Thai Credit teams up with its alliances to launch CSR projects through the Thai Credit Foundation "EMpower for Community" Initiatives in a bid to create self-reliant communities and promote local wisdom for economic, social and environmental sustainability.
Thai Credit Retail Bank PLC (Thai Credit) announced the launch of two social programs through the Thai Credit Foundation "EMpower for Community" Initiatives, namely the Self-Reliant Community Development Project and the Community-Driven Product Development Project. As part of the roll-out, the Foundation has inked a MoU with Nakhon Pathom Rajabhat University in a joint effort to develop two self-reliant communities in Lam Hoei Sub District, Don Tum District of Nakhon Pathom. The Self-Reliant Community Development Project, in particular, is developed based on the BCG Economy Model which applies the concepts of bio economy, circular economy and green economy to develop high value products and services that are friendly to the environment and require less resource input, while conserving natural and biological resources. The concept of this new economic model for sustainable growth is in line with the United Nation's Sustainable Development Goals.
Mr. Winyou Chaiyawan, chairman of the Thai Credit Foundation said that the Foundation was established by Thai Credit Retail Bank to promote and support community development, social and cultural activities as well as art and the environment. To achieve the goals, the Foundation has initiated the two CSR programs as part of the Foundation's EMpower for Community Initiatives which are developed based on Thai Credit's business philosophy: Everyone Matters.
Under the Self-Reliant Community Development Project, the Foundation has worked with its alliances to develop a pilot project by creating two self-reliant communities - one at Moo 8 of Baan Nikom Community and another at Moo 14 of Baan Suk-Sabai Community, both in Nakhon Pathom province. The program will serve as a pilot project that will later be expanded to other areas. It also helps ensure equal access to capital resources and formal forms of financial services to promote equality, while teaching financial literacy and cultivating financial disciplines to members of the community. Moreover, the Foundation intends to create educational opportunities for students in the communities and encouraging farmers to adopt organic farming that promotes the health and safety of the farmers themselves and consumers.
The Community-Driven Product Development is another important project under the Foundation's Initiatives. It's designed to develop career development opportunities and generate income in the community by using local wisdom to create value-added products just like OTOP products for sale. OTOP community enterprises from 77 provinces are encouraged to submit products they've created as competition. The products should be creative and friendly to the environment as well as represent the community identity. And the bank will use the winning product as giveaways for customers who use its services.
"As an active member of Thai society and local communities, Thai Credit has initiated the CSR programs through the Thai Credit Foundation as a way to give back to society. We intend to strengthen communities, help them be more self-reliant and enhance the quality of their lives." Mr. Winyou said.
Mr. Roy Agustinus Gunara, vice chairman of the Thai Credit Foundation said improving the well-being of community members is one of the Thai Credit Foundation's objectives. The Foundation aims to give financial knowledge and instill financial discipline in members of the communities. And that can help small business owners make smart business decisions and grow their businesses, improve the financial health of community members and mostly importantly solve the problem of household debt, which has long been a concern for Thailand and hinders economic growth. Also, the Foundation plans to teach good money habits to students and children in the community, which is important for their wellbeing later in life.
"Money is an integral part of daily life. And developing financial skills for life is crucial for financial stability. Being financially literate helps people overcome financial problems, manage money effectively, avoid financial traps and having too much debt. Thai Credit has been dedicated to giving financial knowledge and building financial immunity through the Tang To Know-how program. More than 150,000 participants including small business owners, individuals and youth have taken part in the program over the past 6 years.
"Through the Self-Reliant Community Development project, we plan to give financial knowledge to members of the communities, farmers and teach good money habits to students in four schools and give them the financial rules that they won't learn in school. I hope that participants will apply the skills they will learn from the training program in life to improve their financial health, manage personal finance effectively, make money within their community and have good financial immunity, which is the foundation of the country's sustainable economic development and growth." Mr. Gunara said.