Bid to make In-roads

Centre for Aboriginal Independence and Enterprise CEO and chairman Wayne Coolwell and Community Sector Banking executive director Peter Quarmby launch the financial pilot program In-roads.

Rob Williams

INDIGENOUS leaders have praised a program which promises to end the debt cycle and build financial well-being.

The national pilot program, In-roads, is a partnership between the Centre for Aboriginal Independence and Enterprise (CAIE) and Community Sector Banking (CSB).

The scheme was funded under the Federal Government’s Community Development Financial Institutions program, which aims to improve the financial knowledge and resilience of vulnerable people.

CAIE CEO and chairman Wayne Coolwell said In-roads offered loans and education to the Aboriginal and Torres Strait community, who often weren’t serviced by mainstream banks.

Mr Coolwell said the initiative would have made indigenous activists, such as Ipswich’s own Neville Bonner, proud.

“He would be so delighted,” Mr Coolwell said.

“One of the big things he talked about was independence for Aboriginal people.

“To give Aboriginal people the opportunity to be part of society means so much.”

He said for many indigenous people access to loans to fund purchases such as a car or start up a business, would be life-changing.

But Mr Coolwell said the scheme offered more then a loan.

“In-roads also provides tailored, realistic education, helping people make sound decisions,” he said.

“For some people it’ll be their first formal loan, so it’s crucial to know the basics, especially budgeting and managing repayments.”

Indigenous elder Uncle Hugh Kirk said the program would break down many barriers.

“It is a great system as it helps people help themselves,” he said.

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