Partnerships for prosperity

We’re working together with communities around Aotearoa to create better outcomes for everyone and ensure no New Zealanders are left behind financially. Our goal is to use our strength as a lender and a business leader to help create a fair and equitable society, where everyone has a chance to succeed.

Supporting education through a Social Loan

In June we signed Australasia’s first ever Social Loan to align with newly released international principles. Our $125m Social Loan with Te Pūkenga (NZ Institute of Skills and Technology) to help Aotearoa’s largest tertiary education provider to develop new educational facilities and invest in training programmes that provide better learning and employment opportunities. Te Pūkenga can use the funding to develop tertiary education projects and activities that align with the United Nations Sustainable Development Goals and the newly released Social Loan Principles. These include improving the quality of education, reducing inequality, and creating work opportunities and economic growth.

Healthy & affordable homes

One of Aotearoa’s biggest challenges is improving access to healthy and affordable homes. Our work with Kāinga Ora on its shared equity scheme is helping bring the home ownership dream closer for the next generation of New Zealanders. For existing homeowners, our Westpac Warm Up loan offers up to $10,000 in interest-free lending for customers to improve the warmth and energy-efficiency of their home.

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Increasing supplier diversity

Diversity in business strengthens both our local economy and contributes to a stronger and more adaptable Aotearoa. We are the only bank that is recognised as one of the founding members of Amotai to increase our supplier diversity. Amotai connects buyers to Māori and Pasifika businesses, and we’ve set a target of 25% of our procurement coming from more diverse suppliers by 2025. With ongoing border closures, creating a sustainable local economy is more important than ever.

Opportunities for rangatahi

This year we offered scholarship opportunities through the Te Waiu O Aotearoa Trust Scholarship. The tertiary scholarship awards up to four Māori recipients in their second or third year of a general business undergraduate degree $5,000 each towards their study costs. The scholarship was established to promote, develop and provide for the education and advancement of Māori, within the banking and finance industry, and general business. We are in our second year of Westpac’s School Leavers’ program, which provides mentoring and employment opportunities to Year 13 school leavers. We have had over thirty young people come through this program, receiving permanent work placements within the business.