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Financial Wellbeing and Capability Grants – Financial Counselling, Capability and Resilience Hubs
Overview / Purpose
This program aims to support individuals and families to navigate financial crises and build financial wellbeing, capability and resilience for vulnerable people and those most at risk of financial and social exclusion and disadvantage. It encompasses the provision of financial counselling, financial literacy education, and access to financial services including microfinance products.
Funding is available to deliver a targeted and streamlined Financial Wellbeing and Capability (FWC) service offer. The new model will establish FWC service hubs offering both Commonwealth Financial Counselling and Financial Capability services in locations where income management is currently operating. The aim of this funding round is to achieve closer integration of Financial Capability services, which is an early intervention model, and Financial Counselling to provide a more holistic service to clients.
Successful providers will establish hubs with a core service offer of Commonwealth Financial Counselling and Financial Capability services. They will also have the option to incorporate microfinance services such as low or no-interest loans.
A total funding pool of up to $14.26 million is available from 1 January 2016 to 30 June 2017. Please review the Funding Summary (Appendix A) for the funding available in each service location.
Who Can Apply
Eligible applicants include:
- Incorporated associations (incorporated under State/Territory legislation, commonly have 'Association' or 'Incorporated'or 'Inc.' in their legal name)
- Incorporated cooperatives (also incorporated under State/Territory legislation, commonly have ‘Cooperative' in their legal name)
- Companies (incorporated under the Corporations Act 2001 - may be a proprietary company limited by shares or by guarantee or public companies)
- Aboriginal corporations (incorporated under the Corporations (Aboriginal and Torres Strait Islander) Act 2006)
- Organisations established through a specific piece of Commonwealth or State/Territory legislation (public benevolent institutions, churches, universities, unions etc)
- Trustees on behalf of a trust
- State and Territory governments
- Local governments
Eligible activities include those that contribute to improved outcomes for vulnerable people, families and communities by:
- Helping people address immediate needs in times of financial crisis.
- Improving financial capability by helping people in personal financial difficulty to make informed choices to address their financial problems and by fostering the improved use and management of money.
- Assisting individuals, families and communities to navigate life transitions and/or financial stress or crisis which may negatively impact on their wellbeing.
- Improving financial resilience and pathways to mainstream financial services by providing access to savings and credit vehicles.
- Identifying effective methods of recognising families at risk of homelessness and providing early assistance to prevent family homelessness occurring.
- Implementing research and evaluation activities to contribute to program and service improvement.
Please refer to the Funding Summary for the specific activities of each service delivered.
The main assessment criteria include whether the applications:
- Demonstrate the understanding of the need for the funded activity in the specified community and/or the specified target group.
- Describe how the implementation of the proposal will achieve the activity objectives for all stakeholders, including value for money within the grant funding.
- Demonstrate experience in effectively developing, delivering, managing and monitoring activities to achieve activity objectives for all stakeholders.
- Demonstrate the organisation’s capacity and the staff capability (experience and qualifications) to deliver the activity objectives in the specified community and/or the specified target group.
- Describe and demonstrate a service delivery model that includes effective partnerships, linkages and referral pathways that directly contribute to the activity outcomes.
Please review the Funding Summary for the complete information of the assessment criteria.
Commonwealth Financial Counsellors do not provide:
- Financial planning advice (including in relation to shares, superannuation, retirement)
- Finance lending
- Endorsement of specific financial products or services (including debt repayment schemes)
- Business/small business advice
- Legal advice
Financial Capability workers do not provide financial counselling, financial advice, or deal with complex financial or legal matters. If individuals require such assistance, Financial Capability workers will facilitate access to Financial Counsellors and other relevant services as appropriate.
Program ID: 14898
18 August, 2015
29 September, 2015
The next funding round is yet to be announced.
Gambling or Financial Assistance
Department of Social Services (DSS)
Telephone: 1800 625 136
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