Bank Persatuan

Bank Persatuan is the former identity of Co-opbank Pertama, formally known as Koperasi Co-opbank Pertama Malaysia Berhad. It is a Malaysian cooperative banking institution headquartered in Penang and historically associated with the cooperative movement in Seberang Perai. The organization was registered on 7 June 1950 under the Cooperative Company Ordinance 1948, legislation that was later superseded by Malaysia's Cooperative Act 1993. The institution was created through the consolidation of more than 21 village cooperative companies in Bukit Mertajam, Penang. At formation, it operated under the name The Province Wellesley Cooperative Banking Union Limited. Its early office was located at the building of the local cooperative development department in Bukit Mertajam, and its employees' salaries were initially paid by the government. The institution's first activities centered on credit financing and the supply of agricultural inputs, reflecting the economic needs of the rural cooperative organizations that formed it. The organization went through several name and structural changes as Malaysia's cooperative banking sector developed. A merger of cooperative banks in 1954 resulted in the name Bank Agung. The institution later became Bank Kerjasama in 1967 and Bank Rakyat in 1972. In 1971, agricultural-based cooperative companies connected with Bank Persatuan were amalgamated under the administration of the Lembaga Pertubuhan Peladang, or Planters' Organization Board. The same period also marked a broadening of membership: membership was opened to individuals as well as cooperative organizations, rather than being limited to institutional cooperatives. In 1981, the organization adopted the name Bank Persatuan Kerjasama Seberang Perai Berhad. In 1995, it changed its formal name to Koperasi Bank Persatuan Malaysia Berhad, while continuing to be commonly identified as Bank Persatuan. The Bank Persatuan identity therefore represents both a long-running cooperative banking institution and a sequence of organizational and branding transitions within Malaysia's cooperative sector. A major rebranding took place in September 2018, when the organization changed its name to Co-opbank Pertama. The change formed part of a transformation and rebranding process intended to present the institution under a newer cooperative-bank identity. The former Bank Persatuan name remains important for historical reference and is the subject of the associated encyclopedia entry. Under its current Co-opbank Pertama identity, the institution has more than 35 branches and operates Ar-Rahnu outlets, mainly across Peninsular Malaysia. Its documented business heritage includes cooperative finance, credit services, agricultural-input support, and Islamic pawnbroking through Ar-Rahnu outlets. The organization is best understood as a domestic cooperative financial institution rather than a conventional listed commercial-bank brand. Publicly available reference material does not establish a stock-market listing, a separate corporate parent, or a global operating footprint.

Co-opbank Pertama, formerly known as Bank Persatuan, originated in the cooperative movement of Bukit Mertajam, Penang. More than 21 village cooperative companies joined together to establish the institution, which was officially registered on 7 June 1950 under the Cooperative Company Ordinance 1948. The ordinance later became part of the legislative history leading to Malaysia's Cooperative Act 1993. The new organization initially operated as The Province Wellesley Cooperative Banking Union Limited. Its first office was located at the premises of the cooperative development department in Bukit Mertajam. In its early years, the government paid the salaries of its staff, while the institution concentrated on practical support for the cooperative and agricultural economy. Its main activities included credit financing and the supply of agricultural inputs. The organization subsequently participated in a period of consolidation and renaming within Malaysia's cooperative banking sector. In 1954, a merger of cooperative banks led to the name Bank Agung. The institution later used the name Bank Kerjasama from 1967 and was known as Bank Rakyat from 1972. These names reflect the changing structure and institutional relationships of cooperative banking during the period, rather than a simple uninterrupted use of the Bank Persatuan brand. In 1971, the Lembaga Pertubuhan Peladang was established, and agricultural-based cooperative companies operating under Bank Persatuan were amalgamated under its administration. That year was also significant for membership policy. The cooperative opened membership to individuals as well as cooperative organizations, broadening its base beyond the village cooperatives that had originally created it. The institution adopted the name Bank Persatuan Kerjasama Seberang Perai Berhad in 1981. In 1995, it changed its formal name to Koperasi Bank Persatuan Malaysia Berhad, commonly shortened in public usage to Bank Persatuan. This period consolidated the Bank Persatuan identity as a cooperative banking name associated with Penang and the wider Malaysian cooperative sector. In September 2018, the organization adopted the name Co-opbank Pertama. The change was presented as part of a transformation and rebranding process. The new identity emphasizes the institution's cooperative-bank character, while Bank Persatuan remains the historical name used in reference materials. The current institution is based in Penang and has more than 35 branches together with Ar-Rahnu outlets, mainly in Peninsular Malaysia. Its documented activities connect its historical credit and agricultural-support role with contemporary cooperative banking and Islamic pawnbroking services. The available reference material does not identify individual executives, a listed ticker, an external corporate parent, or operations outside Malaysia.

