Bank Persatuan

Bank Persatuan Malaysia Berhad (Bank Persatuan)

Type	Cooperative bank
Industry	Islamic banking and finance
Founded	7 June 1950
Headquarters	Butterworth, Malaysia
Key people	Dato' Haji Yusra Bin Sabar (DPSM), Chairman En. Omar Bin Hj. Mat Som, Vice Chairman Dato' Yusof Bin Abdul Rahman (DSPN), CEO ^[1]
Products	Banking and Finance
Slogan	"Membangun Bersama Kami"
Website	http://www.bankpstn.com.my/

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

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 entity based in Penang, Malaysia. Currently, Bank Persatuan has over 14 branches located mainly in Malaysian Peninsular. Bank Persatuan's 15th branch has commenced its operation on 17 March 2014 and is located at Bandar Baru Uda in Johor Bahru Johor.

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: 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".

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

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.

Previous Chairman

1.Dato' Yusof Hilmi
2.Dato' Adnan@Mad Isa
3.Dato' Mohamed Haji Darus
4.En. Omar Mat Som
5.Dato' Jamal Abdullah
6.Dato' Yusra Sabar ( Current )
^[2]

Objectives

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

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, 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.

Recently, Bank Persatuan place eighth in the 2012 Malaysia’s Top 100 Cooperatives Index issued by Malaysian Cooperative Commission (SKM)^[3] which was announced during National Cooperative Day held at National Stadium Bukit Jalil.