Financial Literacy

Financial Literacy is the cornerstone of a healthy and vibrant economy. It was a key initiative arising out of the Job Summit held in Auckland in January 2009 and is strongly supported by the New Zealand banking sector.

The New Zealand Bankers' Association's (NZBA) goal is to improve awareness of financial information that is available to the public and promote the use of the information to broaden the understanding of matters relating to money.

NZBA Chief Executive Sarah Mehrtens is a member of the National Strategy for Financial Literacy Advisory Group. The strategy sets the direction for improving financial literacy in New Zealand.

NZBA aims to provide easy and free access to both financial information and tools that can be used by the public. The list below directs you to member websites that contain such information.

• ANZ - Financial Wellbeing
• ASB - Your Money Explained
• BNZ - Be Money Smart
• Citi Bank - Foundation
• Kiwibank - Manage your money using heaps
• National Bank - Financial Wellbeing
• TSB
• Westpac - Managing your money

NZBA members are also involved in a range of activities promoting financial literacy. They undertake community workshops either directly or working alongside other organisations. Examples include:

• ASB's GetWise financial literacy programme for New Zealand primary and intermediate schools and What Next presentation for school leavers
• BNZ's Partners Growth Programmes
• Westpac's partnership with Massey University to establish the New Zealand Centre for Personal Financial Education

Sponsorship and support

Members also contribute to financial education and literacy through a range of initiatives in conjunction with other organisations. Some examples include:

• NZBA sponsorship of the Retirement Commissioner's 'Financial Literacy for Schools' pilot programme (Personal financial education framework for schools)
• ANZ National's sponsorship of Retirement Commissioner's Financial Knowledge Survey
• ASB's support of Young Enterprise Trust primary and secondary school programmes
• BNZ's sponsorship of the Retirement Commission/ Age Concern 'Elder Financial abuse resource and toolkit'.