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MembershipSavings SchemesLoan SchemesOthers
Membership, Savings Schemes, Loan Schemes, Others
Over the years, we have put together quite a list of questions that the general public and co-op members have asked us. We hope this will help improve your experience here, and allow you to find answers the queries you have surrounding our services.
Frequently Asked Questions
Ordinary Membership
Ordinary membership of the Society shall be open to employees under:
a) Ministry of Home Affairs and its departments and statutory boards;
b) AETOS and its groups of companies;
c) Attorney-General’s Chambers;
d) Certis CISCO and its group of companies;
e) Corrupt Practices Investigation Bureau; and
f) subsidiaries and associate companies of the Society which have the Society’s representative on the Board of Directors.
Associate Membership
Associate membership shall include the following:
a) officers from the Voluntary Special Constabulary (VSC);
b) former Ordinary Members who have been admitted as Associate
Members (Affiliate);
c) teachers associated with National Police Cadet Corps, members and
former members of National Police Cadet Corps.
Every person applying for membership shall:
i) be 16 years of age or above;
ii) be a citizen of Singapore or resident in Singapore;
iii) not be an undischarged bankrupt; and
iv) not be convicted of an offence punishable with imprisonment.
These documents are required for the application of membership.
Ordinary Membership
i) copy of NRIC (front & back);
ii) copy of latest payslip;
iii) copy of bank book / statement;
iv) ORIGINAL Membership Application Form (Ordinary Member); &
v) ORINGAL Individual Tax Residency Self-Certification Form.
Associate Membership
i) copy of NRIC (front & back);
ii) copy of latest payslip (optional);
iii) copy of bank book / statement;
iv) ORIGINAL Membership Application Form (Associate Member);
v) ORIGINAL Individual Tax Residency Self-Certification Form; &
vi) ORIGINAL Interbank GIRO Application Form.
The following dues shall become payable upon taking the membership:
i) entrance fee of $10 (excluding prevailing GST) for Ordinary Member;
ii) entrance fee of $20 (excluding prevailing GST) for Associate Member; and
iii) payment for at least 150 shares (@ $1.00/share).
If an Ordinary Member resigns or retires from his employment, he may apply to continue his membership with the Society as an Associate Member.
Members may email to enquiry@policecoop.org.sg their intention to resign, indicating full name, last 4 characters of NRIC as well as contact number and our Membership team will contact you as soon as we can.
Members of the Society may enjoy these saving schemes:
i) Subscription (compulsory);
ii) Share Capital (compulsory, one time deduction of $150)
iii) Specific Deposit (voluntary);
iv) Fixed Deposit (voluntary); &
v) Subscription-To-Savings-Scheme (STSS, by-invitation only).
Information on the various saving schemes may be obtained from Savings Schemes
a) Subscription and Share Capital Saving
Share Capital : 150 share capital @ $1/share (once only deduction of $150)
Subscription saving : Minimum = $40 & Maximum = $500
b) Specific Deposit Saving
Specific Deposit saving : Minimum = $10 & Maximum = $2500
c) Fixed Deposit
Fixed Deposit saving : Minimum = $500 & Maximum = no limit
d) STSS
An exclusive and by-invitation only saving scheme.”
Members may check their balances or monthly contribution either by:
i) calling us at tel: 6334 8055; or
ii) email us at enquiry@policecoop.org.sg
All dividend and interests received will be taxable.
Members may check the latest interest rate either by:
i) calling us at tel: 6334 8055; or
ii) accessing our webiste address at Savings Schemes
a) Subscription and Share Capital Saving
The Society gives out yearly dividends for these savings based on figures standing as at 31st December.
Besides the yearly dividends, subscription monies can be used as collateral for secured loans.
The dividend is paid out 14 business days after the Annual General Meeting.
b) Specific Deposit Saving
The interest rate will be reviewed and adjusted quarterly, ie, Jan to Mar, Apr to June, July to Sep and Oct to Dec.
Interest is calculated on your daily balances and will be credited into your Specific Deposit saving account in Jan and July annually.
c) Fixed Deposit
The interest rate is based on fixed return, subject to tenure period (6, 12, 24 or 36 months), and renewal is automatic.
d) STSS
A by-invitation only, subject to the T&C of the placement series.
Members may:
i) request online: Specific Deposit withdrawal Subscription withdrawal
ii) download the respective withdrawal forms from our website and thereafter to email/fax/mail in the completed form to us for processing; or
iii) drop by our office.
Crediting date would be 3 working days later upon receipt of instruction by 2pm on a working day or 4 working days later if received after 2pm on a working day.
(Note: Crediting date excludes the withdrawal request done on the eve of Christmas, New Year and Chinese New Year as cut off time is different)
The Subscription saving scheme is a compulsory saving scheme to all members.
A member may be allowed to withdraw from the Subscription saving account:
a) his/her membership is of at least five years’ standing;
b) the withdrawal should not leave a balance of less than $500.00 (Dollars Five Hundred) in the Subscription Savings Account;
c) the amount withdrawn shall be applied for such purpose as the Board may approve;
d) he/she is not liable to the Society as a borrower at the time of application; and
e) an admin levy of $20.00 plus GST will be imposed for the fifth withdrawal and subsequent withdrawals (no admin fee payable for the first to fourth withdrawal).
