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Central Co-operative Fund

 

Fund oversight

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 2018 and comprises the following individuals:

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

Dr Ang Hak Seng (Member)
Executive Director, Registry of Co-operative Societies

Mr Kwek Kok Kwong (Member)
Chairman, Singapore National Co-operative Federation;
CEO, NTUC LearningHub Co-operative Ltd

Mr Ma Wei Ceng (Member)
Advisor, Amalgamated Union of Public Employees (AUPE)

Mr Yoong Ee Chuan (Member)
Secretary, 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

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 2018 was $3.8 million and co-operative contributions to the SLF for the financial year ended 31 December 2017 was $83.9 million.

The following graphs illustrate the breakdown of the CCF Contributions and its expenditure for the financial year ended 31 March 2018 (FYE2017) and its 3-year trend.

Breakdown for FYE2017

cashflow breakdown for FYE2017

Contributions: $3.8million; Expenditure: $3.0million

*For FY2016, Projects was $250k and Grants to Co-ops was $222k.

 

3-Year Trend - FYE2015 to FYE2017

CCF 2018 update

What can the CCF be used for?

The CCF aims to further the education, training, research, audit and the general development of the co-operatives in Singapore through the following grants:

New Co-op Grant

  • Available to newly-registered co-operatives.
  • Helps defray initial set-up costs and operating expenses.

Capacity Development Grant

  • Available to existing co-operatives.
  • Enhance facilities and for the acquisition of information and communication technology.

CCF Development Grant

  • Available to existing co-operatives.
  • Helps defray certain expenses so as to enhance the co-operatives’ capabilities, governance and operational efficiency.
    • Education and Training
    • Manpower (Accountant)
    • Consultancy Services
    • Bookkeeping Services
    • Statutory Audit Fee
    • Marketing Expenses
    • Internal Audit Fee (only for credit co-operatives)
    • Minimum Competency Training (only for credit co-operatives)
    • Legal Services

For more information on the individual grants, please click here.

Applying for the CCF Grants

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: sncf@sncf.org.sg

Tel: 6602 0747

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

Other usages of the CCF

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 Club 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 02 March 2019