November 19, 2005
SYDNEY 19th November 2005: Habitat for Humanity Australia and Challenger Financial Services have entered into a substantial partnership in which Challenger and its employees will assist Habitat accelerate its Australian domestic community housing and house-building programs.
The partnership begins with a A$80,000 (nearly US$59,000) commitment from Challenger towards the acquisition of land for at least one house in Queensland during 2006.
As with Habitat's other community partnerships, Challenger staff will work alongside community volunteers and selected Habitat families to build the house.
Publicly-listed Challenger operates proprietary investment funds, is Australia's sixth largest mortgage company, and offers wealth management services (www.challenger.com.au ).
It is anticipated that successful execution could see Challenger-Habitat partnership extending for a further two years with a total commitment of A$240,000 over the three years, in a significant initiative aimed at addressing poverty housing in Australia.
HFH Australia chief executive George Macdonald said, "We are inspired by the community commitment of Challenger to make a difference to the community at every level and to provide practical and tangible philanthropy. We welcome their support which will make an immediate difference to Australian families in desperate need of adequate housing.
"This will provide a model for other similarly-motivated corporates to join with local Australian communities and make a lasting difference."
Challenger joins ANZ, PMI, CSR, Orica, Whirlpool, James Hardie and other major corporations that are already partnering with Habitat to address poverty housing issues in Australia.
Habitat's Australian program is already closing in on 60 houses and is targeted to double its total every three years. HFH Australia is also responsible for over 500 houses being built as part of Habitat's tsunami reconstruction program in the Indian Ocean basin.