Constitution of the Credit Association of Singapore – The constitution states the objects, membership qualification & rights, application & cessation, dues payable Management & Committee and conduct of General Meetings.
Constitution (downloadable)

Membership Form – members who have yet to submit their membership form can download it below. The completed form can then be sent to the Association. All moneylenders should endeavour to be members of the Association to strengthen the voice of CAS and also to benefit from its services and service products.
Membership Application Form (downloadable)

Association’s Solicitor – Mr. Leslie Netto of M/S Netto & Magin LLC drafted the Constitution of the Association. He also assisted the interim committee in registering the Association with the Registrar of Societies and conduct of the first AGM. He has been retained as the solicitor of the Association. The terms and conditions of appointment of Mr. Leslie includes provision of services to all members of the Associatio, on a preferred rate, with respect to demand letters…etc.

CAS, during the dialog sessions with ROM and MAS on the “consultation” phase of the new Moneylending Act and Rules – it was anticipated that such a requirement will soon follow after the implementation of new Moneylending Act. In anticipation of such a requirement, CAS commissioned for the development of a comprehensive software for all moneylenders that is in compliance with the revised Moneylending Act and Rules that came into effect on 1st March 2009. The Software was introduced in April 2009.

Since then, based on feedback by users, the software has been transformed to reach the current stage of stability and reliability. The software has gone through numerous modifications to accommodate the different practices of the money lending business. The software is currently marketed by CAS service provider Sivren Pte Ltd and an online version was launched in Dec 2011 by the company.

Considering ROM’s impending implementation of Computerisation as a condition for the renewal of licences – CAS has arranged for service providers to assist moneylenders who are not computer literate, to comply with ROM’s requirement. These service providers who will be trained on the use of the moneylending software, will assist moneylenders to enter periodically the loan transaction data from records maintained on their Cash Book. The service providers will facilitate copies of monthly and quarterly reports as required by ROM. They will also generate all other reports stipulated by the Act for moneylenders to maintain.

The CAS website www.moneylenders.sg has been revamped to provide better services to its members and the public at large. There have been a number of adverse press reports on the moneylending business. The Association has also spoken to the media to arrest these adverse reports. It is sad that to know that there are a handful of Lenders who have actually abused the new Act and take advantage of borrowers who are in need of funds. These few has invariably brought dispute to the money lending industry in general.

This adverse impression of moneylenders must be arrested. As a way to our share of social responsibility, the Association in its revamp of its website, have included features for the general public awareness, Borrowers and Lenders.

For the website to serve its intended purpose, all moneylenders must become members of the Association and participate by logging in and entering details of their borrowers and bad debtors.

The website www.moneylenders.sg, has a feature for moneylenders [members] to enter details of their borrowers [ Name, ID, Date of Loan]. These data entered by all the moneylenders will be stored in the backend online database.

Similarly the moneylender can also enter details of their bad debtors. These data is also stored in the backend online database.

The general public, by way of an online application can request that they be informed prior to granting a loan or refuse any loan applications – made by their relatives. These data is also stored in the same database. Where such requests are made the service provider will ensure verifications to deter any abuse of this feature. The service provider may charge the “requesting” person a nominal fee.

When a moneylender receives an application for loan, he/she can check from the “search” provision in the website, by entering the applicants name or ID. The report will show as to the number of moneylenders the applicant has borrowed from, as to whether he is declared a bad debtor and as to whether the applicant is banned or need his/her relatives consent.

This valued information is very useful for moneylenders. For this to succeed moneylenders must make an effort to enter the required details.