{"id":228,"date":"2025-08-16T15:49:45","date_gmt":"2025-08-16T15:49:45","guid":{"rendered":"https:\/\/cccsl-coop.com\/?page_id=228"},"modified":"2026-05-05T08:07:43","modified_gmt":"2026-05-05T08:07:43","slug":"loans","status":"publish","type":"page","link":"https:\/\/cccsl-coop.com\/index.php\/loans\/","title":{"rendered":"Loans"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"228\" class=\"elementor elementor-228\" data-elementor-settings=\"{&quot;ha_cmc_init_switcher&quot;:&quot;no&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2bf1883 e-flex e-con-boxed wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no e-con e-parent\" data-id=\"2bf1883\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-74086a7 elementor-widget elementor-widget-eael-breadcrumbs\" data-id=\"74086a7\" data-element_type=\"widget\" data-widget_type=\"eael-breadcrumbs.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"eael-breadcrumbs\">\n\t\t\t<div class=\"eael-breadcrumbs__content\"><a href=\"https:\/\/cccsl-coop.com\">Home<\/a> <span class=\"eael-breadcrumb-separator\">\/<\/span> <span class = \"eael-current\">Page<\/span><\/div>\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4544283 elementor-widget elementor-widget-heading\" data-id=\"4544283\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Loans<\/h1>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-ee889cc e-flex e-con-boxed wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no elementor-invisible e-con e-parent\" data-id=\"ee889cc\" data-element_type=\"container\" data-settings=\"{&quot;animation&quot;:&quot;fadeInUp&quot;,&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-d6887aa e-con-full e-flex wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no e-con e-child\" data-id=\"d6887aa\" data-element_type=\"container\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a962e1e elementor-widget elementor-widget-html\" data-id=\"a962e1e\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t\t<div class=\"calculator\">\r\n    <h2>Loan Calculator<\/h2>\r\n    <div class=\"form-group\">\r\n      <label for=\"amount\">Loan Amount ($)<\/label>\r\n      <input type=\"number\" id=\"amount\" placeholder=\"Enter loan amount\">\r\n    <\/div>\r\n    <div class=\"form-group\">\r\n     <label for=\"interest\">Interest Rate (%)<\/label>\r\n      <select id=\"interest\">\r\n        <option value=\"3\">3%<\/option>\r\n        <option value=\"5\">5%<\/option>\r\n          <option value=\"6\">6%<\/option>\r\n      <\/select>\r\n    <\/div>\r\n    <div class=\"form-group\">\r\n      <label for=\"period\">Loan Period (Months)<\/label>\r\n      <select id=\"period\">\r\n           <option value=\"12\">12 Months<\/option>\r\n        <option value=\"24\">24 Months<\/option>\r\n        <option value=\"36\">36 Months<\/option>\r\n        <option value=\"48\">48 Months<\/option>\r\n      <\/select>\r\n    <\/div>\r\n    <button class=\"btn\" onclick=\"calculateLoan()\">Calculate<\/button>\r\n    <div id=\"result\" class=\"result\"><\/div>\r\n  <\/div>\r\n  \r\n  <script>\r\n   function calculateLoan() {\r\n      let amount = parseFloat(document.getElementById('amount').value);\r\n      let interestRate = parseFloat(document.getElementById('interest').value);\r\n      let period = parseInt(document.getElementById('period').value);\r\n\r\n      if (isNaN(amount) || isNaN(interestRate) || isNaN(period)) {\r\n        document.getElementById('result').innerHTML = \"\u26a0\ufe0f Please fill in all fields.\";\r\n        return;\r\n      }\r\n      \r\n      if (amount > 30000) {\r\n  document.getElementById('result').innerHTML = \"\u26a0\ufe0f Maximum loan amount is $30,000.