CashUP Family Savers
CashUP Family Savers is a financial literacy workshop with a matched savings component sponsored by Maybank to encourage low-income families to save for a better future. The programme aims to help these families kick-start a savings habit by equipping them with financial knowledge and money management skills. The families learn budgeting and savings skills through 3 compulsory financial education workshops over 6 months. These workshops are also attended by a pool of 15 successful past graduates who share their experiences in the hope of inspiring the participants. During this period, families also enjoy dollar-for-dollar matching on their savings and milestone bonuses of up to $500.
In 2018, Central Singapore CDC worked with 5 partners and organisation including Family Service Centres, Self-Help Groups and Grassroots Organisations to benefit 260 low-income families under the CashUP Family Savers programme.
“Although it’s a challenge to set aside money sometimes, I make an effort to do it, so that my savings will be doubled. It’s too good of an opportunity to waste. Without this programme, it will take me twice as long to save up. Thus I am very thankful to know about this programme through the CDC.” – Mdm Lisiani
Residents may sign up for the programme via referrals from Social Service Offices (SSOs), Grassroots Organisations, or Central Singapore CDC.
Interested community partners who would like to start the programme may contact the CDC (with a minimum of 15 families to start).
Mr Wee Peng Yu
Partnerships & Programmes