About CCS

Objectives

• To promote the responsible use of credit and money management through education
• To assist consumers recover from serious debt problems by providing general credit management information, credit counselling and where applicable, put up a debt repayment plan for suitable consumers
  

Mission

To assist indebted individuals resolve their debt problems and educate members of public on financial literacy.

Vision

To make Singapore a better informed borrowing society.

History

A pro-tem committee consisting Subordinate Court district judges, the South West Community Development Council and The Association of Banks in Singapore (ABS) organised a Consumer Credit Counselling Conference on 21 November 2002. The then Minister of State for Trade and Industry, Mr Tharman Shanmugaratnam challenged banking and community leaders to implement community credit counselling schemes.

Throughout 2003, the Subordinate Courts, South West Community Development Council, Singapore Pools and other concerned individuals combined resources to lay the foundations for CCS. Initial funding came from Singapore Pools and National Council of Social Service. South West Community Development Council pledged financial support for educational programs. The Association of Banks in Singapore, Monetary Authority of Singapore and all the banks gave regular feedback on what they would like to see in CCS. In August 2003, a pilot credit counselling programme commenced at the Subordinate Courts premises.

In November 2003, CCS volunteers and Ngee Ann Polytechnic ran a money education workshop for 300 teenagers from 3 secondary schools.

On 12 March 2004, CCS was officially registered as a society with a small team of full time staff. By this time CCS had managed to assuage the initial skepticism of the banking industry over the merits of credit counseling. Banks appear more supportive of the Debt Management Programme (DMP). As a result, CCS is ready to launch publicly to broadcast its services to the general public.

CCS was officially launched on 14 October 2004. The Guest of Honour was Mr Tharman Shanmugaratnam, Minister for Education and Deputy Chairman, Monetary Authority of Singapore.

CCS was registered as a Charity and became a National Council of Social Service member in June 2005.

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