Membership

Requirements to apply for membership:

• Membership of the Co-operative is open to all full-time permanent employees of SPH Media Trust Group and its subsidiary companies;
• Be 16 years of age or above;
• Be citizens of or residents in Singapore;
• Be of good character;
• Not already be a member of any other credit society whose primary object is to grant loans to its members;
• Not be undischarged bankrupt; and
• Not be convicted of an offence punishable with imprisonment.

 

Admission

• Application for membership shall be submitted on-line or in a form prescribed by the Committee.
• Admission to membership shall be subject to consideration and approval by the Committee of Management.

 

Mode of Payments

• All new members must pay a one-time non-refundable entrance fee of $10 /-.
• Every member can save minimum $10.00, and the maximum shall not exceed 25% of basic salary or $750/- whichever is lower per month. Application required to be submitted with recent salary slip, otherwise application will NOT be processed.
• All monthly payments due to the Co-operative by members shall be recoverable by deduction from the monthly salary through their respective employers who shall forward all sums deducted to the Co-operative or via monthly GIRO deduction through each individual member’s bank account.