SASCO celebrates its 80th anniversary

SASCO Chairman, Mr C V Nathan 
Board of Directors 
Donors and Volunteers 
Ladies and Gentlemen 

1. I am happy to be here this evening to celebrate the 80th anniversary of the Singapore Amalgamated Services Co-operative Organisation Ltd, or SASCO in short. 80 years is a significant milestone, and I congratulate SASCO for its many years of serving the community, and also its contributions to the local co-operative movement. 

Local co-op movement

2. Co-operatives or “co-ops” in short, play an important role in the community. They are formed when individuals come together to address common needs, and are built on the premise of self-help and mutual assistance. They operate based on co-op principles that co-ops around the world adhere to.

3. Our co-op movement has evolved to be one of the largest grassroots organisations. Today, we have 84 co-ops serving close to 1.41 million individuals in various sectors. They contribute to our nation's economic and social fabric by providing the average Singaporean with affordably priced goods and services to meet their different needs. 1 Figure obtained from the Annual Report on Co-operative Societies in Singapore for the Financial Year ended 31 March 2013. 

SASCO's story

4. With a burgeoning co-ops sector, SASCO was first formed in 1933 to serve as a co-ordinating body for 12 thrift and loan co-ops which were its institutional members. Subsequently in 1980, the Singapore National Co-operative Federation, or “SNCF” in short, was formed at the national level to serve as an apex organisation for all co-ops. At this point, SASCO changed its role to develop and run affordable community programmes, so as to make a difference in people's lives.

5. It is also heartening that SASCO is serving 2 critical areas of social needs -- childcare and eldercare, with a focus on the lower income and disadvantaged in our community. Besides the two childcare centres and three eldercare facilities, I understand that SASCO is set to expand the childcare services further and hopes to open another Centre by 2014. The SASCO Senior Citizens' Home will also be introducing the Singapore Programme for Integrated Care for Elderly (or “SPICE”) Programme at its new centre in Clementi.

6. SASCO has also taken a step further by offering bursary awards for lower income families as well as health screening for senior citizens living in Telok Blangah Rise, Hong Kah North and Keat Hong constituencies. I also understand that SASCO is expanding into different business ventures to meet other needs of the community, for example a minimart and tuition centre.

7. SASCO's efforts have helped to inculcate a sense of social cohesion and inter-ethnic goodwill which is a cornerstone of our multi-racial, multi-ethnic society. I'm happy to note their effort is very much in line with the Ministry of Culture, Community and Youth's vision of creating a more resilient and cohesive society.

Building capacity and capabilities within the co-op sector

8. Co-ops play an important role in a society and they should endeavour to increase their impact and contributions to the community. To do this, it is important that co-ops seek ways to build capacity and enhance competencies. This would include sending key officers for training to help equip them with the relevant skills and knowledge to better perform their duties. Co-ops can also improve their systems and processes to enable higher efficiency, so as to better serve the needs of their members or the community.

9. In this regard, the Central Co-operative Fund or “CCF” in short, offers grants to help co-ops improve themselves so that they can better fulfil their social missions. CCF grants are administered by SNCF, who is also Secretariat to the CCF Committee. I hope that co-ops will tap on such grants so that we can see a larger imprint of the good work co-ops do. 

Conclusion

10. Tonight, as we celebrate the achievements of SASCO, I commend SASCO's board members and staff, volunteers, donors and supporters for all your hard work and commitment in serving the community. I wish SASCO many more good years ahead.

11. Thank you.