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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 (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:

Mr Tan Kian Chew (Chairman)
Chairman, Centre for Seniors

Mr Desmond Chin (Member)
Executive Director, Registry of Co-operative Societies

Mr Tng Ah Yiam (Member)
Chairman, Singapore National Co-operative Federation Limited

Mr Yoong Ee Chuan (Member)
Treasurer, Ngee Ann Polytechnic Consumer Co-operative Society Limited

Mr Yeo Chun Fing (Member)
Chairman, AUPE Credit Co-operative 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

It is established under the Act for co-operatives to 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 have to inform the Registrar in writing. The letter has to 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 2021 was $2.9 million and co-operative contributions to the SLF for the financial year ended 31 December 2020 was $61.5 million.

The following graphs illustrate the breakdown of the CCF Contributions and its expenditure for the financial year ended 31 March 2021 (FY2020) and its 3-year trend.

Breakdown for FY2020

Breakdown of contribution and expenditure of Central Co-operative Fund for FYE20

Contributions: $2.9 million; Expenditure: $3.0 million 

3-Year Trend - FY2018 to FY2020

3-year trend on contribution and expenditure of Central Co-operative Fund (FYE2018-2020)

Support for co-ops during COVID-19 period

To support co-ops during the challenging period of the COVID-19 pandemic, the Minister for Culture, Community and Youth approved a support package for co-ops in 2020 as follows:

  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-op

While the situation has improved in 2021, businesses have not resumed to normal and co-ops still face challenges amidst the uncertainties. Another waiver for the first tier CCF contribution of 5% is provided in 2021 (for any financial year ending between 31 December 2020 and 30 September 2021).

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.

Effective 1 October 2021, the CCF Grant Framework has been enhanced, following a joint review by the Singapore National Co-operative Federation (SNCF) as the CCF Secretariat, and the Registry of Co-operative Societies.

The CCF Grant Framework is made up of five components:

  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
  5. CCF New Co-operative Grant – to support initial set-up costs and operating expenses of new co-operatives

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

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 usages 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 provide bursaries and scholarships, implement outreach programs and strengthen the industry capability and standards. Some of these programmes run by Singapore National Co-operative Federation (SNCF) include:

  • Awareness building
    To raise public awareness of the co-operative movement and values in Singapore, SNCF organises roadshows and activities like the “Co-op Hotshot” (a regional photography competition).  
  • Campus & youth
    SNCF has been actively reaching out to schools to raise awareness of the co-operative movement amongst the youth. SNCF regularly organises scholarship fairs, guest lectures, learning journeys and camps for schools and youth groups. SNCF also works with schools to form Co-op Clubs to train students to operate social enterprises based on co-operative values.
  • Customised training courses 
    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). 
Last updated on 30 September 2021