1. TCC CREDIT CO-OPERATIVE
“The Small bank with a big Heart”
by Dr. R. Theyvendran
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2. SOCIAL MISSION AS A PEOPLE'S BANK
• TCC was first formed in 1928, to service
employees of the Oriental telephone company
and later employees of Telecoms
•TCC has grown significantly over 84 years
CORE ROLES
• Provide members with a safe alternative for
their savings
•Access to credit facilities at affordable interest
rates.
• Extending credit to the average worker with
financial difficulties.
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3. SOCIAL MISSION AS A PEOPLE'S BANK
TCC’s VISION & MISSION
•To be the First-Choice Credit Co-operative.
•Provides family-oriented financial services.
“Every individual involved with TCC, both
presently and in the past, should take pride in
your success and know that you are making a
difference in peoples’ lives.”
L.R. (Bobby) McVeigh,
Director & Past Chairman, Credit Union Central of Canada,
Past Chairman, World Council of Credit Unions,
Director & Past Chair, Concentra Financial Services Association,
Member, UN Advisors Group on Inclusive Financial Sectors
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4. GROWTH IN MEMBERSHIP
FROM 2001 TO 2011
•Membership is open to Singaporeans and
Singapore Permanent Residents.
•Free Gifts were introduced to encourage new
members joining in.
•83.5% of its membership are having a joint
income of $2500 and below.
•Existing members enjoyed various subsidized
promotions
•Membership benefits increased, Hospitalisation,
Death Grants reviewed, Baby Bonus Introduced.
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5. GROWTH IN MEMBERSHIP
FROM 2001 TO 2011
•Assets are worth more than $75 million.
•ATM, telephone banking and internet banking
services.
“The world credit union movement is experiencing
dynamic growth thanks to a sound foundation laid
decades earlier by pioneering financial cooperatives
around the globe. TCC Ltd is one such financial
pioneer.”
Melvin Edwards,
Chairman, World Council of Credit Union
Peter Crear,
President & CEO, World Council of Credit Unions
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6. GROWTH IN MEMBERSHIP
FROM 2001 TO 2011
Over the Years, TCC has grown to nearly 42,000
members.
45000
40000
35000
30000
25000
20000
15000
10000
5000
0
2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001
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7. SOCIAL IMPACT ON MEMBERS
IN THRIFT AND LOAN BUSINESS
Technology Advancement
•TCC is ISO 9001 certified.
•TCC revamped to fully computerized system for
the management of the co-operative.
“TCC’s ability to transform itself is not a coincidence
as over the years, its management has made good
and innovative use of information technology to
enhance operational efficiency and effectiveness.”
Seah Kian Peng,
Member Singapore National Cooperative Federation Board of Trustees &
Member of Parliament
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8. SOCIAL IMPACT ON MEMBERS
IN THRIFT AND LOAN BUSINESS
An Alternative Financial Institution With A
"Heart"
•Bank's stringent Loan criterion does not cater to
lower income group.
•Lower income groups turn to Moneylenders to
solve financial difficulties.
•TCC renders assistance to such "Victims" by
consolidating all their Loans and working out
affordable repayment packages.
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9. IMPROVEMENTS FOR A
SUSTAINABLE FUTURE
•TCC Limited has been actively promoting the
concept of self-help and mutual help among its
members.
•Use of Technology will be used in greater depth.
•It has also carried upon itself the concept of
thrift to its members while always extending a
helping hand to needy members.
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10. True to its passion for helping its
members, TCC’s tagline is aptly coined:
“The Credit Co-operative with a heart”
•TCC will aim and continue to place great
importance in creating new credit facilities for
small and middle income earners and reach out
to a bigger capacity then before.
•We will work steadily in re-vamping our benefits
to provide the best for members and become a
household name.
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