TCC Credit Co-operative
TCC Credit Co-operative is a non-for-profit financial institution different from Banks and Finance Companies.
A credit co-operative is owned and controlled by the people who use its services. Credit co-operative are not-for-profit and exist to provide a safe convenient place for its members to save money and get loans at reasonable rates.
As it does not have shareholders the way commercial banks do, it instead pays out its profits to members in the form of higher interest and yearly dividend payments.
I do not know much about it when I first sign up. However year after year, it paid me good interest with good service and gave me much less problem than the strongest bank in Asia. TCC left me a good impression when I went to them again in 2005 for a loan to help out with my Mum's hospital fees. The process was tedious but through it, they found out that I only needed small amount of money each month to roll over to the next. Instead of trying to earn my hard earned money by agreeing to loan me a huge sum, they told me as member I am entitled to certain benefits and got it all worked out for me, without me having to pay a single cent of interest. Then again in 2011, I went for operation after operation and I was entitled to claim the hospitalization benefit. Not a huge sum of money but it helps to pay off the miscellaneous fees my family has to spend while caring for me in the hospital.
One improvement I hope to see is for TCC to let members know their benefits. There are so many benefits but I need to dig or ask and sometimes, I got to know it too late for the claim to be valid for process.