Enhanced Proposer Scheme. 81 st AGM. Welcome Gift for New Member! Announcement: Contents:

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1 April to June 2011 MICA (P) 188/10/2010 st The Singapore Police Co-operative Society Limited will be holding its 81 st Annual General Meeting on 9 June 2011, Thursday. The details of the Meeting are as follows: With 81 st AGM Venue: HomeTeamNS-JOM Clubhouse Function Hall 31 Ah Hood Road, Singapore Time: 11:00am All members are invited to attend the meeting. Members are encouraged to bring along their copy of the Annual Report. For more details about Dividend Payment, please refer to Pages 2 and 3. Announcement: In view of the 81 st AGM, the Co-operative s office will be closed on 9 th June Members can still use the Co-operative s phone-banking system (Tel: ) to carry out transactions on that day. Enhanced Proposer Scheme effect from 1st May 2011, members who propose* new officers to join the Co-operative will receive not but + + for every successful introduction. This is our way of thanking you for helping us to recruit new members to join the Co-operative! Welcome Gift for New Member! (while stocks last!) 1) * The proposer must accompany the new applicant(s) personally to sign up for membership at the Co-operative s office. 2) * Applicants must bring along their NRICs, a copy of their latest payslip and a copy of their bank passbook/statement in order to redeem the welcome gift for new member. The membership form also has to be submitted at the same time. 3) * Upon submission of the complete set of documents by the applicants, the proposer will be entitled to the vouchers. Contents: SMS Alert System & 81 st Annual General Meeting Page 2 Change in Bank Account Form / Dividend Payment-SD Instruction Form --- Page 3 MHA Interest-Subsidy Study Loan Scheme Pages 4 & 5 Credit Guarantee Cover for Loans Page 6 Preparing for Rainy Days & FD Rates Page 7 Winners of the 85 th Anniversary Quiz Page 8

2 SMS Alert System With effect from 1 st April 2011, the Co-operative has been sending out SMS Alerts to our members. Below are the current SMS Alert services provided by the Co-operative: 1) Fixed Deposit Renewal: The new SMS Alert System will replace the current reminder letter to inform members of the maturity date of their Fixed Deposit(s). 2) Expiry of Loan(s): An SMS will be sent out to members whose loans are expiring soon. 3) New Members: An SMS will be sent to new members when they are eligible to enjoy the array of services provided by the Co-operative. 81 st Annual General Meeting Dividend Payment The dividend payout for Financial Year 2010 will be announced during the Meeting. Members have the following two options to credit his/her dividend payout: 1) To Bank Account The Co-operative will credit a member s dividend payout to his/her account within seven (7) working days after the AGM. Members must ensure that their bank accounts are still valid so as to facilitate the timely crediting of dividend monies. Members who have recently changed their account numbers but have yet to inform the Co-operative are requested to do so by filling up the Change in Bank Account Form (see Page 3) and fax or mail it back to us. Members are also requested to furnish the Co-operative with a copy of their new bank book/statement. This is to allow the Co-operative to verify the particulars. 2) To Specific Deposits Account Alternatively, members can opt to have the dividend payout credited to their Specific Deposits (SD) Account. If you wish to select this option, please authorise the Co-operative to perform this transaction by using the Dividend Payment - SD Instruction Form (see Page 3). Kindly note that this instruction is valid only for the FY2010 dividend payout. Members who have, in a previous year, requested for dividend monies to be credited to their SD accounts are advised to submit their requests again. All forms are to be faxed/mailed to the Co-operative by 31 May The Singapore Police Co-operative Society Ltd

3 Date: Change in Bank Account Form The Chairman The Singapore Police Co-operative Society Limited 250 Sims Ave #04-01 SPCS Building Singapore Dear Sir, Change in Bank Account I, (NRIC No. ), hereby inform the Co-operative that my new bank account is as follows: Account No.: Name of Bank: Branch: Enclosed, please find a photocopy of my new bank book/statement. Please use this bank account for my future transactions with the Cooperative with immediate effect. Thank you. Yours faithfully, Division: Contact No: (O) (HP) ( ) Please fax or mail this instruction back to the Co-operative by 31 May Date: Dividend Payment - SD Instruction Form for FY2010 The Chairman The Singapore Police Co-operative Society Limited 250 Sims Ave #04-01 SPCS Building Singapore Dear Sir, Dividend Payment - SD Instruction Form for FY2010 I, (NRIC No. ), hereby authorise the Singapore Police Cooperative Society Limited to credit my dividend monies due to me for FY2010 to my Specific Deposits Account. I understand that the monies will be available for withdrawal 14 days after the Annual General Meeting. Thank you Yours faithfully, Division: Contact No: (O) (HP) ( ) Please fax or mail this instruction back to the Co-operative by 31 May The Singapore Police Co-operative Society Ltd 3

