Visa enters second year of partnership with OCBC Bank, NTUC FairPrice and NTUC Link to support underprivileged families

08/27/2016

Visa, along with partners OCBC Bank, NTUC FairPrice and NTUC Link held their second annual Food from the Heart programme today, providing 625 families with S$50,000 worth of groceries and daily necessities.

The event commenced on 27 August as 80 families, joined by more than 40 volunteers from Visa, OCBC Bank, NTUC Link and NTUC FairPrice, did their grocery shopping at the FairPrice Xtra outlet at Changi Business Park. Each family was given NTUC FairPrice vouchers worth S$80 and volunteers assisted families and advised them how to make wise budgeting decisions when doing their shopping.

Ms. Ooi Huey Tyng, Visa Country Manager for Singapore and Brunei, said, “For the second year running, Visa is honored to be launching this programme in support of Food from the Heart with our partners. This year, we are committing more money to help more beneficiaries. Apart from the monetary contribution, we are also working directly with these families, providing guidance on financial literacy and ways to make the most out grocery budgets. Visa and its employees are deeply committed to supporting the communities in which we live, work and conduct business. This programme is our way of making a meaningful contribution to the lives of those less fortunate and giving back to the community.”

Mr Ching Wei Hong, Chief Operating Officer, OCBC Bank, said, “Building a culture that believes in a sustainable contribution and support to the society is what we, as individuals and as an organisation, hold onto strongly. We want to step forward and share our time with our community. It is our privilege to be able to collaborate with our trusted and valued partners – NTUC FairPrice, NTUC Link and Visa, for the second year running. Through this, we hope to make a positive impact, benefiting the lives of these families and overall, building stronger community bonds.”

Mr Seah Kian Peng, CEO of NTUC FairPrice, said, “FairPrice embraces the values of Doing Good and giving back to the community as part of our corporate philosophy and social mission. Being able to work together with our strategic partners to bring joy and relief to the less fortunate demonstrates how we can collectively do our part and make lives better for all.”

“NTUC Link’s core mission is to serve and support the working families of Singapore. We are delighted to have the opportunity through Food from the Heart, to make a contribution to families in need. Grateful for our nation’s 50 years of progress that has greatly enriched so many lives, we are ever-ready to open our hearts to help and serve those in our community that have been less fortunate”, concluded Mr Tony Tan, CEO of NTUC Link.

Mr Anson Quek, Executive Director, Food from the Heart (FFTH), said, "We are so grateful to have the support of Visa, NTUC FairPrice, NTUC Link and OCBC. About 105,000 HDB households in Singapore have a household income of less than $1,500 each month. For these families, skipping meals or eating lower nutritional food is common as they struggle to pay other utilities, medical and school expenses. Currently FFTH supports more than 25,000 people which is a long way from reaching out to all who need our help but we are very encouraged by the support of our partners and their contributions mean so much to the beneficiaries.”

 

About Visa

Visa Inc. (NYSE: V) is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world's most advanced processing networks — VisaNet — that is capable of handling more than 65,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit, or set rates and fees for consumers. Visa's innovations; however, enable its financial institution customers to offer consumers more choices: pay now with debit, pay ahead of time with prepaid or pay later with credit products. For more information, visit www.visa.com.sg, http://visaapnews.asia/ and @VisaNews.

 

About OCBC

OCBC Bank is the longest established Singapore bank, formed in 1932 from the merger of three local banks, the oldest of which was founded in 1912. It is now the second largest financial services group in Southeast Asia by assets and one of the world’s most highly-rated banks, with an Aa1 rating from Moody’s. Recognised for its financial strength and stability, OCBC Bank is consistently ranked among the world’s strongest and safest banks by leading market research firms and publications.

OCBC Bank and its subsidiaries offer a broad array of commercial banking, specialist financial and wealth management services, ranging from consumer, corporate, investment, private and transaction banking to treasury, insurance, asset management and stockbroking services.

OCBC Bank’s key markets are Singapore, Malaysia, Indonesia and Greater China. It has over 630 branches and representative offices in 18 countries and territories. These include the more than 330 branches and offices in Indonesia operated by subsidiary Bank OCBC NISP, and 95 branches and offices in Hong Kong, China and Macau under OCBC Wing Hang.

OCBC Bank’s private banking services are provided by subsidiary Bank of Singapore, which has received increasing industry recognition as Asia’s Global Private Bank, and was voted “Outstanding Private Bank in Southeast Asia in 2014” by Private Banker International.

OCBC Bank's insurance subsidiary, Great Eastern Holdings, is the oldest and most established life insurance group in Singapore and Malaysia. Its asset management subsidiary, Lion Global Investors, is one of the largest private sector asset management companies in Southeast Asia.

For more information, please visit www.ocbc.com.

 

About NTUC FairPrice

NTUC Fairprice Co-operative Ltd was founded by the labour movement in 1973, with a social mission to moderate the cost of living in Singapore. From one supermarket, it has grown to become Singapore’s largest retailer serving about 400,000 shoppers daily, with a network of over 120 outlets, comprising FairPrice supermarkets, FairPrice Finest and FairPriceXtra. Its convenience arm comprises a network of over 160 FairPrice Xpress and Cheers convenience stores, which serves over 100,000 customers daily. NTUC FairPrice also owns a Fresh Food Distribution Centre and a centralised warehousing and distribution company.

Today, with its multiple retail formats serving the varied needs and interests of people from all walks of life, NTUC FairPrice has kept pace with the changing needs of its customers while remaining committed to its social mission and its aspiration to be Singapore’s leading world-class retailer with a heart.

Guided by the philosophy to do well in order to do good for the community, NTUC FairPrice set up the FairPrice Foundation in 2008 to focus its giving efforts to provide a better life for the community. FairPrice Foundation focuses its giving on three strategic thrusts – the poor and needy, nation building and community bonding, and advancing workers’ welfare. FairPrice has since donated over $88 million to the Foundation to further these three areas of focus.

For more information on NTUC FairPrice, visit http://www.fairprice.com.sg.

 

About NTUC Link

Incorporated in 1998, NTUC Link Private Limited aims to deliver greater value and savings to members through the issuance of LinkPoints and attractive rewards when members shop with the programme’s many popular partners. As a social enterprise, NTUC Link focuses on giving back to society and stretching the value of members’ dollars through LinkPoints and discounts.

NTUC Link spearheads Plus!, Singapore’s largest and most successful consumer rewards programme. The Plus! Rewards Programme has 1.75 million members and over 1,100 participating in-store and online partners providing exclusive deals and discounts, and when members spend, they earn LinkPoints to redeem for instant or future rewards.

Plus! Programme reaffirms NTUC Link’s mission to bring more relevant privileges and benefits to NTUC Members, customers of NTUC social enterprises and working families of Singapore. For more information, visit www.plus.com.sg.

 

About Food from the Heart

Food from the Heart is a non-profit organisation founded in February 2003 by Singapore-based Austrian couple Henry and Christine Laimer who were inspired to channel surplus food from bakeries to families in need after they read an article about bread wastage.

Today, Food from the Heart reaches out to the less fortunate by alleviating hunger through a food distribution programme and bringing joy through the distribution of toys and birthday celebrations. With the support of donors, food industry partners and more than 1,700 volunteers, Food from the Heart made a difference to the lives of 25,000 beneficiaries throughout Singapore by distributing S$4.8 million worth of food in 2015 to help fight hunger. For more information, please visit www.foodheart.org.