ACCA members have been helping fellow members in financial distress for over a century now. The Chartered Certified Accountants’ Benevolent Fund (CCABF) was established by trust deed in 1918 and is a UK registered charity.
Over the past four years we’ve helped members and their families from 28 countries, and we have been able to do so from donations and legacies from generous ACCA members, and income from our portfolio of investments.
Even the lives of busy professionals can take unexpected turns. So CCABF is here to provide support to members (past and present) and dependants who are experiencing hardship or distress at any time.
CCABF is also here to help those who have suffered in more personal circumstances: for example, where the member has died suddenly leaving a young family to cope without the main breadwinner; where the member has had to temporarily give up work to deal with a family member’s mental health issues; where the member or family member is in need of a medical operation; or where the member has suffered domestic abuse from a partner.
Following the 2004 Tsunami, CCABF established a Disaster Fund, which it uses to help members and their families impacted by natural disaster. For example, we have helped members affected by hurricanes in the Caribbean in 2017 and the Bahamas in 2019.
In the last 18 months we have all been impacted by the global pandemic, which has led to many deaths, job losses, and income reductions due to restrictions in all parts of the world. India was particularly badly affected earlier this year from a second wave of Covid, in April and May. With ACCA’s assistance we reached out to members and gave them grants from our Disaster Fund via a fast-track application process. We also helped members in Saint Vincent and the Grenadines following the volcano eruption in April.
We would like to help more people, especially in these uncertain times
CCABF is governed by a Board of Trustees who meet every quarter to consider applications made to it. After ascertaining the individual’s need, we can support them financially. The trustees usually review between 30 and 40 applications each year, although there has been an increase this year because of Covid.
Each application is considered on its merits, and the trustees will help with the provision of monetary grants where possible, although it should be noted that we don’t pay membership subscriptions, pay off debts or assist students.
However we are continually concerned that not all of the membership is aware of CCABF – for example, dependants of deceased members may not be aware of its existence and of how it might be able to help them when they are having difficulties.
Sometimes members in need are referred to us from other charities; however, we do rely on our members and ACCA staff to let others know of the work we do. Through the local member networks, ACCA members and staff are key in promoting CCABF to the wider membership who they may know are going through difficulties that CCABF may be able to help with.
ACCA’s national offices around the world are also vital, as they act as very effective conduits to our members and their families. They may know of members whose circumstances have changed dramatically and who could benefit from making an application to CCABF.
The trustees are deeply grateful for the financial support that ACCA and individual members provide to CCABF. However, we would like to help more people, especially in these uncertain times of Covid and rapidly rising living costs, and we seek your assistance in drawing the CCABF to the attention of anyone you think might deserve support to make life a little less stressful for eligible applicants.