4 MHA Interest-Subsidy Study Loan Scheme The Ministry of Home Affairs (MHA) has recently put in place an Interest-Subsidy Study Loan Scheme for MHA in-service Junior Officers. Under this scheme, eligible officers who take up study loans from the Singapore Police Cooperative Society (at the Co-operative s prevailing loan interest rate) may apply for reimbursement of the interest payment of up to 4% per annum and capped at S$3,000 for the entire course of study upon successful completion of course and full repayment of loan. Details of the scheme (by MHA) Target Group Type of Course Sponsorship Quantum Eligibility Criteria Application : MHA HUS/HAS Junior Officers : Degree Programmes only (not applicable to MHA sponsored programmes). Priority will be given to course of study directly relevant to respective Home Team Department s core function. : Up to 4% in interest rate per annum and up to $3,000 interest reimbursement for entire course : 1) Officers should have successfully completed the course 2) Good performance over the past 3 years 3) Loan is fully paid up to the Loan Administering Agencies : Officers to submit application within 3 months after successful completion of studies or full repayment of study loan, whichever is later Police Co-operative s Study Loan Scheme Officers who are interested in furthering their studies may approach the Co-operative for a study loan. The Co-operative s Study Loan Scheme is as follows: Eligibility Criteria : The Singapore Police Co-operative Society s Study Loan is open to all members with membership of 36 months or more Loan Amount : Up to a maximum of $15,000 Repayment Period Interest Rate : 6 to 36 months : 5% flat per annum for repayment period of less than 12 months to 24 months, or 5.25% flat per annum for repayment of more than 24 months to 36 months Members of the Co-operative who are interested in taking up a study loan to further their studies may submit their loan application to the Co-operative together with a copy of their latest original payslip, NRIC, and also the Invoice or the Letter of Demand for Course Fee. Members can send these documents via fax to or send an to enquiry@policecoop.org.sg. 4 The Singapore Police Co-operative Society Ltd

5 Below is a case study on how a police officer (who is also a member of the Co-operative) can enjoy the MHA Interest- Subsidy Study Loan Scheme by taking up a Study Loan with the Co-operative. Scenario: SGT David Tan has been a member of the Singapore Police Co-operative since In February this year, he embarked on a 2-year Part-Time Degree Programme at SIM University of his own accord. To finance his education, he applied for a Study Loan of $30,000 from the Co-operative at an interest rate of 5.25% per annum with a loan tenure of 3 years with effect from February If SGT Tan fully meets the eligibility criteria for the Interest- Subsidy Study Loan Scheme, how much interest subsidy will he be eligible for? When can he apply for the Interest- Subsidy? The total amount of interest paid by SGT Tan on the study loan is computed as follows: $30,000 x 5.25% x 3 years = $4,725 As sponsorship quantum is capped at 4% interest per annum and up to $3,000 for the entire course, SGT Tan is allowed to claim interest-subsidy of the following amount: 1 st Year : $30,000 x 4% = $1,200 2 nd Year: $30,000 x 4% = $1,200 3 rd Year: $3,000 - $1,200 - $1,200 =$600 (as the total amount of interest subsidy is capped at $3,000 for the entire course of study, SGT Tan is only allowed to claim up to $600 in Year 3) Total Amount of Interest-Subsidy Claimable = $3,000 SGT Tan may submit an application for interest-subsidy claim within 3 months after successful completion of studies or full repayment of study loan, whichever comes later. In this case, since SGT Tan will be completing his studies in February 2013 and will fully pay up his loan by February 2014, he may apply for the interest-subsidy anytime from March to May Officers who require further clarifications on the Interest-Subsidy Study Loan Scheme may approach their respective HR Departments for advice. Alternatively, if a member wishes to learn more about the Co-operative s Study Loan Scheme, he/she can call the Co-operative s office at or send an to enquiry@policecoop.org.sg. A publication by the Ministry of Home Affairs on the Home Team Enhanced Academic Opportunities Programme The Singapore Police Co-operative Society Ltd 5

