NT Government cuts deal for indigenous employment in banking sector
The Northern Territory Government has entered a $3 million, six year contract with NAB and Traditional Credit Union which will secure employment for indigenous people
In a competitive tender process, NAB partnered with the Traditional Credit Union (TCU) which currently provides banking services in 11 communities across the Northern Territory and has a strong track record in providing employment for indigenous Australians.
TCU is Australia’s only Aboriginal-owned banking institution and more than 85% of its workforce is Aboriginal and/or Torres Strait Islander. Under the agreement, NAB has committed to employ an additional 20 Indigenous trainees in the Northern Territory over the next three years.
Last year, NAB helped TCU to expand its branch network, established an Indigenous Money Mentors program, and the Indigenous Employment Program, which recruited more than 72 Indigenous employees across Australia since its beginning in 2008.
The Northern Territory Government is investing $32 million over three years to support business and Indigenous employment. The Jobs NT strategy has a target of 3000 Indigenous commencements in employment across the public and private sectors by 2012.
The NT Public Sector Entry Level Indigenous Employment Program is providing Indigenous people with skills training and a job in the public service, and the Indigenous Business Development Program is helping start up more Indigenous owned businesses.
The Territory Government has also set up the Indigenous Training for Employment Program with the Australian Government to support initiatives that strengthen private sector and local government employment in regional and remote communities.
As part of the NAB/TCU contract a Government Business banking team will be established by NAB in Darwin to ensure effective and efficient transfer of banking services. The government has provided assurances that there will be no loss of jobs as a result of this decision.