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Life changing impact of interest free loans

Mon 15 October 2012

Lara Giddings

Premier

Cassy O'Connor

Minister for Human Services

The Premier, Lara Giddings, and Minister for Human Services, Cassy O'Connor, today paid tribute to a decade's worth of tremendous work from the community organisation No Interest Loans Scheme (NILS).

Over the past ten years, NILS has provided thousands of interest-free loans to Tasmanians in need and today, Ms Giddings and Ms O'Connor attended an event celebrating the organisation's 10th anniversary.

"The work done by organisations like NILS in helping Tasmanians on low incomes is truly inspirational, and there is no better time to celebrate the positive impact NILS has had on the lives of thousands of Tasmanians than the beginning of Anti-Poverty Week," Ms Giddings said.

"For too many Tasmanians the cost of a car repair, a broken washing machine or a trip to the dentist can seem insurmountable, but over the past decade NILS has granted more than 6000 loans to cover such unexpected expenses, with a repayment rate of 98 per cent.

Ms Giddings said the State Government is committed to building jobs and opportunities for the future in order to help break the poverty cycle.

"There will always be people who need additional support, which is why we set aside $5 million from the sale of TOTE Tasmania for a range of cost of living initiatives.

"In the 2011-12 Budget, we were able to provide NILS with $180,000 to help Tasmanians purchase energy-efficient heaters and appliances.

"On top of this we have also increased concessions on electricity by $11.7 million in 2012-13, and $46.9 million over the next four years."

The Minister for Human Services, Cassy O'Connor, said a focus on energy efficient heating appliances was also helping ease cost of living pressures on Tasmanians.

"Through our support for NILS and through programs in my portfolio such as the Energy Champions program for Housing Tasmania tenants and the Power Savings for Tenants programs for people in private rental, we are working to promote energy efficient measures that can help alleviate cost of living pressures," Ms O'Connor said..

Ms O'Connor also presented awards to staff and volunteers who have helped to implement the NILS scheme.

"The commitment of these staff and volunteers is remarkable, and I warmly congratulate those volunteers who have given so much of their time to help those in need," she said.

NILS loan offices operate across Tasmania and clients, who must be in receipt of a pension or hold a concession card, can get financial counselling and assistance to complete a loan application.

To learn more about NILS, visit http://www.nilstasmania.org.au/