6 Credit Guarantee Cover for Loans We have received some enquiries from our members regarding the article on the new Credit Guarantee Cover Scheme which was published in the previous issue of the Police Co-operator. We would like to take this opportunity to explain to our members how this scheme works using a Case Study. Case Study: Mr Tan, who is a member of the Co-operative for 7 years, wishes to apply for a loan of $30,000 to pay for his house renovation. He wishes to repay the loan over a period of 48 months. Interest Rate, Fee In-Lieu and Guarantor: The table below will show what Mr Tan will enjoy under the new scheme as compared to the old scheme: Loan Default: Should Mr Tan default on his repayment, then under the new Credit Guarantee Cover Scheme, legal action will be taken by the insurance company or its representatives against Mr Tan directly. Repayment Period and Interest Rates: The new Credit Guarantee Cover Scheme covers a repayment period of up to 60 months only. Should a member require a loan with the repayment period exceeding 60 months, approval must be sought from the insurance company providing the credit guarantee cover before the disbursement of loan. Interest rates will be charged based on length of membership with the Co-operative and the length of the loan repayment period. The chart on the revised interest rates is given below: 6 The Singapore Police Co-operative Society Ltd

7 Preparing for Rainy Days As we go about our daily tasks of living, we will inevitably encounter various forms and levels of risk. Personal events can range from illness, disability, unemployment, accident, death and so on. It is prudent to ensure that should an unfavourable event occur, there is a mechanism in place to make good any financial loss. It is judicious to save at least six months salary as a buffer against rainy days. Start setting aside a monthly fixed amount in the Co-operative Specific Deposits Savings Scheme as your Emergency Fund. The Specific Deposits Savings Scheme is a monthly regular savings scheme which allows members to contribute from as low as $10 per month. The Co-operative s Specific Deposits Rate is also higher compared to what most financial institutions in Singapore offer. Between 1 st April and 30 th June 2011, the Specific Deposits rate offered by the Co-operative is 0.45% per annum. From 1 st July to 30 th September 2011, the rate will be increased to 0.50% per annum. To start contributing to this Scheme or to adjust the monthly contribution, members may visit the Co-operative s website ( to download the Change in Monthly Deduction Form. Members are required to fill in the amount they wish to start contributing monthly and return the form to the Co-operative via post or fax. Alternatively, if a member has the PIN to the Co-operative s phone-banking system, adjustment via this facility can also be effected. If you have any queries regarding the Specific Deposits Savings Scheme or how to go about making the change to your monthly contribution, do not hesitate to contact the Co-operative s office at or send your enquiry to enquiry@ policecoop.org.sg. Fixed Deposit Scheme Place your idle funds under the Singapore Police Co-operative s Fixed Deposit Savings Scheme to earn a higher interest. The current Fixed Deposit rates are as follow: Answers to the 85 th Anniversary Quiz: 1) Associate Professor Ho Peng Kee 2) Grand Hyatt Singapore 3) 12-month Fixed Deposit of $5,000 at an interest of 8.5% per annum with the Singapore Police Co-operative Society 4) $50 5) Children s Cancer Foundation Editorial Committee Advisor: Mr How Kwang Hwee Editor: Ms Elizabeth Ngeo Writer: Miss Valerie Yek Printed by: Colorworld Graphics Pte Ltd The Singapore Police Co-operative Society Ltd 7

