Maybank Singapore establishes Maybank Family Fund for low-income families
The Fund, established in partnership with the Central Singapore Community Development Council (CDC), started with SGD 200,000, the result of Maybank Singapore staff contributions and dollar-for-dollar matching by the Bank.
10 August 2010
Singapore – In a bid to do more for the community, Maybank Singapore established the Maybank Family Fund, in partnership with the Central Singapore CDC, to foster cohesive and self-reliant families in the District. The partnership, which will span a minimum of five years, will see Maybank pledging to raise SGD 1 million over the next two years for the Fund. In an internal fund-raising exercise in May, Maybank raised SGD 100,000 over just three days, and together with the Bank’s dollar-for-dollar matching, the Fund is launched today with SGD 200,000.
The Fund will be administered by Central Singapore CDC, and used to support programmes that will be jointly agreed upon by Central Singapore CDC and Maybank. Both parties are currently exploring a series of programmes, possibly starting with a pilot project to sponsor insurance coverage for the sole breadwinners of low-income families.
Other needs that the Fund could potentially address include family-related programmes, such as a financial literacy programme to cultivate better saving habits in low-income families and offering lunch pocket money for underprivileged school children.
Said Ms Pollie Sim, Chief Executive Officer, Maybank Singapore, "This is the year of Maybank’s 50th anniversary celebration. Having been here in Singapore and growing with the community for the past 50 years, we want to reach out and help in a bigger way - which is why we decided to establish the Fund, and partner Central Singapore CDC, an organisation we trust will effectively help these people in need."
Mark Tan, General Manager of Central Singapore CDC said, "The Maybank Family Fund and Maybank Night Walk 2010 demonstrate Maybank’s strong commitment to the community. These initiatives support our central belief that concrete steps should be taken by stronger members of the community to pitch in to help the less able. This unique effort is highly commendable, and something that all responsible corporate entities should seek to emulate in their own way."
Fundraising will be done through customer events, staff recreation club efforts, as well as in tandem with some of the Bank's product and service offerings.
As part of Maybank's 50th anniversary celebration, the Bank is organising the Maybank Night Walk 2010, the first of its kind around Marina Bay. The walk takes place on 2 October 2010 and circles the Marina Bay area, offering a scenic stroll which showcases Singapore's city skyline. Maybank pledges to channel all registration fees – at SGD 15 per participant – into the Maybank Family Fund. To register, one can go to any Maybank Branch or visit www.nightwalk2010.com.
Said Ms Pollie Sim, "For the past 50 years, we have journeyed on with our customers. To have such an event is symbolic of the walk we have taken together through the years. Our staff will be out in full force, and I hope that our customers as well as members of the public will join us in this walk, especially with Maybank contributing 100 per cent of the registration fees to the Maybank Family Fund. We are targeting to garner 10,000 participants, which would mean that, together, we will be contributing another SGD 150,000 to the Fund.
"This walk is also designed to be a leisurely one so that even the young and old can join us. And since there isn't a competitive element to the walk, we hope that families can also take the opportunity to enjoy one another’s company as they walk for a good cause.
Maybank is Malaysia’s largest financial services group with total assets exceeding RM 330 billion. In Malaysia, Maybank is the number one bank in terms of reach, assets, loans, net profit and market cap as well as leaders in the fast-growing Islamic banking market. The Group has an extensive global network of 1,750 offices in 14 countries namely Malaysia, Singapore, Indonesia, Philippines, Brunei Darussalam, Vietnam, Cambodia, China, United Kingdom, U.S.A., Bahrain, Papua New Guinea, Pakistan and Uzbekistan.
In Singapore, Maybank is a Qualifying Full Bank and has established itself as a niche market player with asset size of SGD 28 billion and staff strength of approximately 1,300. Maybank Singapore operates one of the largest networks of 22 full service Branches amongst foreign banks. Together with five offsite ATMS, there are 27 service locations. It is also part of atm5 – Singapore's only shared ATM network among six QFBs with a combined reach of more than 140 ATMs.
Maybank Singapore is committed to bringing seamless banking and a wider spectrum of value-added financial services to our valued customers. By harnessing the latest technological advances to increase our network's effectiveness, our customers are able to conduct their banking transactions at any time and anywhere in the world, via the traditional as well as electronic channels.
Maybank Singapore believes that human resource is the Bank's best asset. In 2009, Maybank became the first and only Bank to receive triple certification for Singapore Quality Class, Singapore Service Class and People Developer given out by SPRING Singapore. In July 2010, Maybank was further accorded the Singapore Innovation Class by SPRING. We also received the Excellence in Employee Engagement Award as part of The Asian Banker Excellence in Retail Financial Service Awards 2010. In recognition of our fair and merit-based employment practices, Maybank was also conferred the inaugural Exemplary Employer Award given out by the Tripartite Alliance for Fair Employment Practices (TAFEP) in 2010.