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Bank Persatuan Malaysia Berhad (Bank Persatuan)
Type Cooperative bank
Founded 7 June 1950
Headquarters Butterworth,
Malaysia Malaysia
Key people Dato' Mohamed Haji Darus, Chairman
Encik Azman Ahmad, General Manager
Industry Islamic banking and finance
Products Banking and Finance
Website http://www.bankpstn.com.my/

Koperasi Bank Persatuan Malaysia Berhad which is simply known as Bank Persatuan, is a cooperative banking entity based in Penang, Malaysia.

Front view of Bank Persatuan headquarters building in Taman Selat, Butterworth. Ground floor on the right is the Butterworth branch.

Its headquarters is located at 41, 43 & 45, Jalan Selat, Taman Selat, 12000 Butterworth, Penang. Currently, Bank Persatuan has over 12 branches located mainly in Malaysian Peninsular with a branch recently opened in Kuantan, Pahang. Bank Persatuan is expected to open its regional office in Kuala Lumpur by 2010.

Contents

Brief history

Bank Persatuan was originally established and officially registered as a cooperative company on the 7th day of 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: Syarikat Kerjasama Kampung) in Bukit Mertajam, Penang. 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 adopt 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 staffs' 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 co-operative 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 under "Lembaga Pertubuhan Peladang" administration. In that same year Bank Persatuan opened its membership to individual members.

Vision

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

Mission

  • To offer paramount investment turnover and promote welfare and socio-economy of members.

Motto

  • "PROGRESS WITH US" (Malay: MEMBANGUN BERSAMA KAMI)

Objectives

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

2. Generate constant and dynamic profit to offer the best dividend turnover to members and increase payment of business alms(zakat).

3. Accommodate members social needs from profit earned such as death 'khairat', scholarship, welfare schemes, medical treatment, takaful insurance and etc.

Primary activities

1. Banking operation.

2. Finance operation.

3. Generate income from management fees and commissions.

4. Generate income from investment accounts.

5. Investment activities in published & unpublished shares and unit trust.

6. Investment in land and building assets.

7. Housing and land development activities.

Achievements

On 20 October 2008, Bank Persatuan has been presented with the 4 stars Cooperative Standards Certificate by former Ministry of Entrepreneurship & Cooperative Development of Malaysia as recognition to Bank Persatuan's performance.

Dato' Haji Mohamed Haji Darus receiving the 4 Stars Cooperative Standards Certificate from Y.B Dato' Saifuddin Abdullah.
The 4 stars rated standard certificate given by former Ministry of Entrepreneurship & Cooperative Development of Malaysia to Bank Persatuan.

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.

Gallery

Internal links (see also)

External links

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