8 Winners of the 85 th Anniversary Quiz Congratulations to all the 85 winners who participated in our 85 th Anniversary Quiz! They answered all 5 questions correctly! Well done! The following 82 names are of the winners who each won the Consolation Prize which consists of $20 worth of Robinsons Vouchers. Winners may claim the prize from the Co-operative s office (250 Sims Avenue SPCS Building #04-01 Singapore ) from 23rd May to 10th June 2011, Monday to Friday, 0830hr to 1730hr. Mr Lim Chee Pheng, Chairman of Well-Being Committee, conducting the ballot Wife of Mr Chia Kum Khuen (Sxxxx617D) collecting on his behalf. Mr Chia has won $500 worth of Robinsons Vouchers, $100 Dining Voucher at Pete s Place and 1 Sharp DVD Player Mr Mohamed Sharani Bin Rais (Sxxxx124H) has won $300 worth of Robinsons Vouchers and $100 Park Royal Dining Voucher Brother of Mr Lim San Hai, Philip (Sxxxx017H) collecting the prize on his behalf. Mr Lim has won $100 worth of Robinsons Vouchers and 3D2N Genting Travel Package for 2 Consolation Prizes (82 Prizes): 1. HOONG KAR MEI CINDY 2. IBRAHIM BIN MATZIN 3. KRISHNAN S/O KURUSAMY 4. LOW MIN CHONG JUNE 5. SAIRI BIN AMAN 6. YEOH HOCK KIM 7. EU SIEW MING MICHAEL 8. TEH POH LENG 9. YEE WAI ONN 10. IBRAHIM BIN TECKLAN 11. PRABAKARAN S/O RAGHARAN 12. CHAN WEE YIN 13. CHU FEE LING 14. GOH SIU GEK 15. KUEK SIEW BEE 16. CHAN HOOI MENG 17. JAFRI BIN MOHAMED 18. YAP HAI CHEOW MARY 19. FOO BEE HONG 20. OW CHENG NEO 21. TAN CHEOW YONG 22. FOO LI-MEI MICHELLE 23. THIRUMURUGAN S/O NARAYANAN 24. KOH SOO LI 25. SIM KWEE LAN 26. LAM PENG CHOY 27. CHIA YEN JOO 28. SURENDRA KUMAR STRESTHA 29. LIM LEE NA MINDY 30. ONG LAY CHOO 31. TENG YAN CHOO 32. CHUW SOK CHUN 33. TEO CHEE HIAN 34. SAMSUDDIN BIN KARTUBI 35. TANN SOON AUN KEVIN 36. TEO CHENG HAI 37. CHUA LEE NOI FLORENCE 38. LEE CHYE HUAT 39. ZAINAL ABIDIN BIN MISLAN 40. GOH PEI TIAN 41. SHARIFA BINTE IBRAHIM Sxxxx234G Sxxxx757C Sxxxx212I Sxxxx344H Sxxxx475F Sxxxx681J Sxxxx790J Sxxxx009E Sxxxx380E Sxxxx939H Sxxxx396C Sxxxx041F Sxxxx363J Sxxxx815J Sxxxx838J Sxxxx560I Sxxxx669B Sxxxx659D Sxxxx947I Sxxxx633H Sxxxx786G Sxxxx553Z Sxxxx230Z Sxxxx356G Sxxxx572I Sxxxx037Z Sxxxx251F Fxxxx440L Sxxxx237G Sxxxx330A Sxxxx809Z Sxxxx010J Sxxxx635C Sxxxx082F Sxxxx779D Sxxxx627C Sxxxx657G Sxxxx915B Sxxxx028B Sxxxx850Z Sxxxx720J 42. SIM LI GUEK 43. TAY TIONG PENG 44. SOH WAN KHUAN 45. MUHAMMAD SYAHRUDIN BIN NGAH 46. THIAN CHEE KENG 47. FOO KHEE HOW 48. KEE MUI HOON 49. CHONG SOO PIN 50. KOO BOON TECK 51. TEN CHIN CHOON 52. TAN HONG HAN 53. LOW JIING HAUR 54. TANG AH HEOK JOYCE 55. SITHRA DEVI D/O S. CHITTY 56. TEO CHIN KEONG 57. LIM HIAN TECK 58. NG KIM SAN SAMUEL 59. LIM KIM HWEE 60. ANNABEL KEE JU PING 61. JAMES LIM CHEE YONG 62. AMRIT GURUNG 63. TAN YOKE LOONG 64. ANG SIAM HEE 65. NG LI CHIN 66. TEO NGUAN HENG 67. LIEW SOOK CHUN 68. ROSMAN BIN SALLEH 69. GOON LEE HWA 70. LOW SWEE CHING 71. CHUA LEH ANN 72. YEO CHIN TIAN KENNY 73. ERIC LIM YONGJIE 74. SHAHRUL IMRAN BIN SULAIMI 75. GOH CHIEW CHUAN 76. MOHAMAD NOOR SHAFIE BIN ABDUL AZIZ 77. CHONG BOON FEI 78. TAN CHEE SENG ANDREW 79. CHUA SOW TIN TERESA 80. ALVIN LIM LIAK PENG 81. GOH KWEE MENG 82. ANG OON THO Sxxxx241J Sxxxx722G Sxxxx440C Sxxxx919C Sxxxx859F Sxxxx927Z Sxxxx272G Sxxxx960C Sxxxx916H Sxxxx594J Sxxxx811I Sxxxx349D Sxxxx988H Sxxxx484D Sxxxx326E Sxxxx204Z Sxxxx828Z Sxxxx420F Sxxxx295C Sxxxx259E Fxxxx941K Sxxxx090H Sxxxx104J Sxxxx798A Sxxxx152A Sxxxx248E Sxxxx367H Sxxxx799J Sxxxx774I Sxxxx887I Sxxxx086H Sxxxx467D Sxxxx105Z Sxxxx837H Sxxxx620G Sxxxx616I Sxxxx849E Sxxxx315Z Sxxxx082J Sxxxx222Z Sxxxx926J 8 The Singapore Police Co-operative Society Ltd