POSB AND COUNCIL FOR THIRD AGE TO EXPAND POSB ACTIVE NEIGHBOURS
PROGRAMME WHICH HELPS SENIORS STAY ENGAGED WITH COMMUNITY
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Number of POSB Active Neighbours to double to 120 next year
SINGAPORE, 1 December 2009 - POSB, fondly known as The People's Bank, and the Council for Third Age (C3A), which promotes active ageing here, said today that the pilot POSB Active Neighbours programme has been a success with seniors and customers.
The POSB Active Neighbours programme is an initiative launched under a strategic partnership formed between C3A and POSB in June this year. The partnership seeks to leverage the two organisations' expertise, experience and networks so as to better serve the financial needs of seniors in Singapore.
POSB Active Neighbours
Under the POSB Active Neighbours programme, seniors were recruited to work up to two days a week at POSB. Within two weeks of its l aunch in June this year, POSB received close to 1,200 applications. Since July, 60 POSB Active Neighbours have completed a special three-day training programme and were deployed to 52 POSB branches island-wide. Their tasks include assisting customers, especially their peers, with their banking transactions and encourage the use of self-service banking services.
"As neighbours first, bankers second, POSB is pleased to provide a platform for seniors to stay engaged in the community and acquire new skills. The response from the POSB Active Neighbours and our customers is heartening. Many of our POSB Active Neighbours have told us that they like this programme because it allows them to play an active role in the community while maintaining their lifestyles and family commitments. Our customers, especially the seniors, are pleased that someone is at hand to facilitate their banking transactions," said Mr Rajan Raju, Head of Consumer Banking Group, DBS Bank.
"Riding on the success of the pilot, we have therefore decided to expand the programme and recruit another 60 POSB Active Neighbours next year," added Raju.
The programme has provided seniors like Betty Lee, 53, meaningful employment and a chance to contribute to the community. Lee has been working at POSB Suntec City Branch since July. She has 17 years' experience in the banking industry and retired early this year.
"To me, life is always "learning in progress". The POSB Active Neighbours programme gave me a chance to learn more about the retail side of banking and self-service banking services. Technology is the way to move forward and I am pleased to play a part in encouraging seniors to use ATMs and other self-service banking services. I've made many new friends in other Active Neighbours and regular customers, so I'm really enjoying myself!" said Lee.
The pioneer batch of POSB Active Neighbours was recognised in a ceremony this morning. The ceremony was presided by Mr Lim Boon Heng, Minister in the Prime Minister's Office and minister-in-charge of ageing issues.
Mr Gerard Ee, chairman of Council for Third Age, said, "While the POSB Active Neighbours programme may be small today, it has the potential to grow and be a blueprint for how businesses can provide meaningful and desirable employment to seniors and better serve the needs of a significant customer segment, without having to make huge investments in research and product development or making drastic changes in the workplace."
The way in which the programme was designed displayed sensitivity to the needs of older consumers and older workers, he added.
Seniority Has Its Privileges
Recognising the invaluable contributions of seniors to the nation and community, the two organisations have an ongoing reward programme to help seniors stretch their dollars as they engage in their favourite pastimes. In conjunction with the festive season, POSB branches will be giving out vouchers entitling seniors to special benefits ranging from dining and IT courses, to cooking and exercise classes.
POSB also provides special products and services for seniors. Every Tuesday, POSB will set up dedicated counters to serve seniors d uring the first three opening hours. On what's dubbed as "Special Tuesdays", seniors will also be served drinks and snacks as they wait to perform their banking transactions.
POSB also offers 50-Plus Care, a specially designed personal accident plan for seniors. It also extends preferential rates for SGD fixed deposits between SGD10,000 and SGD49,999 for six to 24 months tenors - customers aged between 50 - 59 years old and those older will enjoy 0.1% and 0.125% above board rate respectively.
POSB currently serves 1.25 million customers aged 45 and above, many who started banking with POSB from a very young age. In appreciation of their firm support, POSB will be giving away umbrellas to this group of customers at its branches on rainy days in December.
About Council for Third Age (C3A)
Set up in May 2007, Council for Third Age is an independent body that promotes active ageing, so that seniors can achieve a better quality of life in all the six dimensions of wellness – social, intellectual, physical, vocational, emotional and spiritual. The Council plays a leadership role in driving the thrust towards creating an active ageing culture in Singapore , and partners businesses and community organisations to develop products and services that fulfill the aspirations and interests of seniors.
About POSB
A part of the DBS Group, POSB is the largest local bank in Singapore with more than 3.5 million customers. Having served generations of Singaporeans for the past 132 years, it is known as The People's Bank, and prides itself in being "Neighbours first, bankers second". With a good understanding of Singaporeans through the years, POSB offers products and services that are relevant to the savings, borrowing, investment and insurance needs of all Singaporeans. In expanding its product mix, POSB launched the "POSB Everyday Credit Card" in 2005, offering savings where it matters – petrol, utilities, groceries and more. As part of its 130th anniversary celebrations, POSB refurbished its branches in 2007. With the opening of four new full service branches in December 2008, POSB has a network of 52 branches. With over 900 ATMs and close to 200 Cash Acceptance Machines across the island, POSB's self-service banking network is the largest in Singapore. POSB acknowledges the passion, commitment and can-do spirit in each of its staff. For more information, please visit www.posb.com.sg.