CEO Supports Campaign for Financial Literacy

17 May 2007

Westpac CEO Supports Campaign for Financial Literacy

Westpac New Zealand is getting behind the Retirement Commission this May for the launch of its new online tool designed to improve the financial literacy of New Zealanders.

The Retirement Commission launched their new online tool ‘Sort Me – on their www.sorted.org.nz website earlier this week, in advance of the arrival of the Kiwi-Saver this July.

Westpac CEO, Brad Cooper explains “At Westpac we recognise that financial literacy is a critical life skill. Simply put, the more we all understand and manage our money the more control we have over our lives.

To support the campaign, throughout May Westpac staff will be informing customers about the Sort Me tools available online, as well as continuing to deliver the bank’s own financial literacy programme – Managing your Money.

He continues “As financial experts, we at Westpac recognise our corporate responsibility to share our knowledge, skills and information to help New Zealanders manage their money better. That’s what the ‘Sort Me’ online tool and our own ‘Managing Your Money’workshops are all about.”

The Westpac Managing your Money programme is a 2 – 3 hour face to face workshop delivered in person, by Westpac staff. This complementing the online ‘Sort Me’ approach perfectly.

Westpac launched Managing your Money last year to help New Zealanders increase their money know how. The programme is delivered through branches, with the budget planning workshops providing assistance for staff, customers and non customers, community groups and schools alike.

Almost all Westpac Branch Managers are now trained as facilitators for the programme and workshops are happening all over New Zealand. Hundreds of customers and staff have already attended Managing your Money and the bank plans to have 50,000 New Zealanders complete the workshops over the next 3 years.

Retirement Commissioner Diana Crossan says, "I'm delighted to have Westpac and other organisations supporting the launch of Sort Me on www.sorted.org.nz. I'd like all organisations to do their bit by encouraging their employees and customers to do Sort Me. Through this type of support Westpac is building on its commitment to helping New Zealanders learn about personal finances and managing their money better”.

Westpac Banking Corporation has topped the Dow Jones Sustainability Index for the banking sector for four consecutive years and the Managing your Money programme is a key indication of the strength of this commitment.

ENDS

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