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Singapore FinTech Association Raises $120,000 to Help Lower-Income Union Members

The proceeds will go towards caring for the elderly, assisting members, supporting the community as well as empowering children and youth.
Model ID: 3926a17e-9f9a-45fe-92c5-a3e37b7f0213 Sitecore Context Id: 3926a17e-9f9a-45fe-92c5-a3e37b7f0213;
By Ian Tan Hanhonn 23 Mar 2022
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Model ID: 3926a17e-9f9a-45fe-92c5-a3e37b7f0213 Sitecore Context Id: 3926a17e-9f9a-45fe-92c5-a3e37b7f0213;

Lower-income union members and their families have been given a significant leg up by the Singapore FinTech Association (SFA).

The SFA announced on 23 March 2022 that it has helped raise $120,000 for the NTUC-U Care Fund under this year’s FinTech for Good initiative - $20,000 more than its original target.

The NTUC-U Care Fund focuses on four areas of support, namely, caring for the elderly, assisting members, supporting the community as well as empowering children and youth.

The event is the SFA’s and NTUC’s second collaboration, after their inaugural run of the Fintech for Good initiative in 2020, where a total of $100,000 was raised.

Minister of State for Trade and Industry Alvin Tan, who was the Guest-of-Honour at the event, presented plaques to grand donor Crypto.com, as well as other notable donors such as Advance Intelligence, Aspire, M-Daq, NETS, NIUM, PPRO and Volopay.

SFA President Shadab Taiyabi said that while Singapore is on the road to recovery, we must not forget the individuals and families who may need an extra help to better their livelihoods.

“We are deeply humbled that donors from the FinTech community have banded together and come forward to support those in need. Their support demonstrates the impact FinTech has on different facets of society and we look forward to our continued partnership with NTUC-U Care Fund,” he said.

NTUC Assistant Director-General Zainal Sapari added that NTUC is pleased to collaborate once more with the SFA to help NTUC’s lower-income members.

“I hope that more corporates and individuals will come on board through similar means for us to make it a sustainable fundraising effort for a worthy cause,” said Mr Zainal, who is also the Director of NTUC’s Care and Share Department.

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28 Mar

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Looking for meaningful ways to give back to society? The NTUC-U Care Fund offers a direct avenue to make a difference in the lives of workers and their families in Singapore. By supporting the Fund, you contribute back to society and foster a more inclusive and resilient environment where everyone has the opportunity to thrive. Our Purpose at NTUC-U Care Fund At the heart of the NTUC-U Care Fund lies a deep commitment to supporting union members and their families. Our purpose is threefold: To alleviate financial burdens and provide essential support to members facing hardship. We understand that unexpected events can create financial strain. Through various assistance programmes, the NTUC-U Care Fund provides a safety net for those in need, helping them cover essential living expenses. This is one of the ways we can help individuals and families and give back to society by supporting those who need assistance most. To enable members' children to build a brighter future through educational subsidies and opportunities for growth. We believe that every child deserves access to quality education. Our initiatives support students facing financial challenges, ensuring they can stay in school and reach their full potential. By investing in education, we help children and youths contribute back to society and be an enabler for the aspirations of the next generation. To support the recovery of members in times of contingency to rebuild their lives and livelihoods. When unforeseen circumstances strike, we help workers and their families get back on their feet. Our programmes provide financial assistance and resources to help individuals recover from setbacks so that they can rebuild their lives. This support enables individuals to regain their independence and contribute to society. The NTUC-U Care Fund embodies these values through various initiatives that directly address the needs of our beneficiaries, creating a positive ripple effect throughout the community. Supporting Singapore’s Working Families Strong families form the foundation of a thriving society. The NTUC-U Care Fund recognises the importance of supporting working families, particularly those facing financial challenges. Here’s how your charity donation can help: 1. Providing Financial Relief for Daily Essentials Rising living costs can place a significant strain on lower-income families. The NTUC-U Care Fund provides financial assistance in Singapore through initiatives like the NTUC Hardship Grant, helping families cover essential expenses such as groceries and school needs. This initiative ensures that families can meet their basic needs and maintain the standard of living. 2. Ensuring Access to Education for Children and Youths Education is a powerful tool for social mobility and personal growth. However, unforeseen circumstances can disrupt a child's education. The NTUC-U Care Fund, through programmes like the Education Awards and Youth Enable Programme, helps students stay in school by providing financial assistance for school fees, textbooks, and other educational expenses. This support enables children and youths to continue their education and reach their full potential, regardless of their family's financial situation.   Building Pathways to Stability and Growth Beyond immediate relief, the NTUC-U Care Fund focuses on enabling individuals and creating opportunities for long-term success. 1. Supporting Families in Building a Foundation The NTUC-U Care Fund provides essential financial assistance and resources, empowering families to establish a stable foundation. This support enables them to address immediate needs and proactively plan for a secure future, reducing their vulnerability to unforeseen challenges. 2. Facilitating Recovery and Reintegration When workers face setbacks like retrenchment or illness, the NTUC-U Care Fund can offer support for their recovery and reintegration. This support may include financial aid and access to resources that help them to regain their footing and return to work, promoting self-sufficiency and resilience. Building a More Inclusive and Resilient Singapore By addressing financial and educational challenges faced by workers and their families, the NTUC-U Care Fund contributes to a more inclusive and resilient Singapore. Our initiatives create a safety net for those in need, empower individuals to overcome adversity, and foster a sense of community and support. We believe everyone deserves the opportunity to thrive, and our work reflects this commitment to building a better future for all. By supporting the Fund, you are giving back to society and helping to create a stronger Singapore. Donate to NTUC-U Care Fund Support the NTUC-U Care Fund by donating to charity. Your generosity can make a difference in the lives of workers and their families, helping to build a stronger and more compassionate Singapore. Every donation counts. Make a donation