Mr Ang Hak Seng has served in the Singapore Police Force for the past 20 years. Since 16 June 2004, he has been serving as Chairman of Police Co-op. Mr Ang sees the Co-operative as being people-oriented. The Co-operative’s members are not mere accounting digits, but a member of the family. Hence, the focus is on assisting members in improving their lives and meeting their needs. At the end of the day, it’s the members who form the Co-operative, and the Co-operative is always mindful of that fact.
In the years ahead, the Co-operative will need to remain focused on its traditional role while also keeping pace with changes in the financial landscape. The increasing membership numbers demonstrate the success of the Co-operative business model. Membership strength went up from 8,313 in 2004 to 9,013 in 2009. Total assets also increased from S$106.13 million in 2004 to S$174.37 million in 2009.
Mr Ang takes pride in the professionalization of the financial or business side of the Co-operative and sees a bright future for the Co-operative.
He foresees that the Co-operative will continue to pay competitive rates for members’ savings and adopt a holistic approach towards managing its members’ financial problems. In the area of paying out dividends, the Co-operative will continue to put aside funds during good years so that a steady rate of attractive dividends can be paid out to members, ensuring that their savings will always be maximized.
In addition, the Co-operative will continue to generate revenue through new business opportunities, joint ventures, and partnerships, especially in the area of consultancy.
The Co-operative strives to continue to increase membership numbers, and look for innovative ways to recruit members from the Home Team agencies and to maintain the highest standard of service excellence for existing members.