![Customs Credit Co-Operative Society [S] Ltd.](https://cccsl-coop.com/wp-content/uploads/2025/08/logo.jpg){kind=logo}
In April 1932, dedicated Customs personnel initiated a thrift society to encourage co-operation and self-help among staff. An inaugural meeting on 5 April with 100 members led to the Society’s official registration on 12 April as the Singapore Government Monopolies Co-operative Thrift & Loan Society Ltd.
The first Chairman, Mr. W. E. Pepys, together with colonial and clerical staff, formed the first management committee. The Society held its first AGM on 31 August 1933 and, in 1941, changed its name to the Customs Co-operative Thrift & Loan Society Ltd.
By 1954, membership reached 251 with an annual turnover of $250,000. However, in the late 1950s, the Society faced a downturn as management interest waned, leading to reduced membership.
In 1958, the Singapore Government Workers’ Union, led by Mr. Chia Siew Lian, took an active role in the Society’s revival. By 1960, membership had increased significantly to 560 members.
The new committee introduced sweeping changes, including raising the maximum loan to six times the monthly salary plus paid-up subscription, capped at $2,400, and launching new loan schemes to meet members’ needs.
Scholarship awards for members’ children were introduced in 1966, with about 12 awards given annually. From 1987, this number increased to 35 awards each year to encourage academic excellence.
The Common Good Fund was established to provide members with financial support, including hospitalisation grants, retirement benefits, and death relief.
Now holding total assets of $13.24 million, the Society continues its core mission of providing credit facilities, while also offering subsidised travel awards, family activities, bursaries, and other value-added services for its members.