Industry-first partnership builds financial literacy
Monday, 8 April 2019
The University of Newcastle and Greater Bank have announced a five-year partnership.
The partnership will deliver community education programs and practical facilities to support informed financial management.
A number of national studies have shown Australian financial literacy is generally poor, especially among young people. For example, in the 2018 Household, Income and Labour Dynamics in Australia survey, only 24% of respondents aged 15-24 could correctly answer five questions relating to financial literacy, climbing to only 55% for those aged 55-64.
The University is committed to working with our communities to improve financial skills at all levels. The partnership between the University and Greater Bank has already unveiled the new Greater Bank Finance Lab at the University’s NeW Space building in the City campus, featuring a dedicated teaching space to help Newcastle Business School students build their skills in financial decision-making, risk management and economic systems.
“We need to support people of all ages to build skills in financial literacy through practical, industry-leading learning opportunities. The Greater Bank Finance Lab will prepare our students for the real financial world and we’re thrilled to share this resource with the community.” - Professor Tony Travaglione, Pro Vice-Chancellor, Faculty of Business and Law
Short courses on money management will now be available to the broader community through the Greater Bank Finance Clinic at the University. High school students will be able to expand their financial literacy through the Greater Bank Finance Academy, due to roll out soon across high schools in the Hunter, Central Coast and Western and Northern NSW regions.
Want to visit the Greater Bank Trading Room?
Drop in to the Ask UON Hub as you enter NeW Space or call Nathan Hawkins on 02 4921 8612 to arrange an appointment