\";\r\n  return;\r\n}\r\n\r\n      \/\/ Principal per month\r\n      let principalPerMonth = amount \/ period;\r\n\r\n      \/\/ Interest per month (always based on 12 months)\r\n      let interestPerMonth = (amount * (interestRate \/ 100)) \/ 12;\r\n\r\n      \/\/ Total repayment per month\r\n      let totalPerMonth = principalPerMonth + interestPerMonth;\r\n\r\n      document.getElementById('result').innerHTML = `\r\n        <strong>Results:<\/strong><br>\r\n        Principal per month: $${principalPerMonth.toFixed(2)} <br>\r\n        Interest per month: $${interestPerMonth.toFixed(2)} <br>\r\n        <span style=\"font-weight:bold;color:#0077ff;\">Total Repayment per month: $${totalPerMonth.toFixed(2)}<\/span>\r\n      `;\r\n    }\r\n  <\/script>\r\n  \r\n    <style>\r\n  \r\n\r\n    .calculator {\r\n      background: #fff;\r\n      padding: 25px;\r\n      border-radius: 15px;\r\n      box-shadow: 0 5px 20px rgba(0,0,0,0.1);\r\n      max-width: 400px;\r\n      width: 100%;\r\n    }\r\n\r\n    .calculator h2 {\r\n      text-align: center;\r\n      margin-bottom: 20px;\r\n      font-size: 1.4rem;\r\n      color: #333;\r\n    }\r\n\r\n    .form-group {\r\n      margin-bottom: 15px;\r\n    }\r\n\r\n    .form-group label {\r\n      display: block;\r\n      font-weight: bold;\r\n      margin-bottom: 5px;\r\n      color: #444;\r\n    }\r\n\r\n    .form-group input, .form-group select {\r\n      width: 100%;\r\n      padding: 10px;\r\n      border-radius: 8px;\r\n      border: 1px solid #ddd;\r\n      font-size: 1rem;\r\n      transition: border 0.2s;\r\n    }\r\n\r\n    .form-group input:focus, .form-group select:focus {\r\n      border-color: #0077ff;\r\n      outline: none;\r\n    }\r\n\r\n    .btn {\r\n      width: 100%;\r\n      background: #4EAD64;\r\n      color: white;\r\n      padding: 12px;\r\n      border: none;\r\n      border-radius: 10px;\r\n      font-size: 1rem;\r\n      font-weight: bold;\r\n      cursor: pointer;\r\n      transition: background 0.3s;\r\n    }\r\n\r\n    .btn:hover {\r\n      background: #1E2947;\r\n    }\r\n\r\n    .result {\r\n      margin-top: 20px;\r\n      background:#DEE6F9;\r\n      padding: 15px;\r\n      border-radius: 10px;\r\n      font-size: 1.1rem;\r\n      line-height: 1.5;\r\n      text-align: center;\r\n      color: #222;\r\n    }\r\n  <\/style>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-1b8a0ba e-con-full e-flex wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no e-con e-child\" data-id=\"1b8a0ba\" data-element_type=\"container\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-434e969 elementor-widget elementor-widget-text-editor\" data-id=\"434e969\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>All loans granted shall not exceed $30,000 combined amount of item 3 to 5<br \/>and 50% of his salary deduction from his employer or GIRO deduction through his bank account.<\/p><p>The Co-operative may charge the borrower expenses associated with the granting of<br \/>loans, such as making searches on creditworthiness of the borrower and sureties, and<br \/>other fees, including accrued interest, legal fees, charges etc, as required.<\/p><p>The Co-operative have the right to recall any loan granted from the borrower or his sureties either as misrepresentation at material time of application or<br \/>defaulted for more than 2 consecutive months.<\/p><p>The Co-operative may impose a late payment fee of $20.00 per month or other amount<br \/>necessary to recover the loan repayment defaulted on the month due.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-9fc2eb3 e-flex e-con-boxed wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no elementor-invisible e-con e-parent\" data-id=\"9fc2eb3\" data-element_type=\"container\" data-settings=\"{&quot;animation&quot;:&quot;fadeInUp&quot;,&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-ef35b5c e-con-full e-flex wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no e-con e-child\" data-id=\"ef35b5c\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a2c3789 elementor-view-default elementor-position-top elementor-mobile-position-top elementor-widget elementor-widget-icon-box\" data-id=\"a2c3789\" data-element_type=\"widget\" data-widget_type=\"icon-box.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-box-wrapper\">\n\n\t\t\t\t\t\t<div class=\"elementor-icon-box-icon\">\n\t\t\t\t<span  class=\"elementor-icon\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"icon icon-loan\"><\/i>\t\t\t\t<\/span>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t<div class=\"elementor-icon-box-content\">\n\n\t\t\t\t\t\t\t\t\t<h3 class=\"elementor-icon-box-title\">\n\t\t\t\t\t\t<span  >\n\t\t\t\t\t\t\t100% Secured Loan\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<p class=\"elementor-icon-box-description\">\n\t\t\t\t\t\tMember or borrower can apply for loan up to his total thrift savings with the co-operative . The\ninterest rate shall be 5% per annum and no admin fee is charged.