Credit where credit is due. The Commonwealth Bank educates school students about consumer and financial literacy via its Start Smart program where no bank products are promoted. This is free for schools.
I commend the Commonwealth Bank for engaging with young people and teachers in this way.
Other organisations, could learn a lesson or two from this. For example, Choice does not engage with school students and teachers about consumer rights via any ongoing structured program.
If the CBA ACTUALLY wanted to help financial literacy, why would they be pushing credit cards to 18 year olds who participated in Dollarmites? What they may give with one hand, they take away with the other. That is hardly commendable
Give me the boy until he is seven and I will give you the man.
You need to look at each program separately as they both operate differently.
But the goals are the same. Build long term loyalty to the Commonwealth Bank starting from children who aren’t old enough to know any different.
Are you suggesting a not for profit like Choice running on limited budgets could ever compare to a for profit company with $1 billions in routine profits doing its own outreach, arguably for its own interests?
Maybe the banks should fund Choice programs for example, if they really want to do good work?
About as likely as the old saying, “I’m from the Government, I’m here to hely you” being believable.
No - Start Smart does not mention Commonwealth Bank products.
Here is the Start Smart Website, displayed with a very clear Commonwealth Bank logo. The fact it doesn’t mention individual products doesn’t negate the fact it exists to give children a positive relationship with the brand before any other bank can.
I’m not saying the program itself is Dollarmites level, but I don’t think we should be ‘commending’ them as you say. Ultimately they are a company that deliberately puts people in financial stress, and this program is not a selfless act
It is a Commonwealth Bank program supported by the Commonwealth Bank…
I would be very surprised if there wasn’t Commonwealth bank insignia’s/logos used when the bank delivers the program. These logos reinforce the Commonwealth Bank’s involvement and provides brand awareness to those receiving the program. Such is invaluable marketing opportunity for the bank.
From this video :
Bank logo, bank name, font/style and is there any other colour than yellow? … nothing to see here 
This is just as well. 
How can anybody have any faith in the intentions of Banks to do the right thing by our children when we have seen the dodgy practices revealed by the recent Banking Royal commission.
Victoria banned it, and now the ACT: https://www.abc.net.au/news/2021-02-11/school-banking-programs-to-end-in-canberra-from-july/13141232
Will other states follow suit?
Only a matter of time. Usually once one does, other states wait for the reaction and then they follow suit as it sets the precedence.
The ACT Government’s vote to ban bank marketing in schools marks an important win for the ACT community. We’re calling calling on other states and territories across Australia to follow ACT and Victoria’s lead.
Hopefully they will bring in a decent non-partisan, non-branded, financial literacy course to help educate the youth in being smart with their money.
Dollarmites gets booted from Qld schools.
Another example of our State and Territory MPs asleep at the wheel. They happily allowed the program to continue for 50 years and only act after being prompted by ASIC and other States.
It is a shame that ASIC does not have the power to review the full school curriculum, along with the ability to recommend the removal of all learnings that include ulterior motives.
