Co-operatives in Singapore are a special type of business that operates differently from the traditional companies. Unlike traditional companies that are owned by a few individuals or shareholders, co-operatives are owned and run by a group of people who share a common goal. In other words, co-operatives are owned and controlled by their members, who work together to achieve a common purpose.
There are many different types of co-operatives in Singapore, such as service co-operatives, credit co-operatives, campus co-operatives, and NTUC co-operatives. Each of these co-operatives serves a specific purpose, such as providing goods and services to members, providing employment opportunities for workers, producing goods and services for the market, and providing affordable housing for members.
For example, the NTUC FairPrice co-operative is a consumer co-operative that provides its members with a wide range of goods and services, such as groceries and household items. The co-operative was established in 1973, and it has since grown to become one of the largest supermarket retail chains in Singapore.
Another example is the TCC Credit Co-operative is a financial co-operative that provides a range of financial services to its members, including savings and loans. The co-operative was established in 1928, and it has since grown to become one of the largest financial co-operatives in Singapore, with over 14,000 members...
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