AFG commits further $600,000 sponsorship to Foyer Foundation

The Foyer Foundation is confident it can accelerate its efforts to tackle youth homelessness, after extending its partnership with Australian Finance Group Ltd (ASX:AFG) for a further three years.

AFG, one of Australia’s largest networks of mortgage brokers, will provide $600,000 to the Foyer Foundation over the next 36 months, building on the $200,000 provided when it became principal partner in 2021.

The extended funding and partnership will assist Foyer Foundation with its mission of supporting over 500 young people across 13 established Foyers in Western Australia, South Australia, Victoria, New South Wales and Queensland, and to support its plans to establish a total of 30 accredited Foyers by 2030.

The sponsorship focuses on three key pillars of support – strategic growth, educational and employment pathways, and the AFG Independence fund.

Keith Bryant, Foyer Foundation Chair said: “We are absolutely delighted to continue our partnership with AFG. The Foyer Foundation is committed to growing, supporting and accelerating the Foyer approach and working in collaboration with the Foyer Network

“A key part to our successful partnership is the AFG Independence fund. Over the last twelve months it has supported 87 young people with educational, employment and wellbeing resources. The access to financial resources to pay for course fees, laptops, school and work uniforms, driving lessons and more ensures our young people are one step closer to transitioning to independence. We are so grateful.

“We look forward to the next three years as we work together to deliver over $140,000 in Independence Fund grants alone and further funding will strategically support our work with cross-sectoral partners to improve the quality and practice of Foyers as more than a solution to homelessness. We will focus on early intervention and aim to further promote health and wellbeing outcomes for young people so they can thrive, not just survive”

AFG CEO David Bailey said the new agreement aims to give the Foyer Foundation the added certainty and security it needed when planning into the future.

“After seeing how impactful the Foyer Foundation’s work has been over the last year, we have extended our support,” he said. “It is so important to have a place to call home – AFG sees that firsthand as one of Australia’s largest networks of mortgage brokers.

“Access to stable and secure housing via Foyer’s integrated learning and accommodation can put young Australians, at risk of disadvantage, on track for a brighter future, and we are proud to be part of that journey.”  

About Foyer Foundation:

The Foyer Foundation leads a national network of Foyers and Consortium partners to grow the reach of Foyers across Australia, providing more opportunities for young people at risk of or experiencing homelessness. The Foundation does not operate Foyers but are the learning organisation that manages their accreditation and supports their quality improvement. The Foyer Foundation sponsors research, works with the Foyer movement globally, collects data and advocates to Government at all levels.

Youth Foyers provide a point in time service that enable young people at risk of homelessness to develop and achieve educational and employment pathways, exiting in a sustainable way from welfare and service dependence. 

At a time when youth homelessness, mental health challenges and unemployment are at alarming levels all at once, Foyers are ready to support young people to build their skills, capabilities and future pathways.

The Foyer approach is underpinned by stable accommodation and support services that enable young people to achieve their aspirations in learning and employment pathways to build work and life skills in under two years and under one roof.

About AFG:

Australian Finance Group (ASX:AFG) is one of Australia’s largest mortgage broking groups, employing 200+ staff across Australia. As a category leader, AFG has more than 3,000 mortgage brokers in its network with access to over 4,200+ financial products from more than 70 of Australia’s leading lenders spanning across residential and business lending.  In addition to its broker network AFG has a rapidly growing home loan business, and an expanding footprint in the provision of business lending solutions. 

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