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FAQ About Membership

What is a Credit Co-operative?

A credit cooperative is one that is owned and controlled by the people who use its services. These people are members. Credit co-operatives serve people who share something in common, such as where they work and live.

How is a credit co-operative different from a bank?

Banks are financial institutions that are in business to make a profit. They are owned by groups of stockholders whose interests include earning a healthy return on their investments. Credit Co-operatives are not-for-profit, and exist to provide a safe, convenient place for members to save money and to get loans at reasonable rates.

How long has TCC Ltd been in operation?

TCC Ltd has been in operation since 1928. With more than 80 years of experience you will notice the difference from the first time you step into our office. We exist for one reason – to serve our Members.

Who manages TCC Ltd?

We are managed by Board of Directors elected by members. We have a strong management team who ensures that the day to day operations are carried out efficiently.

Who can enrol as a member of TCC Ltd?

TCC membership is offered to all Singaporeans or Permanent Residents.

How can an individual enrol as a member of TCC Ltd?

It's easier than ever to be a member of TCC Ltd. There are three different ways in which membership can be enrolled in TCC Ltd.

1) Apply membership on-line via our website at www.tcc.org.sg.

2) Request for a membership application form which can be posted to your residence or office.

3) Apply in-person at our office located at 95 Killiney Rd, Singapore 239537.

What are the necessary documents required to enrol as a member of TCC Ltd?

We only require a copy of NRIC to process the membership application.

Is there any age limit to enrol as a member of TCC Ltd?

No, there is no age limit to be a member of TCC Ltd.

Is there any admission fees payable for TCC membership?

No, there is no admission fees payable for TCC membership.

What types of membership are being offered at TCC Ltd?

TCC offers three types of membership. They are:-

a) Ordinary membership

b) Family membership

c) Associate membership

What are the differences between each type of membership?

a) Ordinary membership

Have a direct salary deduction to TCC from their employer. These members are entitled to open a Subscription account, holding a subscription account is like owning shares in the co-operative. Ordinary members can also open a savings account. TCC pays an annual dividend to subscription holders which represents a share of the annual surplus earned by TCC. The account entitles Ordinary members to vote and participate at TCC's Annual General Meeting.

 

b) Family membership

Direct relationship to an ordinary member. Ordinary members often contribute to family member's savings account by salary or GIRO deduction. Family members may also save with TCC by their own GIRO deduction from a bank.

 

c) Associate membership

Do not have direct salary deduction from their employer to TCC and are usually not related to a TCC ordinary member. They usually save with TCC by monthly GIRO deduction from a bank account.

 

What is the minimum monthly contribution for subscription & super saver account?

Subscription account : Min $10 to a maximum of $10 per month (applies to ordinary members only)

Super Saver account: Min $10 to a maximum of $10 per month (applies to all types of membership)

What is the interest rate offered for savings account?

TCC is currently offering an interest rate of 0.125% pa for super saver account and 0.25% pa for WOPer savings account.

Does an Ordinary member earn interest on his/her Subscription Account?

No ,Ordinary members do not earn interest on their subscription account. They will only be eligible to earn dividend on the subscription account which will be declared during TCC's AGM.

Who can attend TCC's Annual General Meeting?

Only Ordinary members can attend TCC's Annual General Meeting.

How can a member access to their account with TCC Ltd?

a) Roboteller – Easy to use telephone banking system allows members to perform a number of functions with convenience. Members can check savings, loan and investment account balances , check transactions, order a printed statement, pay bills, send to themselves or send a cheque to a third party using TCC's Auto-cheque Service. Transfer cash to their DBS/POSB Bank account for withdrawal at the ATM. Obtain loan repayment information using our loan calculator.

b) E-teller On-line Banking – A fully functional Internet banking service, TCC's "E-teller" allows a member to check our interest rates, check account balances, view account and order a statement , pay bills, transfer cash to loan or to the account of a related member. Transfer cash to DBS/POSB bank account, calculate your loan repayment.

c) TCC's ATM – Members can use their TCC ATM card to withdraw and check on their account balances. Members may also visit our office located at 95 Killiney Road during office hours to perform their transaction or seek information on their accounts.

What is the estimated time taken for Roboteller or E-teller bank transfer?

The "transfer" costs members nothing and allows members to access their TCC savings through the bank ATM. The funds will be available within 48 hours upon transfer request.

What are the benefits offered to members of TCC Ltd?

Earn dividend on subscription account (ordinary members only).

After 5 years of membership, an Associate or Family member may apply to convert into Ordinary membership.

  • Attractive Interest rates on savings.
  • A wide range of loans offered at competitive interest rate.
  • 24 hrs banking access via Internet, Telephone & TCC ATM.
  • Common Good Fund for members.
  • Annual Loyal Membership Awards.
  • Annual Scholarship & Bursary Award.

Where is TCC Ltd located?

We are located at 95 Killiney Road, Singapore 239537.

What is the operating hour of TCC Ltd?

TCC is open from Mondays to Fridays: 8.45 am till 6.00pm

Saturday: 9.00 am till 1.00pm

How can a member obtain the latest information or updates?

Members can obtain the latest information or updates by visiting our website at www.tcc.org.sg or via the below social media sites-

Facebook || Twitter ll Instagram

Members may also contact our Members Services Officer at Tel 63193700, who will be pleased to answer their enquiries.

Members can also e-mail to our Members Services Officer at info@tcc.org.sg.

* Information is subject to changes.

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