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CGS-CIMB pledges at least $1 mil to Community Chest, joins Change for Charity initiative

·3-min read

CGS-CIMB is committing at least $1 million over three years towards various social service agencies supported by ComChest.

CGS-CIMB Securities has pledged at least $1 million to the Community Chest (ComChest) through a three-year Corporate Social Responsibility programme, as part of a Memorandum of Understanding (MOU) with ComChest.

The brokerage is the first financial institution in Singapore to champion ComChest’s Change for Charity initiative, where ComChest partners businesses to provide opportunities for their customers to donate with ease.

Through this partnership, CGS-CIMB will encourage its customers and staff to donate to ComChest through three initiatives.

Firstly, an upcoming Change for Charity platform will allow CGS-CIMB clients to donate on a subscription basis, or when they make a trade.

In addition, CGS-CIMB employees may donate voluntarily monthly via payroll through the SHARE Programme. SHARE is a regular giving programme of ComChest to support over 100 social service agencies and 200 critical programmes that require regular support.

Finally, CGS-CIMB hopes to inspire its customers and staff to make direct contributions to ComChest.

Minister of State for Social and Family Development, and Education, Sun Xueling, witnessed the launch of the partnership on Jan 28. She says: “I am heartened that corporates like CGS-CIMB are supporting social causes and influencing positive efforts in the community. Through their platforms, they are making it easy for their customers and stakeholders to give back to the community.”

Sun adds: "The partnership between CGS-CIMB and ComChest can help foster a culture of giving, build a spirit of generosity and help those who are in need. Together, we can nurture and build lives together.”

CGS-CIMB is committing at least $1 million over three years towards various social service agencies supported by ComChest.

Speaking at the signing of the MOU at CGS-CIMB’s new offices in Marina Bay Financial Centre, Carol Fong, group CEO and CEO, CGS-CIMB Singapore, says: “As a company we believe in investing with sense and purpose. We are honoured to partner with ComChest and to be the first financial institution to launch the Change for Charity initiative.”

“With this partnership, we have made possible a direct platform for our staff, our clients and our company to facilitate donations to ComChest. More importantly, it is allowing us to create a community of givers to help those in need,” she adds.

Every year, Community Chest targets to raise over $50 million to support over 41,000 service users, including children with special needs and youth-at-risk, adults with disabilities, persons with mental health conditions as well as families and seniors in need of assistance.

In FY2020, ComChest disbursed $58.7 million to support 158 social service agencies and 268 programmes. By partnering with ComChest, the fundraising and engagement arm of the National Council of Social Service, CGS-CIMB hopes to uplift lives while encouraging others to give back to society, reads a Jan 28 press release.

Phillip Tan, Chairman of Community Chest, says: "We are encouraged by this partnership with CGS-CIMB. We appreciate that they are making it easy for their customers to donate with every transaction; this will foster a culture of giving from ground-up, and go towards ensuring sustainable support for those in need. It will multiply the positive impact we can make and galvanise the community to take action. I encourage more corporates to follow their lead to join hands with us to uplift communities and empower lives.”

Photo: CGS-CIMB

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