Minderoo Foundation has welcomed the introduction of a second issuer for the Cashless Debit Card (CDC), as an important step forward in offering more choice and flexibility to participants in the program.
The Traditional Credit Union (TCU) this week begins providing banking services to welfare recipients in the program, importantly allowing them to do all their banking in one place with support across both the Cashless Debit Card and standard transaction accounts.
The TCU will also provide support to Indigenous cardholders, with Indigenous staff members who speak some local Indigenous languages, 12 remote branches, and support centres in Katherine and Darwin.
The introduction of multiple card issuers is one of the key recommendations of the Minderoo CDC Technology Report: Lessons Learned and Future Opportunities (CDC Report), which gathered insights from the work undertaken by the CDC Technology Working Group, a collaboration of interested stakeholders led by Minderoo Foundation.
The CDC Report finds that participants who report feeling stigmatised by the CDC, due to a lack of choice in providers and the cards being visibly identifiable in some cases, can be further supported by enabling a diverse array of financial institutions to issue the card.
“Having a choice of a local financial institutions, with which CDC participants may already have an account, will provide a more seamless experience to managing their money,” said Louise Olney, leader of Minderoo Foundation’s Building Communities initiative.
“We applaud the Traditional Credit Union for providing this service, particularly in remote communities,” Ms Olney said.
The CDC Report makes six key recommendations:
Established by Andrew and Nicola Forrest in 2001, we are a modern philanthropic organisation seeking to break down barriers, innovate and drive positive, lasting change. Minderoo Foundation is proudly Australian, with key initiatives spanning from ocean research and ending slavery, to collaboration in cancer and community projects.