Celebrating Co-operative Movement Night 2024 with “A Toast to Our Leaders”

Mr Tng Ah Yiam, Chairman of the Singapore National Co-operative Federation,
Mr Ang Hin Kee, CEO of the Singapore National Co-operative Federation,
CCF Committee Members,
Co-operative Leaders,
Ladies and Gentlemen,

1. Good evening, everyone. It is really good to be back here at this year's Co-operative Movement Night again,

2. We are not here to welcome new leaders in the Emerging Leaders Programme, but also honour those that have come before us and those that we can learn a lot from.

3. My mom used to tell me, “活到老学到老“, which means, to learn for as long as you live, and I think it is very good adage that all of us can learn from.

4. So, the question is, are co-ops relevant? This question has been asked time and again. I know, and I think all of you know the answer is a resounding yes. Why?

5. Because co-ops remain an important pillar in our society. They helped to strengthen our nation's social fabric, before the government private sector came into play. Co-ops were there when schemes such as Medishield Life, Careshield Life, Medisave, Eldershield were not around yet. Co-ops were there from the beginning and soon we're celebrating 100 years. They helped to strengthen our nation's fabric when our nation was still a nascent nation and serve the underserved. When people needed assistance, access to finance or credit, co-ops were there for them. They were relevant then and they remain relevant now.

6. So please allow me to highlight three co-ops tonight, out of the many that have remained relevant throughout the years. The first is a Good Space. I am sure you have a strong team, because you empower members to collaborate and drive social change with under-served communities by creating learning experiences to connect them with people and issues on the ground, such as through organising lessons to learn sign language. These sessions on an ongoing weekly basis. So well done, A Good Space.

7. The second is Silver Horizon Travel Co-op, which encourages active living and building friendships through customised travel programmes for our seniors. I understand that you recently organised two tours to Sri Lanka. You left on 5 th August and just came back on Wednesday. I think this is just another example where a co-op can be very relevant and to serve communities which are here.

8. Amalgamated Union of Public Employees (AUPE) Credit Co-op is another excellent example. Sanjeev Tiwari is no stranger to us. AUPE established this co-op about 65 years ago to support public officers’ financial needs through loans and savings like many different credit co-ops. Today, AUPE Credit Co-op has evolved, now educating members about financial stability and extending your services beyond public officers. You've expanded your scope to all NTUC union members, helping a few thousand members annually. Your co-op equips members with the skills needed for long term planning and savings, which is very important upstream. When there are emergencies, the co-op can  extend loans and credits to them, and provide help when they need to get out of debt or resolve a family emergency. 

9. This shows how relevant co-ops are, till today, and they and can fulfill their social mission because they have good leaders.

10. And to remain relevant, we need good leadership. At the Singapore Co-operative forum in May, NTUC Trustee, Mr Lim Swee Say, reminded us that the success or failure of a co-op, depends on how its develops and renews its leadership. Then he shared with us how while he was at NTUC, he instituted the. Flow-In, Flow-Up, Flow-On leadership succession model. He has a way with words that's quite incredible, and he did that model with NTUC for its central committee leaders to step down at the age of 62 to allow for new blood to come in.

11. In fact, this Sunday, Prime Minister Lawrence Wong, will deliver his maiden National Day Rally, after taking over from Mr Lee Hsien Loong in May. I think that principle applies too and I have no doubt that PM Wong is working very, very hard on his speech. I'm very sure the SM Lee is also feeling more relaxed this time. But leadership transitions and transfers are not always smooth. Just look at recent developments around us. These are not something that we can take for granted. So, what must good leaders do? Good leaders must know how to pass on the knowledge, pass on the experience and eventually pass on the baton to those who come after them.

12. So tonight, we celebrate leaders like this by honouring the achievements and dedication of 48 co-op leaders nominated by members of our Singapore Co-operative Movement. Their dedication to serve, steadfastness and the leadership, have been instrumental in shaping the trajectory of how our co-operative sector has become over the past 99 years. So, please join me in the round of applause for these leaders whose contributions and sacrifice have helped our co-ops remain relevant to community for close to 100 years.

