First Nations Foundation
Be part of the rising tide
Last updated: February 15, 2021
How are we powering a wealthier world? By supporting causes that restore a little balance to the wealth of our society. Like a rising tide.
First Nations Foundation
First Nations Foundation (FNF) is an Indigenous-led not-for-profit working towards financial prosperity for Indigenous Australians nationwide. Research released in 2019 by FNF in partnership with the Centre for Social Impact and NAB identified that only 1 in 10 Indigenous Australians are financially secure, compared with 1 in 2 non-Indigenous. We drive down this financial exclusion rate by:
- Mapping Indigenous financial capability needs
- Collaborating with financial services partners and Indigenous community partners
- Delivering high-quality Indigenous financial literacy education and outreach to build Indigenous Australian's money skills.
The extremely high rate of Indigenous financial exclusion has been caused by a unique position in Australian society of being prevented from participating in the building of the Australian economy until recent times. Deprivation of land assets, control of wages and labour including the critical decision to deprive working people of any right to receive their wages in hand until the 1970s has understandably created low awareness of the underpinnings of the economy and no base of knowledge within families and communities on good money practices.
Some of the challenges Indigenous people face include not knowing the difference between a credit card and debit card, what interest is and how to save to create prosperity. The financial naivety and vulnerability of the cohort can also be seen in concerning statistics such as: an 87% increase in one year in financial scams perpetrated on Indigenous people in 2016 (ACCC), prosecutions of unconscionable vendors selling Indigenous people cars on 48% interest, life insurance policies taken out on 18-month-old babies and Indigenous people who have worked in mining on $100,000 a year having nil wealth accumulation after 10 years.
FNF works by the following values.
Empower - We believe in empowering Indigenous Australians to take control of their financial future through all aspects of our training and education.
Get it done - First Nations Foundation is a nimble organisation that prides itself on being able to consistently punch above its weight. Bigger results means a bigger impact for the Indigenous community.
Be the voice - Through FNF, Indigenous Australia has a voice on culturally appropriate solutions to financial wellbeing for the community. It's our job to ensure this is heard by the Government and the finance services sector.
Innovate - You don’t successfully live on the driest continent in the world for 60,000 years without being innovative. First Nations Foundation in collaboration with the Indigenous community brings innovative solutions to modern challenges.
Be authentic - FNF has an informal culture, however we are not casual. Whether interacting with Government, corporates or Indigenous community, we're passionate and engaged. Bringing decades of personal and professional experience, FNF has the trust of industry and the Indigenous community to deliver life-changing outcomes in a genuine way.
A work in progress
The Pearler community can be a world-changing force. But we're starting small, working with the most aligned organisations. As we grow, so will the range of causes (not only financial) we can all support. Nominate here