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Central Co-operative Fund

Fund oversight careers-list-arrow

The Central Co-operative Fund (“CCF”) is a fund set up under the Co-operative Societies Act (“the Act”). It is administered as a trust fund under the Minister for Culture, Community and Youth. 

The Minister for Culture, Community and Youth appoints the CCF Committee for the purpose of overseeing the CCF. The current Committee is serving a three-year term effective from 1 March 2021 and comprises the following individuals: 

Position in the Committee Name

Organisation

Chairman Mr Tan Kian Chew Director, PSC Corporation
Members Mr Desmond Chin Executive Director, Registry of Co-operative Societies

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

Mr Yeo Chun Fing
Chairman, AUPE Credit Co-operative Limited

Mr Yoong Ee Chuan
Treasurer, Ngee Ann Polytechnic Consumer Co-operative Society Limited
 
The Singapore National Co-operative Federation ("SNCF"), the co-operative industry body, is the appointed Secretariat to the CCF Committee.

Contributions to the CCF careers-list-arrow

Under the Act, co-operatives will make the following contributions:

Contribution tier Annual surplus

Contribution
percentage

Contributions to be made 
 1st Tier First $500,000  5% CCF
 2nd Tier Amount in excess of
$500,000
20% CCF or Singapore Labour Foundation (SLF)*
 

*Co-operatives opting to contribute to SLF must inform the Registrar in writing. The letter must be signed off by the co-operative’s Chairman, Secretary or Treasurer.

Co-operative contributions to the CCF for the financial year ended 31 March 2022 was $2.8 million and co-operative contributions to the SLF for the financial year ended 31 December 2021 was $43.6 million.

The following graphs illustrate the breakdown of the CCF Contributions and its expenditure for the financial year ended 31 March 2022 (FY2021) and its 3-year trend.

Breakdown for FY2021

 

3-Year Trend - FY2019 to FY2021

What can the CCF be used for? careers-list-arrow

The Central Co-operative Fund (CCF) can be used to further co-operative education, training, research, audit and for the general development of the co-operative movement in Singapore. The CCF supports the development and growth of our co-operatives through the provision of CCF grants.

Eligible co-operatives can apply and obtain grants under the CCF Grant Framework (“the Framework”). To ensure that the Framework can meet the evolving needs of co-operatives, the Singapore National Co-operative Federation (SNCF), as the CCF Secretariat, works closely with the Registry of Co-operative Societies to review grant policies from time to time.

Under the CCF Grant Framework, co-operatives can apply for the following grants (subject to applicable conditions):

  1. CCF Development Grant – to enhance co-operatives' capabilities, governance and operational efficiency;
  2. CCF Training Grant – to help co-operative officers gain knowledge and relevant skills;
  3. CCF Special Grants – to provide co-funding for specific schemes and projects;
  4. CCF Basic Support Grant – to assist co-operatives that are unable to meet standard grant eligibility criteria; and
  5. CCF New Co-operative Grant – to support the initial set-up costs and operating expenses of new co-operatives.

Find out more information on the individual grants under the CCF Grant Framework.

Support for co-operatives during COVID-19 period

To support co-operatives during the challenging period of the COVID-19 pandemic, the Minister for Culture, Community and Youth approved the following: 

Support package for co-operatives in 2021: 

  1. Waiver of first-tier CCF contribution of 5% (for any financial year ended between 31 December 2020 and 30 September 2021); and 
  2. Exemption of Job Support Scheme (“JSS”) and Cash Grant (“CG”) income (both made in connection with a COVID-19 event) from the definition of ‘surplus’ in computing co-operatives’ contributions.

Support package for co-operatives in 2020:

  1. Waiver of first-tier CCF contribution of 5% (for any financial year ended between 31 December 2019 and 30 September 2020); and 
  2. $2,000 grant (one-off) for each co-operative.  

Applying for the CCF Grants careers-list-arrow

Who can apply?

Co-operatives registered with the Registry of Co-operative Societies can apply for the CCF grants.

How to apply?

Click here to apply.

All applications for the CCF grants should be submitted to the CCF Secretariat. Approval of applications is subject to applicants meeting the requisite conditions and its submission of required documents.

Who to contact?

To find out more about the CCF grants, please contact the CCF Secretariat at:

Email: contactus@sncf.org.sg

Tel: 9820 5730

Address:
CCF Secretariat
Singapore National Co-operative Federation
510 Thomson Road
#12-02 SLF Building
Singapore 298135

Other uses of the CCF careers-list-arrow

In addition to the CCF grants which are available to all co-operatives, the CCF is also used to implement programmes to raise awareness of the co-operative movement and strengthen the capability of co-operative officers. The programmes run by Singapore National Co-operative Federation (SNCF) include:

  • Awareness Building
  • SNCF leverages on media and social media to educate, promote and share inspirational stories of the Singapore co-operative movement and our co-operatives, to a wider audience. Key target audiences include the general public as well as youths. SNCF has also been actively collaborating with co-operatives, youth groups and education institutions to reach out and to raise awareness among youths.
  • Capability Building
  • SNCF regularly organises customised training courses so that co-operative officers can perform their roles better. The courses include: (i) Induction Programme; (ii) Co-operative Legislation and Code of Governance; and (iii) Governance Guides on Internal Controls, Loan Management and Investment Management (for credit co-ops). SNCF also organises events like the Annual Co-operative Leaders’ Conference and Credit Sector Forum 2022, to promote continuous learning and facilitate networking among co-operatives. 
Last updated on 27 April 2022