As we wrap up 2025, I'd like to give a quick thanks to FinCap's partners and colleagues for the support you have given us throughout the year, and a specific shout out to MSD and the NZBA for their funding support. We really appreciate all your contributions to our mahi.

We've embarked on a journey of transformation, and we've got a wish list for 2026. We'd love your company on the next stage of our journey!

At FinCap we facilitate financial wellbeing for whānau and communities by supporting free financial mentoring. At the heart of everything we do are the whānau and communities we serve.

Since becoming FinCap's Chief Executive in March this year, I have seen the true value and impact that the financial mentoring network brings to whānau across the motu, but also to government and industry. Financial mentors are an essential part of the financial services sector and our broader economic system. It's vital that they are supported to do their work well.

Everyday financial mentors navigate complex issues, multiple agencies and stressed and distressed whānau with care, empathy and an approach that builds the financial capability of the whānau they serve.

From providing budgeting advice, helping people understand their consumer rights, working through debt repayment challenges and negotiating repayment plans, through to increasingly complex issues like KiwiSaver hardship and mortgagee sales, financial mentors help people navigate financial difficulties. Those people come from all walks of life - retirees, students, working people, homeowners and beneficiaries.

We are all aware that the impact of the cost of living, unemployment and rising amounts of debt is spiralling for people and affecting their mental and physical wellbeing.

These challenges are compounded by New Zealand's unregulated, wild west, debt collection practices. Currently the incentives are wrong, the most demanding debt collectors are most likely to be paid, and those in debt have little to rely on to challenge harassment or coercion to make repayments they just cannot afford.

You will have seen and continue to see media on the outstanding services financial mentors continue to provide in this very challenging environment - a perfect storm of growing demand and complexity at a time of increasingly constrained funding. This has had significant impacts on services, with many having to ask their mentors to volunteer rather than be paid, or, ultimately, close the doors.

Just this week Christchurch Budget Service Trust has been forced to close their doors after 60 years' service to the Christchurch community. Reduced funding and a huge increase in demand for their services has left them no option but to close, leaving hundreds of clients with nowhere to go.

Clearly things need to change and at FinCap that's what we are looking forward to in 2026 - creating opportunities for us to work together to support the BFC sector and the essential work that financial mentors do.

We've started the ball rolling this year by introducing a professionalised workforce development programme for financial mentors - Te Tāpapa. We've rolled out the first pou (workstream) of Te Tāpapa, which are the competencies and standards for financial mentors.

We're calling on government to set appropriate, realisable standards for debt collection conduct, and we're looking at how industry and government together can achieve a sustainable funding model for financial mentors.

You can find more information on our website about Te Tāpapa and the six pou (workstreams) we'll be working on over the next five years, and our mahi on policy and social issues.

The FinCap team is having a break from 24 December - 5 January, so we can hit 2026 re-energised and with a focus on:

• financial mentors continuing to build their impact as our sector works through the Te Tāpapa professionalisation framework together
• addressing the current gap in sustainable funding for financial mentors by looking for industry contributions alongside government funding
• seeking clearer rules for debt collectors, along with licensing, to better address the unreasonable debt collection conduct we see deepening financial hardship.

We'd love your continued support, collaboration and shared thinking as we progress our mahi in 2026. You're all a key part of our kaupapa. Keep up to date with information on our website, Facebook and LinkedIn pages.

We wish you a safe and enjoyable holiday period with whānau and friends. Be safe on the roads!

From the FinCap team, we wish you all a very Meri Kirihimete.
Kia haumaru te noho

Ngā mihi nui

Fleur Howard
Chief Executive, FinCap