First Nations Foundation (FNF) has received $155,000 (USD $100,000) from MetLife Foundation to continue strengthening the financial knowledge of First Nations women.
The insurer together with MetLife Foundation have extended their support by donating funds to FNF's Indigenous women's financial literacy initiative, Rich Blak Women, and its new program, Resilient and Ready.
The new program, specifically designed to cater to the unique needs of Indigenous women, focuses exclusively on career development and supporting employment journeys.
The funding received from MetLife will enable approximately 500 First Nations women to participate in the Resilient and Ready program, which is offered across a diverse range of online workshops, self-paced financial well-being modules and in-person events.
The program covers essential financial foundations such as budgeting, savings and debt management, while also providing support in setting personal and career goals, negotiating pay rises and accessing higher-paying employment opportunities.
Equally, learners will participate in financial self-care sessions and receive comprehensive education on strategies to safeguard against scams and financial pitfalls, along with guidance on fostering healthy relationships with money, family and partners.
"It's a great sign from MetLife to demonstrate their commitment to the financial well-being of First Nations women," said FNF chief executive Phil Usher.
"At FNF, we're keen to team up with those who share our passion and drive to financially empower First Nations communities. We're thrilled to have MetLife on board, supporting Indigenous women in achieving just that."
Usher explained that a significant part of the training involves overcoming limiting beliefs and establishing healthy boundaries when it comes to money.
"Everything we do at the foundation follows a culture-first approach, which is the essence of why our programs are successful," he said.
Meantime, MetLife Australia chief executive Richard Nunn reaffirmed the insurer's commitment to supporting FNF's efforts to enhance the financial literacy of First Nations women. “We’re committed to increasing financial literacy because we know it is vital to long-term financial health which helps people build a more confident future," he said.
"We look forward to working with FNF through this grant and continuing our journey of cultural learning to deliver better experiences for our First Nations customers.”
A recent report, penned by the University of Melbourne's Faculty of Business and Economics, found that Indigenous-owned businesses in Australia generated $16.1 billion in revenue and provided jobs for 116,795 employees over the fiscal year 2021 to 2022.
A further study released last year by Supply Nation, in collaboration with the Griffith Asia Institute, revealed a key advantage of growth within the Indigenous business ecosystem is that Indigenous businesses were more likely to hire Indigenous people compared to non-Indigenous businesses.
Commenting on the figures, Usher said it's a pivotal time in the Indigenous economy and training First Nations women in a culturally safe environment will drive both individual and collective success for Indigenous people.
"Indigenous women are not only leaders in our communities but also often the ones in charge of the household budget. By empowering our mothers, sisters and aunties, we are ensuring that we have a positive impact throughout the community," he concluded.
About MetLife
MetLife Insurance Limited (MetLife), an affiliate of MetLife, Inc., is a specialist provider of life insurance to superannuation trustees, employers and financial advisers in Australia. MetLife has expertise in designing holistic insurance solutions to meet the needs of its customer groups, which includes the award winning 360Health program. MetLife has been providing life insurance products in Australia since 2005. For more information, visit metlife.com.au.
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help individual and institutional customers build a more confident future. Founded in 1868, MetLife has operations in more than 40 markets globally and holds leading positions in the United States, Asia, Latin America, Europe and the Middle East. For more information, visit metlife.com.
First Nations Foundation
First Nations Foundation (FNF) is an Indigenous-led organisation that remains committed to enhancing the economic prosperity of Indigenous Australians. As the sole Indigenous financial education provider in the country, we rely on evidence-based research to shape our program framework and lobby the government for systemic change. For more information on the First Nations Foundation, please visit https://firstnationsfoundation.org.au/