On 5 May 1964, Singapore Bank Officers’ Association (SBOA) was formed to represent the Officers in the banks on workplace issues and grievances.
Over the years, the banking industry has transformed tremendously amidst the digital disruption. The union leaders of the SBOA decided change is imminent and the union needed to reposition the union’s mission to serve even more workers from the industry. The union leaders voted to change the union’s constitution to allow all persons who are employed in any capacity in the banking and financial services industry in Singapore to join the union.
The union has changed its name from Singapore Bank Officers’ Association to the Banking and Financial Services Union (BFSU) to reflect their renewed mission and determination to stay relevant and strengthen the union’s outreach to Professionals, Managers and Executives (PMEs) in the banking and financial services industry. On 11 January 2019, BFSU was launched, together with the signing of Memorandum of Understanding (MOU) officially recognizing Singapore FinTech Association as a partner of the union’s Finance Industry Professionals Chapter. Under this collaboration, BFSU and SFA will provide their expertise to help professionals upgrade their skill sets as the industry continues to face disruptions, challenges and opportunities. The partnership will also see more platforms for PMEs to build their network and connect with like-minded professionals within the industry.
Frequently Asked Questions
1) Am I allowed to join a trade union?
Union Membership is open to persons above 16 years of age with valid NRIC/FIN number, except personnel from Singapore Police Force, Singapore Prison Service, Civil Defence Force, Singapore Armed Forces, Narcotics Service or Auxiliary Police bodies (Certis Cisco, Aetos and SATS), and foreign domestic workers.
2) I was told that white collared executives are not allowed to join the union.
Everyone can join a union, even white-collared executives. Employers cannot discriminate against or prevent their staff from becoming a union member, or from seeking help from their union. You do not have to inform your company of your membership status.
If your company is not unionised, you may join as a General Branch member.
If your company is unionised, you may contact the union leaders of the branch committee in your company to find out more about Ordinary Branch membership.
3) What's in it for me to join the union?
When you join a union, you add to the collective voice of the Labour Movement, a voice that has and will continue to push for better wages, welfare and work prospects for all working people in Singapore.
When you become a union member, you are supporting while also being supported by fellow union members, as a collective, to advocate and protect the rights of the working people of Singapore. We are stronger together.
Find out more about the history of NTUC and its contributions here: https://reunion.ntuc.org.sg/features/
Please feel free to approach us regarding union membership by simply submitting your query and contact details in the chatbox.
You can also find out more about membership privileges here: https://www.ntuc.org.sg/wps/portal/up2/home/membership/