The aggregator has announced a sponsorship agreement to become the principal partner of a charitable organisation that tackles youth homelessness.
Australian Finance Group (AFG) has announced that it has partnered with Foyer Foundation, an independent charitable organisation that works with young Australians at risk of, or experiencing, homelessness.
The aggregator said that it would provide funding support for the organisation, with a key component of the support including the creation of the AFG Independence Fund, which is a series of grants accessible to Foyer’s young people.
The grants are tailored to contribute to their education, wellbeing and employment support pathways, according to AFG.
Foyers are integrated learning and accommodation settings that provide the younger cohort experiencing disadvantage with a pathway to education, training and employment that is founded on access to stable and secure housing.
The organisation’s model is evidence-based and is aimed at assisting disadvantaged youth aged between 16 and 25 years who are homeless or in housing need to transition to adult independence.
The Foyer Foundation manages and works to enhance the quality standards of Foyers that operate in Australia. While the foundation does not operate Foyers, it is the learning organisation that manages their accreditation, and sponsors research, works with the Foyer movement globally and advocates to government at all levels, according to AFG.
The foundation currently has nine established Foyers operating in Western Australia, South Australia, Victoria, NSW and Queensland, and supports around 500 young people on any given night, according to AFG.
AFG said that its CEO David Bailey, and Foyer Foundation board member and North Metropolitan TAFE managing director Michelle Hoad launched the national partnership in Foyer Oxford in Leederville, Western Australia recently.
Mr Bailey added that AFG’s funding would assist the foundation with meeting its goals to establish a total of 30 accredited Foyers across Australia by 2030.
Commenting on the partnership, Mr Bailey said: “The social crisis of homelessness is a whole of community problem. AFG is taking the step today to help play our part in addressing that problem.
“As one of the country’s largest networks of mortgage brokers, we see firsthand the importance of a place to call home. Foyer Foundation is an organisation that has a globally proven model that works to address the issue among young people, one of the hardest-hit parts of our community when faced with homelessness.
“By partnering with Foyer Foundation, we are supporting a program that helps young people into a stable and secure home from which they can find their feet and take their place in the community.
“At AFG, we work to support our brokers to build their success. We call it ‘brokering a better future’. By helping Foyer Foundation to wrap the support needed around these young people, we hope to play a part in helping them build a better future also.”
Foyer Foundation CEO Katie Hooper also spoke about the partnership, and said: “This incredible support and funding from AFG, including the creation of an independence fund, will be a game changer for some of our young people needing to access extra resources and support to help them achieve their goals, often after a turbulent period in their lives.
“Approximately 50 per cent of our Foyer residents come from situations of family violence or family breakdown, and often they cannot access the resources required to help them stay in study or maintain a stable income, putting them at risk of homelessness.
“The AFG Independence Fund will remove barriers that often challenge our young people when striving for future goals, creating more opportunities for our young people, allowing them a chance to thrive.”
[Related: AFG to invest $15m in neobank]
If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.
Malavika Santhebennur is the features editor on the mortgages titles at Momentum Media.
Before joining the team in 2019, Malavika held roles with Money Management and Benchmark Media. She has been writing about financial services for the past six years.
A former broker head has returned to MyState Bank to tackle turna...
The leading brokers in South Australia and the Northern Territory...
The complaints authority has named a new executive general manage...