Embark on a journey back to 1925, when the seeds of financial liberation and responsible saving were sown. The concept of a Thrift and Loan Co-op emerged as a beacon of hope, liberating wage earners from the clutches of exploitative moneylenders who imposed exorbitant interest rates. In those times, the vulnerable were burdened with heavy indebtedness due to these unfair practices. It was then that the revolutionary idea of the thrift and loan type of co-operation was introduced in Singapore.
This early cooperative movement was a direct response to the urgent need to combat widespread usury and to offer a lifeline to those struggling with financial distress. Through the establishment of Thrift and Loan Co-ops, the foundations were laid for a community-focused solution that not only freed individuals from their monetary struggles but also instilled the invaluable habit of thrift.
As time evolved, so did the impact of these co-ops, transforming them into a beacon of financial empowerment and resilience. Today, this legacy lives on as we invite you to become a part of this historical narrative by joining SSBEC Thrift and Loan Co-op. Open to all Singaporeans and SPRs, as well as their immediate family members as specified in the by-laws, our co-op continues to honor the principles of its inception while evolving to meet the dynamic financial needs of our community. Join us in embracing this heritage and securing your financial future.
SSBEC T&L Society Ltd
With a steadfast commitment that dates back to 1925, the Singapore Statutory Boards Employees’ Co-operative Thrift and Loan Society has been a beacon of financial liberation for generations. At its core, the co-operative was established to address the pressing issue of widespread usury and the heavy burden of indebtedness that plagued many. Rooted in this noble mission, the co-operative continues to actively combat these challenges with resolute determination.
At the heart of our success lies the collaboration between our dedicated Committee members and our valued co-operative members. This partnership has been the driving force behind our growth in membership, allowing us to expand our impact and uphold our mission. We are committed to ensuring that the needs of each member are met comprehensively, fostering a sense of belonging that extends beyond financial transactions.
As we journey forward, we invite you to be part of our enduring legacy. By joining the Singapore Statutory Boards Employees’ Co-operative Thrift and Loan Society, you not only contribute to our rich history but also secure your financial future within a community that cares. Our co-operative is more than an institution – it’s a home where your well-being and aspirations find a trusted ally.