Know Our Co-ops series

Co-operatives have been an integral part of shaping Singapore, touching the lives of more than 1.4 million members. Co-operatives were birthed out of shared needs, responsibility and commitment to each other and to the society, and were amongst the earliest community self-help organisations to take root in Singapore.

The Know Our Co-ops series aims to let our affiliates to get to know each other better; appreciate each other's good work; and encourage conversations which can lead to collaborations. After all, we are in the same business to make a difference.


The world is facing a time of unprecedented uncertainty. The COVID-19 pandemic has created a chaotic whirlwind of prolonged economic uncertainty. Despite the difficulties, co-operatives like the Singapore Shell Employees’ Union Co-operative Ltd (SSEU Co-operative) continue to focus on helping members manage and weather through the current situation.

Registered on 31 August 1990, SSEU Co-operative was set up with the Singapore Shell Employees' Union, a trade union representing the bargainable and junior executive staff of Shell companies in Singapore as its founder members. The principal activity of the co-operative is to encourage thrift by receiving deposits from members and to prevent permanent indebtedness by enabling them to obtain loans on reasonable terms. It operates on the concept of self-help. SSEU Co-operative also operates an employment services agency, supplying temporary and contract staff to Shell and Shell related companies.

Amidst the pandemic, the co-operative continues to offer highly attractive patronage rebates to the already superior loan interest rates that are available to members for unsecured loans.

They innovate with new offerings like micro-loans in 2019 that offer the market edge to help members who need short term loans. For a loan of $1,000, the repayment period is 5 months and interest free. Other loans include personal loan, marriage and child assistance loan, education, and renovation loan.

To encourage savings, the monthly contribution ranges from a minimum of $10 to maximum of $1,500. The savings account is currently offering an interest rate of 1.50% per annum. The saving balance after withdrawal is a low $20.00. To its members, benefits like this stretches their every hard-earned dollar.

With thrift and loan business as the core of its primary existence, it is imperative that SSEU Co-operative stands tall by practising good corporate governance. It cleared the recent audit under a stringent level of scrutiny by the auditors with no qualifications. SSEU Co-operative also passed the test on business viability signalling that the co-operative is strong financially, and resilient enough to tide through the various business and economic scenarios.

Despite the economic choppy waters, co-operatives like SSEU Co-operative are demonstrating that they can rise above the storm with integrity and empathy. Co-operatives exist to benefit members and help improve their lives.