Celebrating SGS Co-op’s 100th Anniversary

Mr John Raghavan, Chairman of the Singapore Government Staff

Credit Co-operative (SGS Co-op),

Mr Vernon Khoo, Chairman of Central Co-operative Fund

Committee (CCFC),

Mr Tng Ah Yiam, Chairman of Singapore National Co-operative

Federation (SNCF),

Distinguished co-op Leaders,

Members of the SGS Co-op,

Ladies and gentlemen,

Good evening.

• It is my pleasure to join you this evening for the remarkable milestone of 100 years.

Celebrating 100 years of SGS Co-op

• Tonight, we celebrate one hundred years of service by the SGS Co-op. It is a century of dedication to your social mission, service to your members, and unwavering commitment to the co-op movement.

• SGS Co-op was established in 1925 as the very first co-op in Singapore. Your founders understood the timeless axiom that when we come together, we can achieve more than any one of us can.

• Over the decades, you have helped families put food on the table, you supported children through their education, and you offered financial lifelines through the dark moments like the COVID pandemic.

• You touch lives, ease burdens, and you give hope for a better future.

Contributions

• From the early days of encouraging thrift and providing accessible credit to your members, you have expanded your services to address new and emerging issues.

• All this while staying true to your mission.

• Today, SGS Co-op has grown to more than 7,000 members and expanded its services to include bursaries, hospitalisation support and accident insurance.

• More recently, the launch of your mobile app also demonstrates your commitment to connecting with and attracting younger members.

• The new Debtor Education Programme you are launching will also help build financial resilience for members.

• It is testimony that you go way beyond providing a service to look after the wellbeing of members.

• And that SGS Co-op is a steady partner for its members as they journey through life's pivotal moments. Celebrating achievements, weathering challenges, and planning for a future together.

Co-op 10-year Transformation Roadmap

• At MCCY, we believe co-ops are a vital part of our social fabric. That is why MCCY, together with the Singapore National Co-operative Federation (SNCF), have worked with co-ops and the community to develop a 10-year Transformation Roadmap for the co-op sector.

  • The engagements involved over 1,200 stakeholders - co-op leaders, youths, union representatives, and the local community.

  • SGS Co-op was among the most valuable contributors, and I want to thank you for your invaluable views and support.

  • Together, these will ensure that co-ops remain relevant and will last for generations to come.

Looking Ahead & Encouragement

• Co-ops play a vital role in our communities, demonstrating how collective effort can create meaningful change, and they are a key part of the we-first society that we are seeking to build.

• Tonight, we celebrate a significant milestone, and I want to thank you for the work that you have done and that you continue to do.

• To the Management and Staff:

  • Thank you for your steadfast stewardship. Your dedication to the social mission makes sure we can continue to grow as one community and move forward together.

• To all members gathered in this room:

  • You are the heart and soul of this co-op. Your continued participation and trust are what makes this possible.

• Congratulations everybody once again, and happy 100th anniversary.