Federal government pledges $4m after Aboriginal Community Benefit Fund (ACBF) trading as Youpla went into liquidation

Far North Indigenous groups have reacted to a $4m federal government pledge to assistant families left facing financial ruin after the collapse of a funeral fund. FIND OUT MORE

INDIGENOUS groups have reacted to a $4m federal government pledge to assist Far North families struggling to pay for Sorry Business after the collapse of the Youpla funeral fund.

Hundreds of Yarrabah residents and up to 30,000 First Nations mums and dads were left in limbo after Aboriginal community Benefit Fund No 2 Pty Ltd (ACBF) which traded as Youpla went into liquidation on March 2 this year.

The federal government on Monday announced it will honour benefits of the policy holders who had an active account at April 1, 2020. This will be honoured until November 30, 2023.

The Save Sorry Business Coalition supported by 140 organisations and about 20,000 individuals welcomed the announcement.

Mob Strong Debt Help aboriginal financial counsellor Bettina Cooper said it was an important announcement for those caught up in the painful collapse.

Yarrabah resident Agnes Neal said she was furious and said she feel betrayed that the $15,000 she scraped together over the years to save for her funeral has ben lost when the Aboriginal Community Benefit Fund collapsed Picture supplied.

“We recognise and appreciate the willingness of the federal government to listen and

consult with First Nations people on this issue,” she said.

“Though this will not bring back loved ones, we hope it will ease the burden of Sorry Business on your family and community.

“We look forward to further conversations around a fair resolution for the remaining policyholders who were exploited by Youpla and let down by repeated regulatory failures.”

But Ms Cooper said more could be done.

“There is a lot more work to be done before the tens of thousands of First Nations peoples harmed by Youpla can heal from decades of cultural and financial harm.”

There were several calls for government to step in prior to the announcement with Yarrabah resident Agnes Neal telling the Cairns Post earlier this month she had felt betrayed and the federal government needed to get involved.

Yarrabah mayor Ross Andrews. Picture: Brendan Radke

Ms Neal had held a policy from 2006 until it went bust.

“It’s left me traumatised, angry and stressed,” she said.

Indigenous Consumer Assistance Network director Daphne Naden said the announcement was a step in the right direction.

“I didn’t want to leave my daughters with the financial pressure to find funds to bury me so I took out a plan with this funeral company thinking it was the right thing to do,” she said.

“But this funeral company deliberately went out to exploit Indigenous communities.

“This news will help families grieving the loss of loved ones who should have been covered.”

The effects of the collapse had a devastating cultural and financial impact on the Yarrabah community according to Yarrabah Aboriginal Shire Council Mayor Ross Andrews.

Originally published as Federal government pledges $4m after Aboriginal Community Benefit Fund (ACBF) trading as Youpla went into liquidation