In a world-first, 21 Australian businesses across telecommunications, banking, insurance, education and technology are mobilising against perpetrators of domestic and family violence. They have joined respect and protect, a national initiative designed by social enterprise Flequity Ventures to disrupt the rise of financial abuse in Australia. Each business has agreed to ban the misuse of their products and services for financial abuse, with an update to their terms and conditions or policies.
Architect of the respect and protect initiative, Flequity Ventures founder and Adjunct Associate Professor UNSW School of Social Sciences Catherine Fitzpatrick said, “Financial abuse is pervasive and destroys many more lives than people realise, most of them women. When a person has no control over their own money, or ability to access essential services, they face a stark choice: more violence or poverty. This campaign aims to advocate for every business in Australia with joint accounts or digital access to services to make it clear that they promote respect for women and protect against financial abuse.”
Economic abuse affects 2.4 million Australian adults, including 1 in 6 women and 1 in 13 men, according to the Australian Bureau of Statistics, 2023 Personal Safety findings.
As a customer-owned bank, G&C Mutual Bank is a member focused, values-driven organisation with member interests at the heart of its operation. We are proud to be one of the 21 Australian businesses part of the respect and protect initiative and encourage other businesses to follow suit.
Rosanna Argall, CEO, G&C Mutual Bank said: “G&C Mutual Bank recognises the important responsibility we have to our members, our employees and the communities in which we are part of. We’re always striving to make a positive impact and have implemented a number of people focused initiatives to support the vulnerable and those at risk.”
G&C Mutual Bank believes in the provision of fair, affordable, accessible and inclusive products and services. Terms and conditions have recently been updated to help combat financial abuse, with staff also being further trained to help identify the warning signs. Additional member education and support has been introduced through content aligned to hardship, financial abuse, accessibility and navigating challenging life events.
G&C Mutual Bank recognises that employees may also face situations of abuse in their personal life and is committed to providing assistance to employees who experience domestic or family violence, or those supporting an affected family member. This has been formalised in the organisation’s People and Culture Policy and includes additional paid leave. G&C Mutual Bank also has in place an Employee Assistance Program (EAP) providing mental health support and work/life services for employees and their families.
We're ready to help you
We appreciate everyone’s personal circumstances are different, but encourage members with any concerns about hardship, financial abuse, accessibility or challenging life events to contact us on 1300 364 400.
