Cathay United Bank Co., Ltd has decided to give back to society by enabling individuals or communities to gain control over their lives and the resources necessary to live fulfilling and dignified lives. The “Financial Health” project proves its influence with a Social Empowerment trophy, won at the Asia Responsible Enterprise Awards 2024, organized by leading regional NGO, Enterprise Asia.
The UNSGSA Financial Health Working Group (FHWG) stressed that “Financial health is when I have what I need every day. Good financial health is a source of pride and wellbeing, while poor health generates stress, often serious stress”.
As a leader in the financial industry, Cathay United Bank Co., Ltd (CUB) also carries the burden of social responsibility upon its shoulders and continues to voice the importance of financial health to the public. CUB has long utilized its financial influence as well as a wide range of financial services, products, and courses to realize financial inclusion. By assisting the public in bolstering their financial health and making the best possible asset allocations, CUB aims to help customers accrue wealth and achieve their life goals.
To raise people’s awareness of financial health, CUB issued the 2023 Taiwan Financial Health Report, which uses a macroeconomic model to identify three essential elements for strengthening financial health and urges people to review their financial status on a regular basis. The bank also created a “Financial Health Quiz” platform, where users can obtain a financial health diagnosis and a personalized financial health improvement plan by filling out an online survey that takes less than 10 minutes.
CUB’s efforts towards financial health have been met with widespread praise and support. CUB’s Taiwan Financial Health Report is both rich and informative, it was widely reported and praised by the media, sparking further public discussion. Within three weeks of its release, it was posted and reported almost a hundred times on television, in newspapers, and online. It consequently encouraged the public to voice their opinions, share them, and participate in the financial health test. Thus, the report succeeded in raising interest and awareness of the importance of financial resilience.
The financial health promotion section has been reported online over 97 million times since its launch three months ago, attracting over 130,000 people to participate in the Financial Health Quiz. Public interest in financial health increased immensely, guiding many on their path to achieving financial stability.
Looking to the future, CUB plans to gradually integrate its educational model with its communication model, enabling it to better understand and address customers’ financial worries and concerns. To achieve financial inclusion, CUB will continue to create practical and innovative financial tools and guides, assisting everyone in strengthening their financial health and achieving their life goals.
The “Financial Health” project has found great success. CUB is dedicated to empowering the Taiwanese people by strengthening their financial health and urges people to review their financial status on a regular basis. These actions are intended to have long-term sustainability in the community by elevating the people with more equitable opportunities for future prosperity.
About Enterprise Asia
Enterprise Asia is a non-governmental organization in pursuit of creating an Asia that is rich in entrepreneurship as an engine toward sustainable and progressive economic and social development within a world of economic equality. Its two pillars of existence are investment in people and responsible entrepreneurship. Enterprise Asia works with governments, NGOs, and other organizations to promote competitiveness and entrepreneurial development, uplifting the economic status of people across Asia and ensuring a legacy of hope, innovation, and courage for future generations. Please visit https://www.enterpriseasia.org/ for more information.
About Asia Responsible Enterprise Awards (AREA)
The Asia Responsible Enterprise Awards program recognizes and honors Asian businesses for championing sustainable and responsible entrepreneurship in the categories of Green Leadership, Investment in People, Health Promotion, Social Empowerment, Corporate Governance, Circular Economy Leadership, Corporate Sustainability Reporting, and Responsible Business Leadership. For more information, visit https://enterpriseasia.org/area/.