Malaysia is for those who are ready to be a part of something bigger than themselves – for those who are ready to help make a better future. That’s why we have cooperatives – they offer fascinating opportunities to connect with others in need and take concrete steps towards the bigger, more inclusive future we all deserve.
In this article, we share our insights on how cooperatives work on the ground in Malaysia, how you can become part of one yourself, and what kinds of bonds you develop through cooperation. This may not quite the “big business” but it is important nonetheless! It’s also worth pointing out that sharing starts at home – after all, it’s what families do every day without realizing it.
1. What are cooperatives?
Cooperatives are businesses owned by their workers and run for their benefit. They offer both extensive benefits to its members (such as equity in return for labour) and to society as a whole – it is not just “for your own good”, but also for what you can give to society and benefit others in the process.
2. What are the advantages of joining a cooperative?
It’s no secret that cooperatives are more than businesses, they’re about people and what they can do for each other, and together for society.
3. What are the different types of cooperatives?
In Malaysia there is a wide spectrum of cooperatives – for instance:
These cooperatives are run by members like you. Some cooperate units have their own bank account. For example, in Malaysia, the Cooperative Bank Berhad (CO-OP Bank) was established to serve the expanding needs of member cooperatives and to provide professional banking services at a competitive price to all cooperative members.