Document background
The Authorization Letter for Coop Loan is a crucial document in Singapore's cooperative lending landscape, designed to facilitate loan applications while protecting both the member's and cooperative's interests. This document is required when a cooperative member seeks to obtain a loan through their cooperative society, providing formal permission for the cooperative to process the loan application and access necessary information. It must comply with Singapore's Cooperative Societies Act and related regulations, including data protection requirements. The letter typically includes the member's personal details, loan specifications, authorization scope, and necessary declarations, serving as a legal record of the member's consent for the loan processing.