• 2018

  Rebranded as Co-opbank Pertama

  [1]Bank Persatuanen.wikipedia.org

  In September 2018, the institution changed its name to Co-opbank Pertama as part of a transformation and rebranding process.

• 1995

  Bank Persatuan identity formalized

  [1]Bank Persatuanen.wikipedia.org

  The formal name became Koperasi Bank Persatuan Malaysia Berhad, commonly referred to as Bank Persatuan.

• 1981

  Name changed to Bank Persatuan Kerjasama Seberang Perai Berhad

  [1]Bank Persatuanen.wikipedia.org

  The organization adopted a name identifying it with the cooperative banking tradition of Seberang Perai.

• 1972

  Institution known as Bank Rakyat

  [1]Bank Persatuanen.wikipedia.org

  The organization was subsequently known as Bank Rakyat during the continuing evolution of Malaysia's cooperative banking institutions.

• 1971

  Membership expanded and agricultural cooperatives reorganized

  [1]Bank Persatuanen.wikipedia.org

  Membership was opened to individuals as well as cooperatives. Agricultural-based cooperative companies associated with Bank Persatuan were also amalgamated under the Lembaga Pertubuhan Peladang.

• 1967

  Name changed to Bank Kerjasama

  [1]Bank Persatuanen.wikipedia.org

  The cooperative banking institution adopted the name Bank Kerjasama.

• 1954

  Name changed to Bank Agung

  [1]Bank Persatuanen.wikipedia.org

  A merger of cooperative banks resulted in the organization being known as Bank Agung.

• 1950

  Cooperative banking union established

  [1]Bank Persatuanen.wikipedia.org

  More than 21 village cooperative companies in Bukit Mertajam, Penang, were consolidated, and the resulting organization was officially registered on 7 June 1950 as The Province Wellesley Cooperative Banking Union Limited.

A Malaysian cooperative banking institution with roots in rural finance, cooperative membership, agricultural support, and domestic community-oriented financial services.

• Banking and finance · 1950

  Cooperative credit financing

  Credit financing was one of the institution's original activities after its establishment in 1950. It served the cooperative organizations and communities that formed the institution and remains part of the documented heritage of the Bank Persatuan business.

• Agricultural cooperative services · 1950

  Agricultural-input support

  In its early period, Bank Persatuan combined financing with the supply of agricultural inputs. This activity reflected the needs of village cooperatives and the agricultural economy in Penang and surrounding areas.

• Islamic financial services

  Ar-Rahnu

  Ar-Rahnu is the institution's Islamic pawnbroking outlet format. Reference material identifies Ar-Rahnu outlets within the current Co-opbank Pertama network, which is concentrated mainly in Peninsular Malaysia.

• 2018

  Transformation and rebranding to Co-opbank PertamaStrategy

  Background

  The institution had operated under the Bank Persatuan identity after a long sequence of cooperative-sector names and formal corporate-name changes.

  Action taken

  In September 2018, it changed its name to Co-opbank Pertama as part of a transformation and rebranding process.

  Aftermath

  The organization continued as a Malaysian cooperative banking institution under the Co-opbank Pertama identity, while Bank Persatuan remained its historical name.

  Source

1. 1Bank Persatuanen.wikipedia.org