\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-aba0752 elementor-align-center elementor-widget elementor-widget-button\" data-id=\"aba0752\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/cccsl-coop.com\/wp-content\/uploads\/2026\/02\/Secured_Loan_Application_Form_Revised-20-Jan-2026.pdf\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-icon\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"icon icon-download1\"><\/i>\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Download Application Form<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-17becc5 e-con-full e-flex wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no e-con e-child\" data-id=\"17becc5\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d92771a elementor-view-default elementor-position-top elementor-mobile-position-top elementor-widget elementor-widget-icon-box\" data-id=\"d92771a\" data-element_type=\"widget\" data-widget_type=\"icon-box.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-box-wrapper\">\n\n\t\t\t\t\t\t<div class=\"elementor-icon-box-icon\">\n\t\t\t\t<span  class=\"elementor-icon\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"huge huge-search-dollar\"><\/i>\t\t\t\t<\/span>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t<div class=\"elementor-icon-box-content\">\n\n\t\t\t\t\t\t\t\t\t<h3 class=\"elementor-icon-box-title\">\n\t\t\t\t\t\t<span  >\n\t\t\t\t\t\t\tExpress Loan\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<p class=\"elementor-icon-box-description\">\n\t\t\t\t\t\tMember or borrower can apply for express loan up to $5,000 for payment of remittance, festive\nneed or any other urgent financial help. The interest rate shall be 6% per annum subject to loan\nrepayment period within 12 months.\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7e74c90 elementor-align-center elementor-widget elementor-widget-button\" data-id=\"7e74c90\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/cccsl-coop.com\/wp-content\/uploads\/2026\/01\/EXPRESS-LOAN-APPLICATION-FORM.pdf\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-icon\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"icon icon-download1\"><\/i>\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Download Application Form<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-e1e5a3d e-con-full e-flex wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no e-con e-child\" data-id=\"e1e5a3d\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a2cd3cd elementor-view-default elementor-position-top elementor-mobile-position-top elementor-widget elementor-widget-icon-box\" data-id=\"a2cd3cd\" data-element_type=\"widget\" data-widget_type=\"icon-box.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-box-wrapper\">\n\n\t\t\t\t\t\t<div class=\"elementor-icon-box-icon\">\n\t\t\t\t<span  class=\"elementor-icon\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"hm hm-dollar-on-hand\"><\/i>\t\t\t\t<\/span>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t<div class=\"elementor-icon-box-content\">\n\n\t\t\t\t\t\t\t\t\t<h3 class=\"elementor-icon-box-title\">\n\t\t\t\t\t\t<span  >\n\t\t\t\t\t\t\tUnsecured Special Loans\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<p class=\"elementor-icon-box-description\">\n\t\t\t\t\t\tMember or borrower can apply for special loan up to $30,000 for the purpose of any financial\nassistance, study loan, medical expenses or bad debts The interest rate shall be 6% per annum\nsubject to furnishing of one surety as guarantor plus administrative fee of 3% and loan\nrepayment period between 12 and 60 months as the case may be.\nIn order to apply for the loan, the member must qualify to be a member for at least 1 year and\nshould have specified sum in his or her thrift savings.