ANZ highlights benefit of matched savings accounts

ANZ has asserted that its Saver Plus scheme encourages better use of savings accounts by Aussies, releasing a study indicating that a significant proportion continue to put cash aside after the programme ends.

Research conducted alongside the Brotherhood of St Laurence found that 87 per cent of people continue to save at the same rate or more two years after finishing the scheme.

A further 84 per cent revealed that they also encouraged other members of their families to put money into savings accounts.

John Harries, ANZ general manager of Australia operations, commented: "The reports reveal the positive impact ANZ's investment in Saver Plus is having in helping to build financial inclusion."

He added that the bank will continue to work alongside community partners and the government.

This comes after Philip Lowe, assistant governor of the Reserve Bank of Australia, said at the Australian Economic Forum on Changing Patterns in Household Saving and Spending that in the three years to 2009, those between 15 and 29 years of age increased their savings by ten per cent.

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