Saving for education

Eight Peninsula families have signed up for an educational savings program.

The program is run by the Smith Family through the Woy Woy branch of the ANZ bank.

"Saver Plus is a program designed to assist families on lower incomes to save for their own or their children's education, rewarding their efforts by matching their savings $1 for $1, up to $1000," said branch manager Ms Darlene Spalding.

"Eight Woy Woy Peninsula families have already started saving for computers, art equipment, school uniforms and text books and we are currently looking for more families to join," Ms Spalding said.

"Research shows the educational items that parents save for and purchase through Saver Plus help improve their children's school experiences, academic performances, and increase participation in school activities like music and sport.

"Saver Plus was recognised this month for its contribution to financial literacy and inclusion through the 2007 Prime Minister's Awards for Excellence in Community Business Partnerships.

"Saver Plus includes MoneyMinded, a financial education program that builds participants' financial skills, knowledge and confidence."

The Smith Family's Central Coast Saver Plus relationship manager Mr Geoff Hynd said that by helping to improve the education opportunities for children in lower-income families Saver Plus was giving young people "a better chance in life".

The program was developed by ANZ and the Brotherhood of St Lawrence in 2002 and is being delivered on the Peninsula by The Smith Family.

Eligible participants must be 18 years and above and have a Health Care or Pension Card and earnings from paid employment.

They must also have children currently enrolled in a school on or near the Peninsula, or be attending or returning to vocational education themselves.

To apply participants should contact Geoff Hynd on 4322 2900.

Press release, 30 Sep 2007 Joanne Darke, ANZ Bank