Our Co-operative was registered officially as the Singapore Malay Guru's Co-operative Thrifts & Loan Society Limited on 7th September 1931 with an assets of S $15,000.00.

We had only 99 Malay teachers who were our members. Among the pioneers were Cikgu Jaafar Muhammad, Cikgu A Hamid Abdul, Cikgu Osman Hassan, Cikgu Jaafar A Ghani, Cikgu A Rahman Md Said, Cikgu Naya Harun and Cikgu Aman Ahmad.

The primary objective was to safeguard the economy of the Malay teachers by encouraging thrift and providing loans.

All our activities were carried out at a temporary office on the 5th floor of Fullerton Building until we shifted to our 1st office at Sekolah Melayu Kota Raja.