\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b12bfef elementor-align-center elementor-widget elementor-widget-button\" data-id=\"b12bfef\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/cccsl-coop.com\/wp-content\/uploads\/2026\/05\/Unsecured-Loan-No-Surety-Revised-04052026.pdf\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-icon\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"icon icon-download1\"><\/i>\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Download Application Form<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-e979ba1 e-flex e-con-boxed wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no elementor-invisible e-con e-parent\" data-id=\"e979ba1\" data-element_type=\"container\" data-settings=\"{&quot;animation&quot;:&quot;fadeInUp&quot;,&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-75f367e wpr-feature-list-left wpr-feature-list-square elementor-widget elementor-widget-wpr-feature-list\" data-id=\"75f367e\" data-element_type=\"widget\" data-widget_type=\"wpr-feature-list.default\">\n\t\t\t\t\t<div class=\"wpr-feature-list-wrap\"><ul class=\"wpr-feature-list\"><li class=\"wpr-feature-list-item elementor-repeater-item-00280da\"><div class=\"wpr-feature-list-icon-wrap\"><span class=\"wpr-feature-list-line\"><\/span><div class=\"wpr-feature-list-icon-inner-wrap\"><i aria-hidden=\"true\" class=\"huge huge-tick-double-04\"><\/i><\/div><\/div><div class=\"wpr-feature-list-content-wrap\"><h2 class=\"wpr-feature-list-title\"><a class=\"wpr-feature-list-url\" target=\"_blank\" rel=\"nofollow\">GENERAL INFORMATION ON LOAN APPLICATION<\/a><\/h2><p class=\"wpr-feature-list-description\">All borrowers or sureties are to be Singaporean and free from any loan from other co-operative societies.\n<br><br>\n\nA non- Citizen including PR (Malaysian) can apply for loans within their own savings or loans not exceeding $15,000 provided they secure the co-operative with 2 guarantors as security\n[Singapore citizens].\n<br><br>\nThe non-citizen shall furnish NRIC or work permit\/employment pass and also furnish a valid\naddress in Singapore and overseas.<\/p><\/div><\/li><li class=\"wpr-feature-list-item elementor-repeater-item-67d9ef5\"><div class=\"wpr-feature-list-icon-wrap\"><span class=\"wpr-feature-list-line\"><\/span><div class=\"wpr-feature-list-icon-inner-wrap\"><i aria-hidden=\"true\" class=\"huge huge-user-star-01\"><\/i><\/div><\/div><div class=\"wpr-feature-list-content-wrap\"><h2 class=\"wpr-feature-list-title\"><a class=\"wpr-feature-list-url\" target=\"_blank\" rel=\"nofollow\">DEFINITION OF MEMBER<\/a><\/h2><p class=\"wpr-feature-list-description\">Ordinary members who shall be employees of Singapore Customs. The Board may, in its sole\ndiscretion, allow retirees of Singapore Customs or officers transferred to other departments to\ncontinue as Ordinary members or as Associate members.<\/p><\/div><\/li><li class=\"wpr-feature-list-item elementor-repeater-item-13a8437\"><div class=\"wpr-feature-list-icon-wrap\"><span class=\"wpr-feature-list-line\"><\/span><div class=\"wpr-feature-list-icon-inner-wrap\"><i aria-hidden=\"true\" class=\"huge huge-user-settings-01\"><\/i><\/div><\/div><div class=\"wpr-feature-list-content-wrap\"><h2 class=\"wpr-feature-list-title\"><a class=\"wpr-feature-list-url\" target=\"_blank\" rel=\"nofollow\">DEFINITION OF ASSOCIATE MEMBER<\/a><\/h2><p class=\"wpr-feature-list-description\">Associate Members, who shall be members\u2019 spouse and children above 16 years of age; or\nretirees of Singapore Customs or officers of Singapore Customs transferred to other department\nas approved by the Board of Directors from time to time, subject to payment of such fees as the Board may decide upon provided that such members shall have no voting rights but shall be\nentitled to participate in such savings schemes and loan schemes as the Society may introduce\nfrom time to time.\u201d\n<\/p><\/div><\/li><li class=\"wpr-feature-list-item elementor-repeater-item-47cbdbb\"><div class=\"wpr-feature-list-icon-wrap\"><span class=\"wpr-feature-list-line\"><\/span><div class=\"wpr-feature-list-icon-inner-wrap\"><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-child\" viewBox=\"0 0 384 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M120 72c0-39.765 32.235-72 72-72s72 32.235 72 72c0 39.764-32.235 72-72 72s-72-32.236-72-72zm254.627 1.373c-12.496-12.497-32.758-12.497-45.254 0L242.745 160H141.254L54.627 73.373c-12.496-12.497-32.758-12.497-45.254 0-12.497 12.497-12.497 32.758 0 45.255L104 213.254V480c0 17.673 14.327 32 32 32h16c17.673 0 32-14.327 32-32V368h16v112c0 17.673 14.327 32 32 32h16c17.673 0 32-14.327 32-32V213.254l94.627-94.627c12.497-12.497 12.497-32.757 0-45.254z\"><\/path><\/svg><\/div><\/div><div class=\"wpr-feature-list-content-wrap\"><h2 class=\"wpr-feature-list-title\"><a class=\"wpr-feature-list-url\" target=\"_blank\" rel=\"nofollow\">REMAINING AS ASSOCIATE MEMBER AFTER RETIREMENT<\/a><\/h2><p class=\"wpr-feature-list-description\">A member retaining his membership after retirement shall make arrangements himself for the\nprompt payment of all his dues to the co-operative.