Ecstra Foundation is a new not for profit organisation committed to equipping Australians with the support and access to resources they need to make confident money decisions now, and for their financial future.
Ecstra will provide leadership and an independent voice on addressing financial capability. We know that financial capability cannot be addressed in isolation from social, economic and behavioural factors.
Our initial funding, provided through the Community Benefit Payments scheme, means we will always place consumers at the centre of our work.
The financial landscape is complex. The imbalance of power and information between customers and financial institutions was highlighted in the final report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. We support the increased focus on equitable treatment and outcomes for Australians navigating financial choices and providers.
We will work as part of the National Financial Capability Strategy led by the Australian Securities and Investments Commission (ASIC).