13. If you work with very good leaders, or if you have become a leader yourself, you will know that the best leaders are always on the lookout to identify and groom leaders, to bring out the best in them. And we are all encouraged to see emerging co-op leaders learning the ropes from our seasoned leaders, those who come before them, and stepping up to take on key positions.

14. Some of these leaders have participated in SNCF's Emerging Leaders Programme (ELP). This Emerging Leaders Programme is funded by the CCF and these leaders will ensure that your co-ops stay true to their social mission and to have the best interests of members at heart.

15. Last year, I had the opportunity to meet some ELP participants. Later onstage, we will introduce the second batch of graduates from this year's ELP, bringing the total number of emerging leaders to 22. We also have the third run of ELP, and I look forward to. more leaders.

16. So, I've spoken about how co-ops must stay relevant, and develop leaders. But the question now is, What is government's role in supporting cause? What must government do? And what should government continue to do? Last week in Parliament, I reinforced how government appreciates and values the role of co-ops in Singapore and how we will continue as government to support our co-operative movement. Let me reiterate some of those points tonight.

17. First, in April earlier this year, I took Parliament through the amendment of the Co-operative Societies Act. The amendment of this Act is to better support co-operatives' development and operations but also to allow co-ops to use their reserves to pay dividends to members. I thank all these co-ops who provided their feedback to us during the public consultation process as we tweaked the Act. .

18. Second, MCCY works closely with SNCF to provide resources and training for co-ops. The RCS (Registry of Co-operative Societies) and SNCF jointly organised a customised Audit Committee course for credit co-ops just in May, just a couple of months ago.

19. And third, CCF, with our new committee, has provided various grants to support co-ops' operations and development. And we will do more to support the co-ops - in governance, sustainability, and to help support vulnerable communities within your area of resource.

20. Firstly, RCS, in partnership with SNCF, will roll out more governance initiatives for all of you, to help our co-ops navigate the changing business environment and members' needs while upholding high standards of governance. We will develop an induction guide for key officers, so that co-ops can eventually adapt these principles and guides for your own use. RCS will also work with SNCF to update the Code of Governance. This Code of Governance was last updated in 2016, and we will explore developing an online learning portal for our co- operators as well.

21. On sustainability, we launched the CCF Sustainability Grant at this very event last year. I'm pleased to announce and to report that the response has been encouraging. In fact, 19 co-ops, have used the grant to start a sustainability journey. So, if you haven't already, please sign up for sustainability trainings by Singapore University of Social Sciences (SUSS). It will be held in September and November. SNCF, also will be arranging a sustainability-themed learning journey, specially created for co-ops.

22. Finally, I'm pleased to announce that with support from the CCF committee and the government, RCS and SNCF will set up a $1 million Empowering Communities Fund to fund meaningful projects by co-ops that will benefit vulnerable communities. So, what can you use this fund for? You can use this fund to organise projects like basic health screening in your communities and void deck, or even refresh recreational spaces to make it more accessible for individuals with mobility challenges.

23. We will officially launch this Empowering Communities Fund in 2025 because 2025 is a year of triple celebration. Do you know why it's special in 2025? We will celebrate the centennial anniversary of the Singapore Co-operative Movement, our nation's 60th birthday and United Nations has designated 2025 as the International Year of Co- operatives. We will launch the Emerging Communities Fund then. As I close, I want to reiterate how important and relevant co-ops are, how good leaders will continue to grow thriving and impactful co-ops, and how Government will continue to support our co-operative movement.

24. But the most important members of the Co-operative movements are all of you, our people. Every single one of you play a part to make the 100th year of co-ops as impactful and as meaningful as the first year. A round of applause for every single one of you. Thank you very much.