Bank Persatuan
Koperasi Bank Persatuan Malaysia Berhad (Jawi:کوڤيراسي بڠک ڤرساتوان مليسيا برحد) which is simply known as Bank Persatuan (Jawi:بڠک ڤرساتوان), is a cooperative banking
Cooperative banking
Cooperative banking is retail and commercial banking organized on a cooperative basis. Cooperative banking institutions take deposits and lend money in most parts of the world....

  entity based in Penang
Penang is a state in Malaysia and the name of its constituent island, located on the northwest coast of Peninsular Malaysia by the Strait of Malacca. It is bordered by Kedah in the north and east, and Perak in the south. Penang is the second smallest Malaysian state in area after Perlis, and the...

, Malaysia. Currently, Bank Persatuan has over 13 branches located mainly in Malaysian Peninsular with a branch opened in Kuala Lumpur
Kuala Lumpur
Kuala Lumpur is the capital and the second largest city in Malaysia by population. The city proper, making up an area of , has a population of 1.4 million as of 2010. Greater Kuala Lumpur, also known as the Klang Valley, is an urban agglomeration of 7.2 million...

 which commenced its operation on 14 September 2010. Bank Persatuan's 14th branch is expected to be open at Ayer Keroh
Ayer Keroh
Ayer Keroh is a town situated in the state of Malacca, Malaysia.The town is a major tourist spot of the state, apart from the old Malacca Town, due to its recent hosting of various interesting attractions. The Mini Malaysia and Mini ASEAN Park is situated in the town...

Malacca , dubbed The Historic State or Negeri Bersejarah among locals) is the third smallest Malaysian state, after Perlis and Penang. It is located in the southern region of the Malay Peninsula, on the Straits of Malacca. It borders Negeri Sembilan to the north and the state of Johor to the south...

 by December 2011.

Brief history

Bank Persatuan was originally established and officially registered as a cooperative company on 7 June 1950, under the Cooperative Company Ordinance (1948) which is currently known as the Cooperative Act (1993).

Its creation is the result of the merging of over 21 Village Cooperative Companies (Malay
Malay language
Malay is a major language of the Austronesian family. It is the official language of Malaysia , Indonesia , Brunei and Singapore...

: Syarikat Kerjasama Kampung) in Bukit Mertajam
Bukit Mertajam
Bukit Mertajam is the capital of Central Seberang Perai, Penang, Malaysia. It is commonly known as BM among its locals. It is located nearby Kulim, Kedah.-About:...

, Penang
Penang is a state in Malaysia and the name of its constituent island, located on the northwest coast of Peninsular Malaysia by the Strait of Malacca. It is bordered by Kedah in the north and east, and Perak in the south. Penang is the second smallest Malaysian state in area after Perlis, and the...

. During its early establishment the newly created cooperative is known as "The Province Wellesley Cooperative Banking Union Limited".

In 1971, the cooperative opened its membership to both individuals and cooperatives. By 1981 its changed its name to Bank Persatuan Kerjasama Seberang Perai Berhad and only in 1995, Bank Persatuan adopted its current name when it is changed to "Koperasi Bank Persatuan Malaysia Berhad" or can simply be called Bank Persatuan.

Notable events

During its establishment, Bank Persatuan's office was located at the building of "Pejabat Jabatan Kemajuan Kerjasama Bukit Mertajam" whereas its staff's salary was paid by the government. Bank Persatuan activities at that time remained focused on credit financing and supplies of agricultural inputs.

The merging of cooperative banks in 1954 led to the creation of "Bank Agung" which then changed to "Bank Kerjasama" in 1967 and later was known as "Bank Rakyat" in 1972. In 1971, "Lembaga Pertubuhan Peladang" (Planters' Organization Board) was established and all agricultural-based cooperative companies under Bank Persatuan were amalgamated
Consolidation (business)
Consolidation or amalgamation is the act of merging many things into one. In business, it often refers to the mergers and acquisitions of many smaller companies into much larger ones. In the context of financial accounting, consolidation refers to the aggregation of financial statements of a group...

 under "Lembaga Pertubuhan Peladang" administration. In that same year Bank Persatuan opened its membership to individual members.


  • To become leading National Islamic Cooperative Bank that reflects the achievement of cooperative movement in Malaysia.


  • To offer paramount investment
    Investment has different meanings in finance and economics. Finance investment is putting money into something with the expectation of gain, that upon thorough analysis, has a high degree of security for the principal amount, as well as security of return, within an expected period of time...

    -Business:*Turnover is sometimes a synonym for revenue , especially in European and South African usage.Services sold by a company during a particular period of time....

     and promote welfare
    Welfare refers to a broad discourse which may hold certain implications regarding the provision of a minimal level of wellbeing and social support for all citizens without the stigma of charity. This is termed "social solidarity"...

     and socio-economy of members.


    Malay language
    Malay is a major language of the Austronesian family. It is the official language of Malaysia , Indonesia , Brunei and Singapore...



1. Improve socio-economic level of members through banking activities and transactions.

2. Generate constant and dynamic profit to offer the best dividend
Dividends are payments made by a corporation to its shareholder members. It is the portion of corporate profits paid out to stockholders. When a corporation earns a profit or surplus, that money can be put to two uses: it can either be re-invested in the business , or it can be distributed to...

 turnover to members and increase payment of business alms
Alms or almsgiving is a religious rite which, in general, involves giving materially to another as an act of religious virtue.It exists in a number of religions. In Philippine Regions, alms are given as charity to benefit the poor. In Buddhism, alms are given by lay people to monks and nuns to...

Zakāt , one of the Five Pillars of Islam, is the giving of a fixed portion of one's wealth to charity, generally to the poor and needy.-History:Zakat, a practice initiated by Muhammed himself, has played an important role throughout Islamic history...


3. Accommodate members' social needs from profit earned such as death 'khairat', scholarship
A scholarship is an award of financial aid for a student to further education. Scholarships are awarded on various criteria usually reflecting the values and purposes of the donor or founder of the award.-Types:...

, welfare schemes, medical treatment, takaful
Takaful is an Islamic insurance concept which is grounded in Islamic muamalat , observing the rules and regulations of Islamic law. This concept has been practised in various forms for over 1400 years...

In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...

, etc.

Primary activities

1. Banking operation.

2. Finance operation.

3. Generate income from management fees and commissions
Commission (remuneration)
The payment of commission as remuneration for services rendered or products sold is a common way to reward sales people. Payments often will be calculated on the basis of a percentage of the goods sold...


4. Generate income from investment accounts.

5. Investment activities in published & unpublished shares and unit trust
Unit trust
A unit trust is a form of collective investment constituted under a trust deed.Found in Australia, Ireland, the Isle of Man, Jersey, New Zealand, South Africa, Singapore, Malaysia and the UK, unit trusts offer access to a wide range of securities....


6. Investment in land and building assets.

7. Housing and land development activities.


On 20 October 2008, Bank Persatuan has been presented with the 4 stars Cooperative Standards Certificate by former Ministry of Entrepreneurship
Entrepreneurship is the act of being an entrepreneur, which can be defined as "one who undertakes innovations, finance and business acumen in an effort to transform innovations into economic goods". This may result in new organizations or may be part of revitalizing mature organizations in response...

& Cooperative Development of Malaysia as recognition to Bank Persatuan's performance.

The ceremony was officiated by Y.B Dato' Saifuddin Abdullah, the then Deputy Minister of Ministry of Entrepreneurship & Cooperative Development (MECD). Receiving on behalf of Bank Persatuan was its Chairman, Dato' Haji Mohamed bin Haji Darus.

External links

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