\n<\/p><\/div><\/li><\/ul><\/div>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-63d315f e-flex e-con-boxed wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no elementor-invisible e-con e-parent\" data-id=\"63d315f\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;animation&quot;:&quot;fadeInUp&quot;,&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a115c53 ha-has-bg-overlay elementor-widget elementor-widget-text-editor\" data-id=\"a115c53\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3><strong>Loan Requirement<\/strong><\/h3>\n<ul>\n \t<li>The society shall introduce such loan schemes as the Board may determine from time to time.<\/li>\n<\/ul>\n<ul>\n \t<li>A Member (\u2018the applicant\u2019) must be a Member of the Society for at least 6 months. An exception may be allowed for a shorter period if there are good reasons acceptable to the Credit Committee.<\/li>\n<\/ul>\n<ul>\n \t<li>An applicant shall submit his loan application on the Society\u2019s prescribed form together with a Photostat copy of his NRIC; payslip and any other documents as called upon by the Credit Committee.<\/li>\n<\/ul>\n<ul>\n \t<li>The surety should preferably be a member or civil servant or any other person who is gainfully employed.<\/li>\n<\/ul>\n<ul>\n \t<li>A Non-Refundable administration fee of 3% is chargeable for an approved loan. This will be deducted upfront from the approved loan. Any variation to the administration fee shall be subject to the prior approval of the Board of Directors.<\/li>\n<\/ul>\n<ul>\n \t<li>The first month\u2019s instalment of the approved loan may be deducted upfront from the approved loan as processing of a GIRO application may on the average, take about a month for the applicant \u2018s bank to approve. Such deduction is to be decided by the Credit Committee.<\/li>\n<\/ul>\n<ul>\n \t<li>A member may be allowed to withdraw his subscription (thrift savings) less $2,000 to offset full settlement of his outstanding loan with the Society subject to payment of 20% levy on the interest payable on the remaining loan balance<\/li>\n<\/ul>\n<ul>\n \t<li>Any borrower who has defaulted for more than 2 months is liable to have his loan recalled and his thrift savings and general savings off settled against the Outstanding loan.<\/li>\n<\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Home \/ Page Loans Loan Calculator Loan Amount ($) Interest Rate (%) 3%5%6% Loan Period (Months) 12 Months24 Months36 Months48 Months Calculate All loans granted shall not exceed $30,000 combined amount of item 3 to 5and 50% of his salary deduction from his employer or GIRO deduction through his bank account. The Co-operative may charge the borrower expenses associated with the granting ofloans, such as making searches on creditworthiness of the borrower and sureties, andother fees, including accrued interest, legal fees, charges etc, as required. The Co-operative have the right to recall any loan granted from the borrower or his sureties either as misrepresentation at material time of application ordefaulted for more than 2 consecutive months. The Co-operative may impose a late payment fee of $20.00 per month or other amountnecessary to recover the loan repayment defaulted on the month due. 100% Secured Loan Member or borrower can apply for loan up to his total thrift savings with the co-operative . The interest rate shall be 5% per annum and no admin fee is charged. Download Application Form Express Loan Member or borrower can apply for express loan up to $5,000 for payment of remittance, festive need or any other urgent financial help. The interest rate shall be 6% per annum subject to loan repayment period within 12 months. Download Application Form Unsecured Special Loans Member or borrower can apply for special loan up to $30,000 for the purpose of any financial assistance, study loan, medical expenses