As the bank evolves and modernises, it does so with ever fewer numbers of permanent full-time staff from which to seek donations. This underlines the reliance the fund has on the generosity of retired staff members.

We welcome the opportunity to be able to offer our sincerest thanks to many of your members, who I know have been generous supporters of the Florin Fund also.

With renewed thanks and kindest regards,

Background

• Established in 1942 to provide financial support to St Vincent DePaul.
• The original monthly contribution was 2 shillings “a florin”
• Current contributions vary from c€1 to €5pm
• 100% of funds raised are donated annually
• Contributions are mostly taken by way of Payroll deductions from full-time & retired staff, with a small number of staff contributing by Standing Order
• It is estimated that the fund has donated c€3.5M since its inception

Use of funds

• The funds donated have traditionally been ring-fenced for use by the charity for the purposes of helping families to fund education costs. It was felt by the fund that ring-fencing our donation for this purpose would maximise its potential long term benefit.
• We relaxed this rule for the 2020 donation as SVP traditional fund raising channels were impacted due to Covid 19 (church collections / charity shops etc). This was at a time when they were receiving more requests then ever for help with food & energy costs.
• We are making a €150,000 donation in December 2021, which will again be ring-fenced for education costs

Most recent donations
2017 – €100k donated by the fund for education costs
2018 – €100k donated by the fund for education costs
2019 – €100k donated by the fund for education costs
2020 – €50k donated by the fund for food / energy costs
2020 – €50k matched funded by AIB Bank as part of AIB Together fund raising initiative
2021 – €150k to be donated by the fund for education costs

Thank you from SVP

Breaking the cycle:
We know education can break the cycle of poverty. But if children don’t have the materials they need to learn, or they can’t take part in activities like their friends, this negatively influence their experience of school. If we want all children to reach their potential, school costs must stop being a barrier to participation.

Unfortunately, before children from disadvantaged backgrounds even start school, they have already fallen so far behind their peers, that it is almost impossible to make up the lost ground.

This is why the donation received from the AIB Staff Florin Fund is so welcome and appreciated.  The funds will be used will be ringfenced to support families with primary and second level school costs such as uniforms, books, materials, pay for transport cost, or help with the cost of school trips.

Thanks to the generous support of the AIB Staff Florin Fund, you will be helping  to ensure that hundreds of primary and secondary level children nationwide have what they need to positively participate in school reach their potential.