Koperasi Co-opbank Pertama Malaysia Berhad or simply known as Co-opbank Pertama (CBP) is a cooperative organisation established on 7 June 1950. CBP was recognised as a Co-operative Bank by the Malaysia Co-operative Societies Commission in 2014.
Co-operative societies are based on the participation of members through the inclusion of shares. CBP membership consists of Individual Members and Cooperative Members.
As at 31 December 2022, the achievement of CBP membership shares is as follows :-
ORDINARY SHARES
TOTAL OF MEMBERSHIP
90,365
BALANCE OF SHARES
RM618.55 MILLION
PREFERENCE SHARES (iRCPS)
TOTAL OF MEMBERSHIP
768
BALANCE OF SHARES
RM116.66
ORDINARY SHARES
TOTAL OF MEMBERSHIP
1,201
BALANCE OF SHARES
RM14.59 MILLION
PREFERENCE SHARES (iRCPS)
TOTAL OF MEMBERSHIP
59
BALANCE OF SHARES
RM235.63 MILLION
TOTAL
MEMBERS
91,133
Note : iRCPS – Islamic Redeemable Convertible Preference Shares
Participation as a CBP member will provide the following advantages:
- COMPETITIVE DIVIDEND RETURNS.
The performance of the last 3 years of dividend payment rate by CBP is as follows :-YEAR SHARE DIVIDEND RATE iRCPS DIVIDEND RATE 2018 7.00% 6.20% 2019 5.50% 6.10% 2020 6.00% 6.70% 2021 6.10% 6.82% Note : CBP dividends do not need to undergo zakat.
The mandatory Zakat contributions have fallen and it has been confirmed by the The SHARIAH COMMITTEE of CBP has confirmed that dividends received by members are not obligatory for Zakat contribution. This is because Islam does not require the zakat obligation twice from the same property and haul after CBP pays business zakat for the haul of the financial year ending each year.
If a member keeps the dividend as a savings property until the next haul is sufficient, Zakat is obliged on the member's savings on the taklif and the responsibility of the members themselves for the subsequent hauls of zakat.
- ELIGIBLE TO APPLY FOR THE BENEFIT SCHEME PROVIDED.
The last 3 years of CBP relief payments are as follows :-BENEFIT YEAR 2018 (RM) 2019 (RM) 2020 (RM) 2021 (RM) Khairat Scheme
188,500.00 199,500.00 197,000.00 250,500.00 Hospital Allowance Scheme
840.00 1,020.00 475.00 610.00 Critical Illness Scheme
100.00 475.00 - 200.00 General Assistance Scheme
1,900.00 2,000.00 800.00 1,300.00 Scholarship Scheme
5,850.00 3,300.00 1,700.00 15,700.00 20 Years Consolation Scheme
171,000.00 - - 251,400.00 Total
368,190.00 206,295.00 199,975.00 519,710.00
The minimum entry of shares is RM1,000.00 and maximum is RM5,000,000.00 starting 01 January 2023.
Individual Membership is open to:-
- Malay; Or
- Muslim; Or
- Bumiputera of Sabah and Sarawak.
Membership Conditions:-
- Malaysian citizen;
- Aged 18 years and above;
- Free from criminal offense;
- Mentally capable;
- Not bankrupt;
- Not removed from membership of any co-operative within 1 year.
If you are interested, please download and fill in the following forms.
Minimum entry of shares is RM5,000.00 and maximum is not more than 20% balance of CBP share starting 01 January 2023.
Co-operative Membership is open to:-
- Co-operative societies registered under the Co-operative Societies Act 1993;
- The cooperative members must be made up of 90% Malays or Bumiputera Muslims in Sabah and Sarawak.
Each application to become a member shall be made in the membership application form with the following documents attached:-
- Copy of co-operative registration certificate.
- A co-operative by-laws.
- List of names and particulars of members of the co-operative board (Name, No K/P, Address, Co-operative Post).
- Extract of the minutes of the co-operative general meeting that approves the limits of investment funded by excessive co-operative money.
- Extract of minutes of meetings of co-operative board members who agreed to apply to become Co-opbank Pertama Board Member.
If you are interested, please download and fill in the following forms.