Morwell is about to get its own Good Money store, which will offer financial support through low and no interest loans and financial management and counseling to low income earners of the Latrobe Valley community.
The Victorian Government today confirmed $2.3 million to establish the community finance store, which will be delivered through a partnership between Good Shepherd Microfinance, the Victorian Government and the National Australia Bank.
To ensure immediate support is available to the Latrobe Valley community and affected Hazelwood workers, the Good Money hub will operate from the Latrobe Valley Authority site at 131 Princes Drive Morwell until the store opens in March 2017.
Good Money represents an innovative model for improving the financial wellbeing and inclusion of vulnerable Victorians. The provision of microfinance products and services through Good Money aims to intervene early, stabilise a person’s financial situation and prevent further financial stress and hardship.
As well as providing financial services such as no interest and low interest loans to people experiencing disadvantage, the Good Money hub in Morwell will offer financial counselling and other support by linking people to other key services in the Latrobe Valley.
Find out more by contacting the Latrobe Valley Authority on 1800 136 762 or visit us at 131 Princes Drive in Morwell.