Wednesday, April 28, 2010

Bank Persatuan

If you have some extra money, where will you put it? In a fixed deposit account? Unit trust? ASB? Another alternative that we can consider is to buy the shares of Bank Persatuan.

Bank Persatuan is a cooperative banking entity based in Penang. It is a second coop bank, after Bank Rakyat. It is headquartered at 41, 43 & 45, Jalan Selat, Taman Selat, 12000 Butterworth, Penang. It has over 12 branches located mainly in Semenanjung Malaysia (Peninsular).

If you have missed the opportunity to invest in Bank Rakyat much earlier, you can still do it now with Bank Persatuan. For Klang Valley people, the branch is located at No 2, Jalan Tengku Ampuan Zabedah D9/D, Seksyen 9, Shah Alam. Just bring a photocopy of your MyKad and some money (minimum is RM500 to be a member, maximum is RM10,000). Their paid dividends were between 10%-12.5%; better than ASB and Tabung Haji.

For more info on their operations and activities, you can get here.

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