The financial wellbeing of Indigenous Australians is improving according to First Nations Foundation's first Impact Report.

The report has revealed the positive impact of the organisation's training on First Nations communities' financial wellbeing.

First Nations Foundation is a charity organisation focused on enabling financial prosperity for Indigenous Australians.

The First Nations Foundation team primarily use a hybrid method of training sessions, workshops and digital resources to improve Indigenous Australians' understanding of money management, alongside an online financial literacy training program, My Money Dream.

First Nations Foundation also work with financial institutions to enable the delivery of culturally appropriate financial literacy resources for First Nations communities and clients.

The Impact Report revealed several positive results across the spectrum of financial wellbeing, including an improvement in how First Nations people access and set up free bank accounts, a growth in understanding the importance of a good credit score, and an improvement among First Nations people in understanding how to use online banking tools and set up direct debits.

First Nations Foundation chief executive, Phil Usher explained the predominately low levels of financial wellbeing seen among Indigenous communities reflect systemic and historical issues sustaining their negative impact.

"What most people don't understand is that it's not about just telling Aboriginal people the basics of money management. It's about having the yarn on how we perceive money and how we can use it to help our family and communities," Mr Usher said.

"We have to support Indigenous Australians in healing their relationship with money and how this relates to the trauma they've experienced."

Culturally-appropriate training for financial institutions would further help financial literacy among Indigenous Australians, Mr Usher said.

"Understanding the Indigenous perception of money and family responsibilities can only be gained through lived experiences. All our training and content is written and delivered by Mob, for Mob," he said.

Suncorp's First Nation's Employee Resource Group's Katherine Carmody said the company is committed to reconciliation and bolstering financial literacy.

It's widely recognised that Indigenous Australians have inadequate financial literacy skills, with some requiring help managing money, navigating the financial system and understanding their financial rights, which leads to further challenges.

While the government is working to improve the situation by funding grassroots programs, assistance from corporates and large organisations has also seen incremental improvements in financial literacy rates.

The Impact Report can be found on the First Nations Foundation website.