Newsletter
December 2021 Issue: Co-operator Newsletter Quarterly Issue
New & Enhanced CCF Grants To Help Co-operatives Tide Through Covid-19 and Beyond
From October 1, 2021, Singapore co-operatives can apply for a series of new and enhanced grants to build capabilities, innovate, and transform amongst co-operatives in Singapore.
Set up under the Co-operative Societies Act, the Central Co-operative Fund (CCF) is administered as a trust fund under the Minister of Culture, Community and Youth. The Singapore National Co-operative Federation (SNCF) is the appointed Secretariat to the CCF committee who oversees the CCF.
The new and enhanced CCF Grant Framework aims to further co-operative education, training, research, audit and for general development of the co-operative movement in Singapore.
As of October 1, 2021, the new CCF Grant now comprises five components: (1) CCF Development Grant; (2) CCF Training Grant; (3) CCF Special Grants; (4) CCF Basic Support Grant; and (5) CCF New Co-operative Grant.
Of which, the CCF Basic Support Grant is the newest addition to pool of existing grants while the scopes of CCF Grant Development Grant and CCF Special Grants were expanded.
Since the COVID-19 pandemic, co-operatives have had to pivot to better sustain themselves. They do so by adopting technology and innovative processes to stay attuned their members’ need. The grants can be used to offset costs when co-operatives look to host phygital events or beef up their cybersecurity measures.
Not to be mistaken with CCF Basic Support Grant, the CCF Support Package is an initiative given to active co-operatives registered under the Registry of Co-operative Societies (RCS) to support them during COVID-19.
On what the one-off grant means for the new co-operative, Mr Vincent Ng said: "It wasn't so much the amount but what the amount meant ... that someone cared enough about our struggles to give us a cash grant. This, I think, exemplifies the co-operative spirit — that we are not alone in this, and it gives us some courage and fighting spirit to carry on."
Mr Ng said that money from the grant was used to pay for small business expenses, such as IT fees for web hosting. This comes timely considering how many businesses are pivoting towards going digital in the post-pandemic landscape.
“Through these grants, SNCF hopes to continue empowering the co-operative movement to improve their cybersecurity capability or organise phygital events to engage more members while maintaining the necessary safety measures,” says Mr Ang Hin Kee, SNCF’s chief executive officer.
Check out the following CCF Grants here:
Set up under the Co-operative Societies Act, the Central Co-operative Fund (CCF) is administered as a trust fund under the Minister of Culture, Community and Youth. The Singapore National Co-operative Federation (SNCF) is the appointed Secretariat to the CCF committee who oversees the CCF.
The new and enhanced CCF Grant Framework aims to further co-operative education, training, research, audit and for general development of the co-operative movement in Singapore.
As of October 1, 2021, the new CCF Grant now comprises five components: (1) CCF Development Grant; (2) CCF Training Grant; (3) CCF Special Grants; (4) CCF Basic Support Grant; and (5) CCF New Co-operative Grant.
Of which, the CCF Basic Support Grant is the newest addition to pool of existing grants while the scopes of CCF Grant Development Grant and CCF Special Grants were expanded.
Since the COVID-19 pandemic, co-operatives have had to pivot to better sustain themselves. They do so by adopting technology and innovative processes to stay attuned their members’ need. The grants can be used to offset costs when co-operatives look to host phygital events or beef up their cybersecurity measures.
BENEFITTING CO-OPERATIVES AFFECTED BY COVID-19
Earlier in August 2021, The Straits Times spotlighted one of SNCF’s affiliates A Good Space Co-operative Limited who has benefitted from the CCF Support Package, comprising a one-off grant amounting to $2,000. Under this initiative, co-operatives also received a waiver of the first tier CCF contributions for year 2020 and 2021.Not to be mistaken with CCF Basic Support Grant, the CCF Support Package is an initiative given to active co-operatives registered under the Registry of Co-operative Societies (RCS) to support them during COVID-19.
On what the one-off grant means for the new co-operative, Mr Vincent Ng said: "It wasn't so much the amount but what the amount meant ... that someone cared enough about our struggles to give us a cash grant. This, I think, exemplifies the co-operative spirit — that we are not alone in this, and it gives us some courage and fighting spirit to carry on."
Mr Ng said that money from the grant was used to pay for small business expenses, such as IT fees for web hosting. This comes timely considering how many businesses are pivoting towards going digital in the post-pandemic landscape.
“Through these grants, SNCF hopes to continue empowering the co-operative movement to improve their cybersecurity capability or organise phygital events to engage more members while maintaining the necessary safety measures,” says Mr Ang Hin Kee, SNCF’s chief executive officer.
Check out the following CCF Grants here:
- CCF Development Grant - To enhance co-operatives’ capabilities, governance and operational efficiency
- CCF Training Grant - To help co-operative officers gain knowledge and relevant skills
- CCF Special Grants - To provide co-funding for specific schemes and projects
- CCF Basic Support Grant - To assist co-operatives that are unable to meet standard grant eligibility criteria
- CCF New Co-operative Grant - To support initial set-up costs and operating expenses of new co-operatives
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