Understanding how the finance industry can best support Aboriginal and Torres Strait Islander peoples to develop the knowledge and skills to manage their personal finance and build a good economic base it critical to addressing broader challenges in health, housing, education and employment.
The Indigenous Financial Services Network (IFSN) aims to improve Aboriginal and Torres Strait Islander peoples' understanding of financial services and their access to financial products.
Reconciliation Australia coordiantes the IFSN's work and Co-Chairs it with the First Nations Foundation (FNF). The FNF coordinates an Indigenous Advisory Group (IAG) of Aboriginal and Torres Strait Islander financial counsellors and other representatives. The IAG guides the IFN's work according to the need they see in their communities.
The IFSN was the result of a recommendation from the National Indigenous Money Management Agenda (NIMMA) Report . It is funded by the Department of Families, Housing, Community Services and Indigenous Affairs (FaHCSIA), and supported by the four major banks.