History
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Joining a Thrift and Loan Co-op is one of the best ways by which you can free yourself from financial difficulties and at the same time inculcate the habit of thrift. The idea of a Thrift and Loan Co-op was first mooted as far back as 1925. Wage earners were then at the mercy of unscrupulous moneylenders who charged exorbitant rates of interest. The thrift and loan type of co-operation was then introduced in Singapore to combat widespread usury and indebtedness It was also the earliest form of co-operative movement in Singapore. SSBEC T&L Society Ltd
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The Singapore Statutory Boards Employees' Co-operative Thrift and Loan Society is a registered co-operative in service to members since 1925. Membership is open to all in:
https://www.sgdi.gov.sg/statutory-boards
https://www.sgdi.gov.sg/ministries
https://www.sgdi.gov.sg/organs-of-state
https://www.sgdi.gov.sg/other-organisations
Ordinary Membership shall be open to individuals who:
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1)Have attained the age of 16 years
2)Singapore citizens or permanent residents in Singapore: and
meet the requirement for:
Ministries, Statutory Boards, Organs of State or any other institutions or entities as listed in the Singapore Government Directory;
Singapore Power Ltd and its subsidiaries;
If an Ordinary member retires from his employment, he shall remain as an Ordinary member of the Society unless his membership ceases under the By-laws. Associate Members
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Who can be an Associate Member? Associate Membership shall be open to individuals who:
1)Have attained the age of 16 years
2)Singapore citizens or permanent residents in Singapore: and
meet the requirement for:
3)membership shall be open to the spouse, child, adopted child, step-child, parent, step-parent, brother, step-brother, sister or step-sister of ordinary member.
