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Thrift and Credit Cooperatives are those whose members are people having the same occupation or living in the same community. Its main purpose is to promote savings among members and provide loans for productive investment.

Backgound

The continuously increasing living cost has become a big burden for those in the low in income group as they never earn enough to cover their daily needs. They tend to deal with this problem through the moneylenders who charge them very high interest rates. By doing so, their debt situation worsens and becomes increasingly serious.

However, this money problem lessened when they join together under the cooperative principles of self-help and mutual help. The first cooperative in this regard was formed among officials of the Cooperative Promotion Department and employees of the Bank for Agriculture and Agricultural Cooperatives (BAAC).
It was registered on 28 September 1949 as the Cooperative Officials' Cooperative Limited, which is presently named the Cooperative of Cooperative Officials, Ltd. On the other hand, the Soon Klang Thewa Credit Union Cooperative was established as the first community savings cooperative in the slum area of Huai Kwang and Din Daeng districts, Bangkok on 25 July 1965.

Objective

Being as financial institution, the specific objectives of Thrift and Credit Cooperatives are

1. Encourage thrift among members. To encourage saving habit, the cooperative currently offers two types of savings:-