Case Study 3
|Title||Progress Loans Program evaluation 2011|
|Category||Banking and finance / social research|
|Client||ANZ and The Brotherhood of St Laurence|
|Research objective||To further evaluate the effectiveness of the Progress Loans program in meeting the financial needs of customers and the social impacts derived from the program, including impacts on personal financial capabilities and financial literacy.|
|Research approach||The research methodology involved a number of stages and included both qualitative and quantitative research approaches:
|Key findings||Key finding 1 - Provides access to essential household and personal items: The evaluation showed that the Progress Loans program was effective in helping customers address key financial needs. The loan assisted customers to fund basic household and personal needs including the purchase and repair of vehicles, purchase of household and personal goods, funding of medical services, funding of education and training, and funding of other personal requirements.
Key finding 2 - Facilitates social inclusion: The evaluation also showed that goods and services purchased with a Progress Loan helped improved personal living conditions and quality of life, facilitated greater interaction with family, friends and the community, improved health and wellbeing, improved personal life skills, facilitated employment, improved access to community and institutional resources, and improved material and economic resources. In addition, the program assisted customers to be more independent, improved customer self-confidence and self-esteem and helped reduce financial and emotional stress in the household.
These outcomes illustrated that the Progress Loans program directly contributes to