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Joining a Thrift and Loan Co-op is one of the best ways by which you can free yourself from financial difficulties and at the same time inculcate the habit of thrift. The idea of a Thrift and Loan Co-op was first mooted as far back as 1925. Wage earners were then at the mercy of unscrupulous moneylenders who charged exorbitant rates of interest. The thrift and loan type of co-operation was then introduced in Singapore to combat widespread usury and indebtedness It was also the earliest form of co-operative movement in Singapore.