The community based program that enables people to access fair, safe and equitable credit based on justice, respect, trust and empowerment was launched in August of this year at the Good Shepherd Centre in Leederville.
The program known as the No Interest Loan Scheme was started by the Good Shepherd Sisters in Victoria in 1981 and provides interest free loans for individuals and families on low incomes.
There are no fees, charges or interest payments, as loans are repaid, the money is lent out to other members of the community to utilise the service
Sister Geraldine Mitchell, the area leader, Bronwen Griffiths the Good Shepherd WA Manager, who gave a brief overview of the program, and Kathy Kroes, the program manager, attended the launch, which was officially opened by Kathy Kroes.
“It is a privilege for me to be present and welcoming Good Shepherd WA to the national NILS network,” Ms Kroes said.
Today, in an environment where mainstream credit for people on low incomes is limited and the fees and charges levied by fringe credit options such as pawn brokers or payday lenders are high, these loans make a considerable difference to the nature of economic participation by individuals and families living on low incomes.
NILS provides a holistic response to the needs of people living on low incomes by providing support to improve financial capabilities and enhancing community participation through the recycling of funds into additional loans for other community members.
This is achieved through a process which enhances the dignity and respect of the individual whilst helping them gain some form of financial control and empowerment in their lives.
The NILS is committed to providing opportunities to increase financial inclusion to the most vulnerable in society.
It reflects the aims of its auspice body Good Shepherd Australia New Zealand, by addressing economic inequality in society, increasing commitment to marginalised and disadvantaged people, particularly women and girls, and increasing the promotion of social justice policies and programs.
To be eligible for a loan, an applicant must hold a Health Care Card, Pension Card, receive a Centrelink payment or have a low income, and they must have been at their current residence for at least three months.
Loans of up to $1,500 are available for household items, medical needs, technology and driving lessons.
The program can be contacted on 9381 3955 or at adminwa@goodshep.com.au.