(Dividend will be affected due to the withdrawal)
An admin levy of $20.00 plus GST will be imposed for the fifth withdrawal and subsequent withdrawals for the Subscription saving (no admin fee payable for the first to fourth withdrawal).
Members may:
i) request the change online: Monthly Deduction Change Form
ii) download the Change in Monthly Deduction Form from our website and thereafter to email/fax/mail in the completed form to us for processing; or
iii) drop by our office.
This change can only take effect at least 2 months from the month of change request.
The loan schemes available to members are:
a) unsecured loan;
b) secured loan; and
c) exempt loan.
Exempt Loan
The 3 types of purposes qualifying for exempt loans are:
i) education – expenses attributable to a course of education;
ii) medical – expenses for essential medical treatment; &
iii) renovation – expenses for renovation of an owner-occupied property.
a) Unsecured Loan
Minimum Loan Quantum: $1000
Maximum Loan Quantum:
WITH salary check-off : $50,000 or 6 month’s income (whichever is lower);
OR
WITHOUT salary check-off : $30,000 or 4 month’s income (whichever is lower).
b) Secured Loan
Minimum Loan Quantum: $500
Maximum Loan Quantum:
Secured loans are pledged against member’s savings (except for Specific Deposit savings).
c) Exempt Loan
Minimum Loan Quantum: $500
Maximum Loan Quantum:
Case by case basis.
Renovation Loan has a cap of $30,000.
a) The interest rates for secured loans are:
i) short-term loans : 0.25% per month (repayment period from 1 to 6 months)
ii) long-term loans : 3.00% p.a. (repayment period from 12 months onwards)
b) The interest rates for unsecured and exempt loans are:
The following fees are applicable for taking a loan:
a) unsecured loan : from $170 onwards (excluding GST)
b) secured loan : from $50 onwards (excluding GST)
c) exempt loan : from $170 onwards (excluding GST)
Loans taken from government, co-operative societies or building societies are excluded.
Members may submit the following documents (in pdf or words format) to our mailbox at enquiry@policecoop.org.sg for the loan assessment:
1. Latest payslip
2. Credit Bureau Report (within 1 month – http://www.creditbureau.com.sg)
3. Latest statements(s) received on your credit facilities (eStatements/ paper statements & avoid print screen of your Internet banking.)
4. Supporting documents (if any).
The funds shall be credited into your designated bank account registered with the Society within 2 business days.
Members may do so either by:
i) calling us at tel: 6334 8055; or
ii) emailing us your enquiries at enquiry@policecoop.org.sg
Members can drop us an email at enquiry@policecoop.org.sg and our Customer Service Officer will provide the settlement details.
In order for the Society to assist you financially, the officer is required to be a member of the Society.
Members may email us their requests. The Society may impose a handling fee for such requests.
We are located at : 250 Sims Avenue
#04-01 SPCS Building
Singapore 387513
You may contact us at:
i) tel : 6334 8055; or
ii) email : enquiry@policecoop.org.sg
iii) website : https://policecoop.org.sg/
iv) FB/Instagram : http://www.facebook.com/SingaporePoliceCooperativeSociety https://www.instagram.com/sgpolicecooperativesociety/
Our business hours are Mondays to Fridays, 8.30am to 5.30pm.
As we are unable to reveal nomination information over the phone, members are advised to make a trip to our office to check or make changes.
You do not need to make a nomination if you wish to distribute your monies with the Society in accordance with the applicable inheritance laws.
a) Members may download the Nomination Form from our website.
b) Make the changes, get 2 witnesses who are 21 years old and above as witnesses and mail or bring the form to us.
The change of nominee(s) is completed within 7 working days.
Even if you have made a will, it does not supercede the nominations you had made earlier.
You do not need to make a nomination if you wish to distribute your monies with the Society in accordance with the applicable inheritance laws.
Should there be any changes to your circumstances (e.g. marriage, child birth, divorce, death of nominee) we strongly encourage you to review your nomination.
You may send the death certificate to enquiry@policecoop.org.sg and we shall get in touch with the estate.
a) Members may download the Personal Data Change Request Form from our website.
b) Make the necessary changes, and together with the change request form, front and back of NRIC and supporting document (where applicable), email them to dpo@policecoop.org.sg or mail or bring the form to us.
c) Members may log in to SPCS Member Portal using Singpass to update their personal information such as mailing address, email address, phone numbers and bank account details
Members can drop us an email at enquiry@policecoop.org.sg and our Customer Service Officer will provide the settlement details.
a) Latest 12 months = FREE
b) Subsequently after the close of last financial year:
(eg: last financial year is Year 2022, 1st year will be 2022 and so forth)
($10.00 + GST) per financial year + Handling Fee of ($20.00 + GST) per request
1st Year
2nd Year
3rd Year
4th Year
5th Year
Members may check the latest BODs either by:
i) calling us at tel: 6334 8055; or
ii) accessing Our Management
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