Did you know the Singapore Bank Officers’ Association (SBOA) was set up even before Singapore’s independence in 1964?
The union turned a page in its history earlier this month when it repositioned itself to represent more professionals and changed its name to Banking and Financial Services Union (BFSU). The move expands its outreach to senior-level workers as well as financial services sub-sectors such as fintech.
The long-standing union, which has amassed some 6,200 members, will be celebrating its 55th anniversary in November 2019.
We spoke to a few veterans in BFSU’s Executive Council (Exco) to understand how its evolution over the years has made it to what it is today.
What drives you as a union leader?
There are cases where you see very worried members. You see the sense of relief when they thank you for solving their problems. Most of our members are in their mid-career so they have families to feed. It’s the satisfaction.
One thing I cannot forget is how some of them said, “Lucky I joined the union.” It’s a very good testimony. If a union leader goes down to companies, it’s hard-sell. But if your own colleague is telling you about the benefits, it’s a different story.
What prompted the change from SBOA to BFSU?
Our union name was set in 1964. Over the years, job functions and titles have changed, causing a lot of grey areas. Nowadays, they are not known as bank officers anymore. They are employed as an associate, management trainee and so on. If we don’t broaden this category, we have the problem of recruiting new members.
I’m very happy that everybody is supporting this move down the line. When we called for the constitution change, the majority voted yes.
What sparked your interest in union work?
I lived in Tanjong Pagar in the past. When I was younger, and it was around 1960, there was a night soil carrier strike. I heard people always talking about the union in Hokkien. I became fascinated by what trade unions did. This stayed with me, so when I was invited into the union, I gladly accepted.
As a union leader, you can help people and make a difference, albeit in very small way. It is meaningful enough to make me want to stay on.
What is most memorable to you?
The mergers of the local banks that happened from 2001 to 2002 affected our membership and leadership. Our union membership dropped drastically because it was not only one merger – UOB [United Overseas Bank] merged with OUB [Overseas Union Bank] and OCBC acquired Keppel TatLee Bank.
Quite a number of union leaders were retrenched. There was a lot anxiety at that time, people were wondering who would be the next to go. But, at the end of the day, we gritted our teeth and pulled through. We negotiated better retrenchment benefits for those affected, which included career guidance and a training grant to help them gain employment.
What brought you to the union?
It offers me another perspective of banking. My job used to be very tedious. In the old days, the banks collect all the utility bills such as telecoms. For one whole year, I had to collect PUB bills. My queue was always the longest. All the housewives would queue after doing their marketing. The union gave me insights into why and how things were done.
What are your thoughts on the disruptions in the industry?
Banks are not the only ones that are facing disruptions. It’s just that the industry is very prominent – everyone is using e-payments. Although there are so many disruptions, we are also the fortunate ones because the banks are at the forefront of technology. We started from manual banking, and then went on to online banking and mobile banking. We learned all these. In that sense, our learning has been incremental.
With digitalisation, bank officers do not have to handle telephone calls at the branches. Calls are directed to the hotline. In the past, we took requests such as cheque book orders from customers, asked them to come back later, and supported behind the scenes. Now, officers are taking a proactive role instead of a passive one, standing behind the tellers and solving customers’ problems on the spot as much as possible. We want to be a one-stop solution.
