Insurers have contributed funds for a $7.75 million cross-industry commitment to Australia’s financial counselling services.  

Contributions from Allianz, IAG, Hollard, and QBE formed part of the fund that also gained input from members of the banking, financial, energy, telecommunications and online gambling sectors.  

The donation will help the Financial Counselling Foundation deliver a series of initiatives to support victims of family violence, those at risk of homelessness and First Nation communities.  

“The important work carried out by the Financial Counselling Foundation, and the groups they have determined to receive these grants, is to be highly commended,” Australian Banking Association CEO Anna Bligh said.  

“They are making a real, positive impact on the lives of some of society’s most vulnerable people.”  

Financial Counselling Foundation Chair George Brouwer says the contribution will substantially aid current initiatives and allow the organisation to look into further solutions.  

“As a result of the contribution, the Financial Counselling Foundation can consider the possibility of a national initiative, in response to research completed by Thriving Communities Partnership, to fund financial counsellors to work within the prison environment and with different cohorts,” Mr Brouwer said.