APS Bank has launched a Provident Fund to support staff members facing challenging personal and family circumstances, an idea that “echoes to the very origins of the Bank over a century ago”, said CEO Marcel Cassar.
Although APS says it has always supported individual cases as best as possible, the APS Provident Fund will now provide a structure that steps in to assist cases involving not only employees but also their dependents.
The list of such unpredictable situations is endless, from social to medical, and the pandemic has only aggravated the difficulties for many.
Aside from the Bank’s own contribution to the Fund, staff members can participate either as donors on a voluntary basis or as beneficiaries. Donations can take various forms, including fund-raising activities and offering vacation leave to the Fund’s assistance pool.
Mr Cassar commented: “We are again putting the welfare of our employees and their families first. The Provident Fund, which will be managed by a Committee and have its own Charter, will provide support to our staff in a structured way and when they need it most.”
He continued: “Launched just before Christmas, I am touched by the overwhelming response with which this was welcomed across the APS Group.”