Review of education providers

In late March 2013, the Commission completed a review and initial selection of financial education providers. 

Review of financial literacy education providers

In late March 2013, the Commission completed a review and selection of financial literacy education providers. 

The review involved:

  • Developing a definition of what we consider to be appropriate financial literacy education programmes;
  • Establishing detailed criteria for the selection of providers to be listed on the Commission’s website as ‘financial literacy education providers’; and
  • Setting up a robust and comprehensive application, assessment and ongoing review process for providers.

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Purpose and objectives

The purpose of our review was to establish a recommended list of financial literacy education providers who offer well-regarded, sound financial literacy education programmes to the adult public and in the workplace, delivered by educators with the appropriate training, expertise and relevant experience.   Providers and their programmes needed to meet the Commission’s detailed criteria and be aligned with the National Strategy for Financial Literacy and the financial literacy competency framework for adults as well as having a sustained approach to delivery and demonstrated way of measuring effectiveness, performance and achievement.

The objectives were:

  • To facilitate awareness of and access to a recommended list of financial literacy education providers and education programmes.  This is to fulfil the Commission’s role in spreading the word about and encouraging participation in financial literacy education programmes.
  • To gain greater visibility and a better understanding of the effectiveness of financial literacy programmes – by seeking ongoing feedback from the financial literacy education programmes on offer.

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Scope of the review

  • Undertaking a stock-take of who is doing what in terms of financial literacy education;
  • Developing a definition of what we consider to be appropriate financial literacy education programmes;
  • Establishing detailed criteria for the selection of providers to be listed on the Commission’s website as ‘financial literacy education providers’;
  • Establishing a process for the ongoing monitoring and evaluation of providers and their education programmes.
  • Setting up a robust and comprehensive application, assessment and ongoing review process for providers. 

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Limitations of the review

The review excluded:

  • The formal school sector.  (We are aware there are already a number of financial literacy initiatives and education providers operating in the school sector and are exploring these initiatives separately).
  • Tertiary education providers and industry training organisations, which only deliver financial literacy subjects as embedded components in their industry training or tertiary education programmes (unless they also offer standalone specific financial literacy courses).
  • Providers of financial literacy education resources – this is another separate exercise.
  • Providers of other financial education workshops or seminars.  

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Alignment with the National Strategy for Financial Literacy

One of the key requirements of the review was that financial literacy education providers’ programmes, education material and facilitation practices were aligned with the core principles of the National Strategy for Financial Literacy:

Core principles of engagement (PDF 277.45 KB, Jan 2013)

The core principles are designed to ensure the information and facilitation is:

  • Accessible
  • Impartial and not product specific
  • Accurate
  • Learner-centric, and
  • Evaluated

In addition, we require financial literacy education programmes’ outcomes to be aligned with the Commission’s financial literacy competency framework for adults.

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Find a provider or apply to be listed

Find out more about financial literacy education providers and programmes including:

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