Citi Hong Kong and the Tung Wah Group of Hospitals are proving that one can indeed bank on hope. Launched in 2008, the Hope Development Accounts (HDA) programme aims to help poor families from Tin Shui Wai, in Hong Kong's northwest New Territories.
In its pilot phase, the programme helped 20 poor women from the district through financial assistance, training and community mentorship.
Citi Hong Kong, which has operated in the city for more than a century and has about 4,000 employees spread across some 40 local offices and branches, set up charity savings accounts for the participants and matched their deposits over a maximum of two years.
The group organised training courses on wealth management and entrepreneurship. Participants learned the basics of marketing and accounting, and occupational skills through English-language and computer classes.
For its part, Tung Wah offered the venue for the training and helped participants through day-care services and emergency cash, where needed.
After the pilot scheme ended this year, the HDA programme was introduced in two other districts - Tuen Mun in western New Territories and Lei Tung Estate in Ap Lei Chau, off south Hong Kong Island - with 30 beneficiaries selected from each area. Twenty new participants were selected from Tin Shui Wai.
'Our ultimate goal is to help participants stand on their own feet and learn to take care of themselves and their families,' says Alvin Mak, head of markets and banking at Citi Hong Kong.
