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New national entity for BFC sector

Introduction

The National Building Financial Capability Charitable Trust (the Trust), commenced operation on 1 July 2017. It is the national entity that supports the Building Financial Capability (BFC) and budgeting sector.

The Trust provides a range of support functions to BFC and budgeting providers and is a sector voice to communicate advice and insights to government and others.

MSD’s contract with the Trust

The Trust has been contracted by MSD for $950,000 per annum to provide eight core activities from 1 July 2017 for five years.

The eight core activities are:

  • workforce development, frameworks and training delivery to induct and up-skill financial mentors and boost service and governance standards in the BFC sector
  • quality assurance standards and support
  • access to shared technology platforms and analysis, and sharing of information and data to enable BFC sector providers to better capture, understand and evidence the value of their interventions
  • accords and strategic partnerships to increase cross sector collaboration with the aim of supporting clients of BFC sector providers. Partnerships/accords will include, but are not limited to, government, financial institutions and other third parties
  • organisational support for BFC/budgeting services. Including the provision of information (newsletters, website, social media) and common services (e.g. indemnity insurance, helpline and related services)
  • Communities of Practice meetings to develop collaboration between local budgeting services, with the aim of promoting continuous improvement throughout the sector
  • innovation/research and development to promote efficiency in the sector and ensure service quality is supported by the latest best practice, and
  • a shared sector voice including advocacy and engagement with government and media.

Find out more about the Trust

You can find out more about the work of the Trust on its website.

The Trust sends out regular newsletters on its programmes and services.

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