The Commonwealth Bank Foundation
In 2003, we established the Commonwealth Bank Foundation, building on the Bank's long history of working with young people through the School Banking program, and other community activities and contributions towards education and financial literacy over the last 80 years.
The Foundation was established to encourage developments in education, with particular focus on helping to improve the financial literacy skills of young Australians and Indigenous Australians. In achieving this, the Foundation supports teachers and students through skill building programs, while also working to create awareness and understanding of the benefits of a more financially literate community.
The Foundation's programs and initiatives include:
Our award winning StartSmart program, is offered free of charge to primary and secondary school students across Australia. StartSmart uses the talents of world-class facilitators who visit primary and secondary schools to conduct a series of dynamic, interactive and engaging workshops. The programs are geared to the learning stages of each age group.
Commonwealth Bank Foundation Teaching Awards
This Foundation program rewards teachers who have worked hard to build students' financial literacy skills. Money management skills are applied in most areas of learning, so we sought out teachers of all subjects who were helping students to understand these fundamental concepts.
There are 15 winners each year. Each winner is awarded $10,000 to invest in their innovative financial literacy program, plus $2,000 as a personal reward. See the winners.
National Financial Literacy Curriculum Resource
In assisting educators, the Commonwealth Bank Foundation also developed the National Financial Literacy Curriculum Resource, a free resource to help teachers improve their Year 7 to 10 students' knowledge, skills and understanding of financial literacy.
Financial Literacy Research
The Foundation also commissions financial literacy research to help us understand the state of financial literacy in Australia. The results highlight the effects of a more financially literate community.
The Commonwealth Bank Foundation's support materials and school programs have received positive feedback from the educational community, gaining credibility with Australian teachers. In 2012, we were the proud recipients of the Australian Business Award for Product Excellence, which recognised our commitment to developing financial literacy skills in the Australian community, and most notably the work done by the Commonwealth Bank Foundation through its StartSmart program and other initiatives.