1. The Centre for Aboriginal Independence and Enterprise
Indigenous Financial Institution Project

2. The Centre for Aboriginal Independence and Enterprise- What is it?
CAIE is an independent, not-for-profit organisation with no political or religious affiliations and conducts business and advocacy in a fair and non-prejudicial manner

3. What does the CAIE do?
realise enhanced self-esteem and economic independence for Indigenous people
enhance existing alliances between the Indigenous and the non-Indigenous community in a show of collective unity, trust and openness
generate new opportunities for the Indigenous community to move beyond reliance on government agencies and other bureaucracies.

4. The Centre for Aboriginal Independence and Enterprise
Chairperson is Wayne Coolwell
Wayne’s traditional country is the Beaudesert/Mt Tamborine region of South East Queensland
spent most of his working life in communications and the media
last ten years helping to create independence and autonomy for Indigenous people

5. Indigenous Financial Institution Project Why?
Indigenous people are regarded as the most impoverished group in the Australian community
remain under represented as participants in the broader economy
barriers to accessing existing financial products & services
fewer opportunities to build wealth
Initially based in South East Queensland

6. What are the aims of an Indigenous Financial Institution
deliver appropriate financial products, services (including financial literacy training and counseling) and pricing in a manner which is culturally appropriate and sensitive to the needs of the Aboriginal and Torres Strait Islander community
profits returned to Indigenous communities & organisations
help create wealth and capability within communities
economic and social restructuring
greater independence
stronger economic future for many generations of Aboriginal people

7. What do we know?
The studies already undertaken by CAIE indicate that there is a clear demand for better access to more appropriate financial products and services
That the solution will require a collective approach, to bring the existing Indigenous banking under one umbrella
The solution requires the engagement of Indigenous businesses, the Indigenous community, not for profit organisations, corporates, Government agencies and the wider community
We require products that support wealth creation, financial literacy, micro credit and we require a culturally sensitive delivery model
The CAIE has signed an MOU with the Community Sector Banking Group to establish the Indigenous financial institution

8. What don’t we know.
the actual structure of the institution will be to deliver desired outcomes
the level of required capital to build a sustainable business
a final ‘menu’ of products & services
the level of buy in (financial commitment) from the broader community and key stakeholders

9. What we need from the community
Participation, ‘buy in’ and commitment to change
Guidance on how you think an Indigenous financial institution should ‘look, feel and function’
Guidance on the financial services (counselling, financial literacy training) and products you would like to see delivered

10. Managing Project Expectations
It will not automatically deliver a Bank branch, this is subject to the outcomes of the feasibility study and the support of stakeholders and the community.
It will not automatically deliver home loans and business loans to people that do not meet lending criteria
It should provide the infrastructure and pathway to access financial products, services and support
It is hoped that it will lead to a sustainable business model that delivers financial products and services to Indigenous people and communities in a culturally appropriate manner