Corporate Governance
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Code of Governance For Co-operatives

The Code of Governance for Co-operatives (“Code”) was launched by the Singapore National Co-operative Federation on 11 Nov 2006 at the Annual Co-operative Leaders’ Conference.  The Code encapsulates the best governance practices of the industry and aims to help co-op boards and management better fulfill their roles.  The Code is meant to assist all co-ops (including non-affiliates of SNCF) to examine and raise their governance standards.

Code components and tiers

The Code of Governance for co-operatives was formulated by a co-operative review team comprising representatives from the Ministry of Community Development, Youth & Sports, the Monetary Authority of Singapore, the Ministry of Finance, the National Trades Union Congress and the SNCF.  It consists of principles and guidelines for each of the following broad components:

  • Board Matters
  • Conflict of Interest Policy
  • Human Resource Policy
  • Accountability & Audit
  • Capital, Assets & Funds
  • Corporate Communications: Communications with members and stakeholders

The Code will be tiered according to credit and non-credit co-operatives. Credit Co-ops which are of greater regulatory risk (in view of their deposit-taking activities) will be subjected to more stringent requirements regardless of their annual turnover.

Code of Governance

  • For Credit Co-operatives

Code of Governance (17 Oct 2016)

  • Non-credit co-operatives, on the other hand, will be subjected to the Code’s requirements based on their annual turnover as follows:
    • Below $500,000
    • $500,000 and Above
  • For Co-operatives (Annual Turnover of S$500,000 & Above)

Download

  • For Co-operatives (Annual Turnover of Less than S$500,000)

Download

Self-Evaluation Checklist

  • For Credit Co-operatives

Download (Updated 17 Oct 2016)

  • For Co-operatives (Annual Turnover of S$500,000 & Above)

Download

  • For Co-operatives (Annual Turnover of Less than S$500,000)

Download

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