or bad debts The interest rate shall be 6% per annum subject to furnishing of one surety as guarantor plus administrative fee of 3% and loan repayment period between 12 and 60 months as the case may be. In order to apply for the loan, the member must qualify to be a member for at least 1 year and should have specified sum in his or her thrift savings. Download Application Form GENERAL INFORMATION ON LOAN APPLICATION All borrowers or sureties are to be Singaporean and free from any loan from other co-operative societies. A non- Citizen including PR (Malaysian) can apply for loans within their own savings or loans not exceeding $15,000 provided they secure the co-operative with 2 guarantors as security [Singapore citizens]. The non-citizen shall furnish NRIC or work permit\/employment pass and also furnish a valid address in Singapore and overseas. DEFINITION OF MEMBER Ordinary members who shall be employees of Singapore Customs. The Board may, in its sole discretion, allow retirees of Singapore Customs or officers transferred to other departments to continue as Ordinary members or as Associate members. DEFINITION OF ASSOCIATE MEMBER Associate Members, who shall be members\u2019 spouse and children above 16 years of age; or retirees of Singapore Customs or officers of Singapore Customs transferred to other department as approved by the Board of Directors from time to time, subject to payment of such fees as the Board may decide upon provided that such members shall have no voting rights but shall be entitled to participate in such savings schemes and loan schemes as the Society may introduce from time to time.\u201d REMAINING AS ASSOCIATE MEMBER AFTER RETIREMENT A member retaining his membership after retirement shall make arrangements himself for the prompt payment of all his dues to the co-operative. Loan Requirement The society shall introduce such loan schemes as the Board may determine from time to time. A Member (\u2018the applicant\u2019) must be a Member of the Society for at least 6 months. An exception may be allowed for a shorter period if there are good reasons acceptable to the Credit Committee. An applicant shall submit his loan application on the Society\u2019s prescribed form together with a Photostat copy of his NRIC; payslip and any other documents as called upon by the Credit Committee. The surety should preferably be a member or civil servant or any other person who is gainfully employed. A Non-Refundable administration fee of 3% is chargeable for an approved loan. This will be deducted upfront from the approved loan. Any variation to the administration fee shall be subject to the prior approval of the Board of Directors. The first month\u2019s instalment of the approved loan may be deducted upfront from the approved loan as processing of a GIRO application may on the average, take about a month for the applicant \u2018s bank to approve. Such deduction is to be decided by the Credit Committee. A member may be allowed to withdraw his subscription (thrift savings) less $2,000 to offset full settlement of his outstanding loan with the Society subject to payment of 20% levy on the interest payable on the remaining loan balance Any borrower who has defaulted for more than 2 months is liable to have his loan recalled and his thrift savings and general savings off settled against the Outstanding loan.<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"footnotes":""},"class_list":["post-228","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/cccsl-coop.com\/index.php\/wp-json\/wp\/v2\/pages\/228","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cccsl-coop.com\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/cccsl-coop.com\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/cccsl-coop.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cccsl-coop.com\/index.php\/wp-json\/wp\/v2\/comments?post=228"}],"version-history":[{"count":64,"href":"https:\/\/cccsl-coop.com\/index.php\/wp-json\/wp\/v2\/pages\/228\/revisions"}],"predecessor-version":[{"id":1181,"href":"https:\/\/cccsl-coop.com\/index.php\/wp-json\/wp\/v2\/pages\/228\/revisions\/1181"}],"wp:attachment":[{"href":"https:\/\/cccsl-coop.com\/index.php\/wp-json\/wp\/v2\/media?parent=228"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}