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Commonwealth Bank Foundation Financial Literacy Grants – Applications now open

30 July 2007

Applications are now open for the 2007 Commonwealth Bank Foundation Financial Literacy Grants program, helping secondary schools fund initiatives to develop financial literacy awareness, skill and understanding.

"Financial literacy is an essential life skill. Our investment, through the Financial Literacy Grants, helps schools develop programs to teach the money management skills their students need in the world today," said Ralph Norris, CEO of the Commonwealth Bank and Chairman of the Commonwealth Bank Foundation.

Each year, the program awards $3,500 grants to 100 secondary schools across Australia. In 2007, the program will have awarded $1.4 million to deserving schools that engage students’ creativity in developing one of life’s key skills.

All Government, Catholic and Independent secondary schools with students from years 7 to 12 are eligible to apply. Each state and territory will receive an allocation of grants based on the national total of secondary schools.

"The confidence that financial literacy provides young people will set them up for the future, so we encourage all secondary schools to submit an application," Mr Norris said.

Further information on the grants, including the selection criteria and summaries of successful applicants from previous years are available on the Commonwealth Bank Foundation website - www.commbank.com.au/financialliteracygrants

Applications are open from 30 July to 19 September 2007.

About the Commonwealth Bank Foundation
The Commonwealth Bank has been supporting education for more than 70 years, since the introduction of school banking. In 2003 the Commonwealth Bank Foundation was established to further encourage developments in education, particularly financial literacy.

Media contacts:

Tanya Holloway/Kate Young
Horizon Communication Group
Phone: 02 8572 5600
E: Tanya@horizoncommunication.com.au

Steve Batten
Media Adviser
Commonwealth Bank
Phone: (02) 9378 2504
Mob: 0411 080 268
Email: steve.batten@cba.com.au