About us

JThe Singapore Statutory Boards Employees' Co-operative Thrift and Loan Society is a registered co-operative in service to members since 1925. Its' main objective is to combat widespread usury and indebtedness. The co-operative successfully accomplished this mission. The Committee members together with the members joined forces in order to work hand in hand make this Society grow from a small group to a bigger group, from small office to have its own office. Making sure that each and everyone's needs were met so they can feel sense of belongingness.

WHAT IS A THRIFT AND LOAN CO-OP

A Thrift and Loan Co-op is a socio-economic organization formed by members. It has the following objectives:
  1. to promote co-operation and self-help
  2. to encourage thrift;
  3. to prevent permanent indebtedness of its members by enabling them to obtain loans on reasonable terms;
  4. to receive deposits from members;
  5. to assist members to reduce the cost of living and improve their economic position.

THE CO-OPERATIVE PRINCIPLES

All Thrift and Loan Co-ops in Singapore conform strictly to the principles of co-operation, enunciated by the International Co-operative Alliance.
  1. Open a voluntary membership
  2. Democratic control – one member one vote
  3. Limited interest on Capital
  4. Distribution of surplus to members in proportion to their patronage
  5. Promotion of education
  6. Mutual co-operation among co-operatives at Local, National and International levels.