Thrift and loan societies are co-operatives
that encourage thrift by accepting deposits from members and
assisting members with loans on reasonable terms.
A thrift and
loan society is an association of persons who are grappling
with the same economic challenges and who join together on
a basis of equal rights and obligations through a democratically
controlled enterprise.
Majority of the credit co-operatives are
work-based where employees of the organisation are recruited
as members of the co-operative. As a form of staff benefits,
organizations offer check-off system, which enable deductions
of staff monthly salaries for contributions towards their subscription
accounts and loan repayments with their co-operatives.
Today, credit co-operatives play an important
role in upgrading the economic and social status of their members.
SNCF currently implements a self-regulatory
framework for the adoption by the credit co-operatives. The
framework is a self-regulating mechanism aimed at improving
the practice of risk management and corporate governance among
the credit co-operatives. Under the framework, credit co-ops
are required to maintain stipulated financial ratios of a minimum
of 10% and 6% for the liquidity and capital adequacy respectively.
| |
Credit Co-operatives Sector
|
Tel No |
Fax No |
| 1 |
AUPE
Multi-Purpose Co-operative Society Ltd |
6280-8033 |
6280-0854 |
| 2 |
Ceylon Tamils' Multi-Purpose Co-operative Society Ltd |
- |
- |
| 3 |
Citiport Credit Co-operative Ltd |
6278-6504 |
6272-8192 |
| 4 |
Customs Credit Co-operative Society (S) Ltd |
6338-4890 |
6338-4870 |
| 5 |
Energy
& Utilities Employees' Co-operative Ltd |
6291-2100 |
6291-2398 |
| 6 |
ExxonMobil Employees' Co-operative Ltd |
6867-1863 |
6867- 6063 |
| 7 |
Jurong Shipyard Multi-Purpose Co-operative Society Ltd |
6262-7538 |
6266-2639 |
| 8 |
Kampung Pasiran Multi-Purpose Co-operative Society Ltd |
6251-2729 |
- |
| 9 |
Keppel Credit Union Co-operative Ltd |
6273-1555 |
6273-4273 |
| 10 |
Malay Settlement Multi-Purpose Co-operative Society Ltd |
6743-1211 |
- |
| 11 |
Pergas
Multi-Purpose Co-operative Ltd |
6346-9356 |
6346-3450 |
| 12 |
SATU
Multi-Purpose Co-operative Society Ltd |
6541-6090 |
6545-9221 |
| 13 |
Sembawang Co-operative Thrift & Loan Society Ltd
|
6755-5382 |
6755-5382 |
| 14 |
S'pore Bank Employees' Co-operative Thrift & Loan Society Ltd |
6392-1995 |
6392-1995 |
| 15 |
S'pore Credit Co-operative League Ltd (SCOPE) |
6273-1555 |
6273-4273 |
| 16 |
S'pore Government Staff Credit Co-operative Society Ltd |
6337-4936 |
6339-6772 |
| 17 |
S'pore Kadayanallur Muslim Co-operative Thrift & Loan Society Ltd |
- |
- |
| 18 |
S'pore Malay Teachers' Co-operative Ltd
|
6743-9595 |
6743-9559 |
| 19 |
S'pore Mercantile Co-operative Society Ltd |
6348-5167 |
6447-3265 |
| 20 |
S'pore Police Co-operative Society Ltd |
6334-8055 |
6334-8497 |
| 21 |
Singapore Polytechnic Co-operative Ltd |
6870-4793 |
6773-0064 |
| 22 |
Singapore Prison Service Multi-Purpose Co-operative Society Limited |
6842-8193 |
6744-1048 |
| 23 |
Singapore Public Works Employees’ Credit Co-operative Society Limited |
6291-6341 |
6291-7002 |
| 24 |
Singapore Shell Employees’ Union Co-operative Limited |
6735-8825 |
6735-2125 |
| 25 |
Singapore Shipbuilding & Engineering Multi-Purpose Co-operative Society Limited |
6861-5914 |
6861-1601 |
| 26 |
Singapore Statutory Boards Employees’ Co-operative Thrift & Loan Society Limited |
6344-8627 |
6345-2971 |
| 27 |
Singapore Teachers’ Co-operative Society Limited |
6440-4393 |
6440-3382 |
| 28 |
Straits Times Press Co-operative Thrift & Loan Society Limited |
6319-1123 |
6319-8315 |
| 29 |
Telecoms Credit Co-operative Limited |
6319-3700 |
6738-1977 |
| 30 |
TRC Multi-Purpose Co-operative Society Limited |
6333-4656 |
6333-5616 |
If you want to set up a co-operative in any
of the above sectors, please contact SNCF at
Tel: 6602-0747.