In collaboration with the National Australia Bank (NAB), Good Shepherd offers the AddsUP matched savings plan to people who have successfully completed at least one NILS or StepUP loan.
Following a discussion with a community worker about saving and setting realistic goals, the client opens a NAB account specifically for the purpose of saving. AddsUP does not specify what people need to save for.
Once an individual has saved $300, they have the opportunity to have these funds matched by NAB to a total value of $500.
AddsUP aims to help people on low incomes achieve their goals and further build on the financial discipline developed through repaying a loan.
To apply, clients should contact the program office who arranged their NILS or StepUP loan.
For more information, visit the NAB AddsUP page