NSBS has successfully been granted a funding contract from the Ministry of Social Development for its core Building Financial Capability (BFC) services to work with people to improve their financial wellbeing and take control of their finances.
Following an extensive and rigorous RFP process, in which many BFC providers around the country were not allocated funding contracts, or received only a portion of what they requested, the procurement panel for the Auckland region informed NSBS that the charity has been recommended for full funding to deliver financial mentoring services.
It is recognition and acceptance of NSBS’s vital role in providing free, confidential, non-judgemental, and personalised financial mentoring and advocacy services that empowers and enables New Zealanders and their whānau to become more financially capable.
The funding contract will be for three years – from July 2024 to June 2027.
NSBS is thrilled to receive all of the funding it requested. It is the first re-contracting of BFC services since 2016.
The contracts awarded to successful BFC providers, such as NSBS, are worth a total of $19.5m.
This year the Government consolidated funding around fewer providers.
The ending of time-limited Covid-19 funding has meant a 12.5% reduction in funding available for these contracts from 1 July onwards.
“We understand how valuable these services are for those who use them, and we are grateful to the organisations who provide them,” said Karin Dalgleish, Acting General Manager Strong Safe Families and Communities.
NSBS CEO Drew Glucina said the funding is deeply appreciated and could not have come at a better time, as Kiwis are facing it tough.
“We know that financial mentoring is a life-changing experience, and when you can help people get back on their feet and feel financially secure, you make a positive and empowering impact on their lives and that of their whānau.
“We are grateful to the MSD for recognising and acknowledging our organisation’s 31-year history of providing vital financial mentoring, support and education to people, families and whānau to help them achieve their financial goals and provide them with the tools and resources they need to thrive.”
Glucina said the new funding will allow NSBS to expand the organisation’s services further.
“We have always provided financial mentoring clinics throughout the North Shore and extending to South Auckland. With this new funding, we will work with our partners to increase our service provision in South Auckland, where the rising cost of living has created a significant need.”
The NSBS team of mentors are professionally trained and accredited by FinCap. They deliver one-on-one financial mentoring and advocacy services, helping clients enduring financial hardship to identify their goals and develop a strengths-based financial plan.
They work with clients to identify the best debt solutions, negotiate with creditors to reduce debt, set budgets, and provide ongoing support to improve outcomes.
The NSBS mentors help clients and whānau on their journey to financial independence by ensuring they have more control over day-to-day finances, more ability to absorb a financial shock, more financial freedom to make life choices and achieve their financial goals, and more ability to save and plan for retirement, leading them into home ownership, and providing opportunities for employment or promotion.
