Anthony Miller

Westpac has announced a new strategic direction for its community and philanthropic investment, aligning all efforts to address the critical issue of education.

Under this new approach, the Westpac, St.George, BankSA and Bank of Melbourne Foundations will combine resources and direct investment towards maths and reading programs in Australian primary schools.

Westpac CEO Anthony Miller says improving literacy and numeracy is one of the nation’s most pressing challenges and will unlock opportunities for a better future.

“When we invest in education, we’re investing in Australia’s future,” Miller said.

“Today, one in three Australian kids is not meeting the benchmarks we’ve set in numeracy and literacy¹. This gap almost doubles in some of Australia’s most disadvantaged communities.

“Every child deserves the chance to unlock their potential, no matter where they live or what challenges they face, and that starts with the basics – being able to read and do maths.

“We’re refining the focus of Westpac Foundation and uniting all our philanthropic and community investment programs to drive a greater impact and scale.”

Investing in leading education charities

Through the new program, Westpac will invest $3 million to partner with three leading education charities working to deliver systemic change in schools:

1. Australian Schools Plus. A not-for-profit organisation founded following a recommendation in the first Gonski review, driving equity in education so all young Australians have the opportunity to thrive. Westpac will work with Schools Plus to deliver a new coaching model proven to support school leaders to improve students’ maths and reading outcomes.
2. The Australian Business and Community Network (ABCN). A not-for-profit organisation dedicated to connecting students from under-resourced communities with mentors to enhance their educational and career opportunities. Westpac will work with ABCN to develop a new mentoring program, connecting school principals and business mentors to build leadership capacity in schools.
3. Springboard Trust. An organisation that delivers mentoring and leadership programs for school principals in New Zealand’s education sector. Similar mentoring opportunities will be provided to Westpac NZ employees.

New education grants

In addition, the Westpac Foundation will launch a new, single grants program to support education charities working with local schools and organisations helping to keep children engaged and able to learn. The grants will launch in 2026 and are expected to award approximately $4 million annually through:

• School Grants:  $1 million per year for three years via a principal partner to schools in need.
• Innovation Grants: Eight multi-year grants for local organisations, totalling $400,000 per year.
• Collaboration Grants: Two multi-year grants to drive long-term impact, totalling $200,000 per year across two partner organisations.

The new focus of the Foundation will complement the existing work supporting education that’s underway through the Westpac Scholars Trust, which has a $100 million commitment to award 100 scholarships each year to university students, researchers and social innovators.

Sherrill Nixon, CEO, Australian Schools Plus said: “This investment is an exciting step forward in addressing one of Australia’s most pressing education challenges. By focusing on literacy and numeracy, this partnership will support schools to deliver meaningful and lasting improvements for students.”

Phil Gardner, CEO, Australian Business and Community Network said: “Strong school leadership is an effective way to strengthen literacy and numeracy outcomes for students. When principals are supported by experienced business mentors, they can create the conditions for students to thrive and build the foundational skills that support learning now and into the future.”

Westpac Foundation will appoint former NSW Education Minister Adrian Piccoli to its Board to help ensure the new strategy makes a credible contribution to the sector.

Mr Piccoli said: “Significant and persistent disparities remain in education outcomes for Australian children facing social, geographic and educational disadvantage. Narrowing and ultimately closing this gap is key to increased future productivity and prosperity for this country.”

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Caroline Stewart

Ecstra Foundation’s inaugural National Financial Wellbeing Summit last week highlighted the growing support for a nationally coordinated financial strategy as way of improving Australians’ financial and overall wellbeing.

The event emphasised the importance of building an integrated approach to financial wellbeing by supporting individual financial capability, while also addressing the broader systems, policies and market structures that shape people’s financial lives.

Bringing together leaders from government, business, education and community sectors, the discussion was focused on practical approaches to help build a better financial future for all Australians.

With an address from the Assistant Treasurer and Minister for Financial Services, Hon. Dr Daniel Mulino MP (pre-recorded), and a keynote delivered by ASIC Commissioner Alan Kirkland, sessions examined the drivers of economic inequality, the balance required between regulation and education, and how greater cross sector collaboration can influence financial, mental, and social health outcomes.

A key focus was on the importance of embedding financial education across schools, homes, and workplaces, to ensure young people develop the skills and confidence they need to make informed financial choices at key life stages.

Ecstra Foundation CEO Caroline Stewart, said the Summit came at a time of national momentum around improving financial wellbeing and literacy, particularly for young people.

“There’s increasing demand for practical, engaging financial education. We know that starting money lessons early builds lifelong knowledge and capability, and programs like our own Talk Money school workshops are helping normalise these conversations in classrooms and at home.

“Australia had been a leader in this space for many years. It was clear from the Summit there is strong support for Ecstra’s call for a more coordinated, national approach to financial capability. This would connect education, policy, and community initiatives to help every Australian build lasting financial wellbeing” she added.

Speaking at the Summit, Roset Khair, Vice President of Economics and Business Educators NSW, a leading advocate for financial literacy education, said there is growing support for schools to embed financial capability in the classroom.

“Financial literacy is an essential life skill and a foundation for overall wellbeing. Teachers see first-hand the positive impact when their students can connect financial concepts to real world decisions.

“Supporting schools-based programs are vital because they provide schools with curriculum aligned resources and tools to teach these skills effectively, while helping to build a culture where learning about money is normal and empowering,” she added.

Ms Stewart said that the Summit is an opportunity to connect classrooms, workplaces and communities with broader systems change.

“Talk Money is just one part of a bigger picture, to ensure every Australian has access to financial education, and that the systems around them support financial inclusion and wellbeing. Events such as the Summit show what is possible when education, policy, and community come together with shared purpose.”

Speakers at the Summit included:

• Dr Cassandra Goldie AO, CEO ACOSS 
• Georgie Harman AO, CEO Beyond Blue
• Miles Larbey, OECD’s head of financial consumer protection, Education & Inclusion Unit
• Leah Bennett, Managing director, First Nations Foundation
• Prof Roslyn Russell, RMIT
• Effie Zahos, 9News money editor
• Janet Liu, group head of social impact and community partnerships ANZ
• Xavier O’Halloran ,CEO, Super Consumers Australia
• Roset Khair, vice president, Economics and Business Educators NSW
• Phil Gardner, CEO ABCN 
• Gerard Brody, commissioner and chairperson, Essential Services Commission Victoria
• Michelle Wright, deputy head of communications and education, RBA
• James Kirby, associate editor – wealth, The Australian.

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