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THE BENEFITS |
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Hospitalisation Scheme |
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A member of the AUPE Multi-purpose Co-op Ltd who is warded in a registered hospital in Singapore may claim an allowance of $20 for each day of hospitalisation subject to a maximum of $5,000 per calendar year and a total limit of $10,000 per member for his entire period of membership. The allowance is to assist members to meet part of the hospital expenses. |
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Every fully paid-up member is eligible for the benefit on condition that: |
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a) |
he has at least 6 months’ membership with the Society; |
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b) |
he should not be in arrears of subscriptions or loan instalment re-payments; |
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c) |
he has to make the claim within 90 days from the date of discharge from hospital; and |
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d) |
he is below age of 65 years of age |
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Click here for Hospitalisation Benefits Claim Form |
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Study Grants |
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Study grants varying from $50 to $300 are offered to you to help meet your children's educational expenses. These are offered yearly, mostly based on financial need. |
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Types of Grants |
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Primary School |
$ 50 |
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Secondary School |
$100 |
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ITE/Pre-U/Junior College |
$150 |
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Polytechnic |
$200 |
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University |
$300 |
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Conditions |
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Members must have at least one year of membership and must not be in arrears in their subscription payment. |
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Members can submit one application per child per year. |
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In addition to the Co-op, the AUPE itself and the S&R Club also offer study grants. This enables more members to benefit from the awards. |
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Thrift And Loan Services |
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You can save with the AUPE Multi-purpose Co-operative to maximize your earnings on your “spare” funds. The Co-operative has been paying competitive dividends and interests for its three types of savings accounts, namely Subscription Savings, Saving Deposits and Term Deposits. |
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I. |
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TYPES OF SAVINGS |
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1. |
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Subscription Savings |
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All members are required to maintain a compulsory Subscription Savings Account. You can save as little as $10 to a maximum of $50 per month. This subscription savings account will attract an annual dividend. |
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Saving Deposits |
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As a member of the Co-operative, it is not compulsory to save under the Saving Deposits Account. However, it helps you to put aside some money for a rainy day. You can save a minimum of $10 per month to a maximum of 30% of your total deductions of your monthly salary. |
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Interest is paid once a year based on the balances as at 30 December. For 2009, the interest is very attractive at 1.5% interest per annum. |
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You can withdraw your savings under this Account any time as and when you require. |
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3. |
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Term Deposit |
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A member may deposit a minimum sum of $500 in the Term Deposit Account for a fixed period of either 6,12 or 18 months. Attractive interest is paid on this account. |
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II. |
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TYPES OF LOAN |
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4. |
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Secured Loan (Short Term and Long Term) |
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You can apply for a Secured Loan using the total sum of your Subscription Savings, Saving Deposit, Special Deposit Saving and Term Deposits as security. |
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Interest rate is 4% per annum for a loan duration not exceeding 6 months, and 5% per annum exceeding 6 months. |
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5. |
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Personal Loan |
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A member may apply for a loan up to eight times his gross monthly salary or $30,000 whichever is lower. Interest chargeable is 6% per annum. |
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Hardship Loan |
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A member in hardship may apply for a loan up to two times his gross salary or $7,500 whichever is lower. |
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Education Loan |
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A member who has difficulty in sponsoring his child to pursue overseas tertiary education may apply for an education loan up to 6 times his gross monthly salary or $50,000 whichever is lower. |
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Prior Debt Loan |
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A person who has a prior debt may apply for a loan on becoming our member. |
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III. |
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LOAN APPLICATION PROCESS |
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9. |
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Applying at “Wisma AUPE” office |
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You may apply for a loan by either coming down to our office personally, or you may apply online via our website at http://www.aupegroup.org.sg. If you come to the office, please remember to collect a queue number and wait for your turn. You will be attended quickly. In most cases, you may get your loan cheque on the same day. |
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10. |
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Applying online |
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If you apply online, our staff will contact you once we receive your application. You will be given an appointment to come down to our office to collect your cheque. You will be attended to immediately if you come at the appointed time. This is our speedy loan service. |
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IV. |
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DOCUMENTATION FOR LOAN APPLICATION |
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Documents required when applying for a secured loan |
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(a) |
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your original NRIC; |
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Documents required when applying for a non-secured loan |
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(a) |
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your original NRIC; |
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(b) |
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your latest payslip; |
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(c) |
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personal credit report for credit assessment if your monthly salary is $1500 and above; any |
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(d) |
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latest credit cards and overdraft statements. |
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V. |
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Guarantee for non-secured loan |
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A non-secured loan may be guaranteed by two Sureties, or an applicant may request to be guaranteed under the Loan Default Guarantee Scheme. All non-secured loan applications are subject to credit assessment. |
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