Koperasi Kakitangan UiTM Berhad (UitmKoop)

Discover how Koperasi Kakitangan UiTM Berhad (UitmKoop) is dedicated to empowering its members through a wide range of cooperative services. From personal loans to emergency financing and educational support, UitmKoop strives to uplift its community and foster financial resilience. Explore the diverse offerings tailored to meet the needs of members and their families, and embark on a journey towards financial well-being with UitmKoop.

The Objective

Koperasi Kakitangan UiTM Berhad (UiTMKoop) was established with a clear objective: to enhance the economic well-being of its members in line with cooperative principles. Beyond financial gains, the cooperative aims to support UiTM staff who are part of its membership, providing them with a network of activities and services aimed at promoting welfare and dependency.

Function

The cooperative operates primarily through the following activities:

• Credit: Providing financial assistance and credit facilities to members.
• User Services: Offering various services to cater to the needs of members.
• General Services: Administering services that benefit the cooperative and its members.

Principle

Membership in UiTMKoop adheres to the following principles:

• Voluntary and Open Membership: Membership is open to all eligible individuals who willingly join.
• Democratic Control: Decision-making within the cooperative is democratically controlled by its members.
• Economic Participation: Members actively engage in the economic activities of the cooperative.
• Autonomy and Freedom: The cooperative operates autonomously, free from external influence.
• Education and Training: Providing education and training opportunities to members to enhance their knowledge.
• Cooperation: Encouraging collaboration between cooperatives for mutual benefit.
• Community Care: Contributing to the welfare and development of the community.

Benefits

Members of UiTMKoop enjoy numerous benefits, including:

• Savings and Investment: Facilitating savings and investment opportunities for members.
• Financial Assistance: Extending loans for beneficial purposes, generating profits for members.
• Business Activities: Engaging in various business and trade activities, including consumer functions.
• Property Transactions: Facilitating transactions related to movable and immovable property.
• Investment Opportunities: Investing surplus funds in approved ventures.
• Joint Ventures: Participating in joint ventures with other cooperatives or private entities.
• Insurance Services: Offering insurance activities for both members and non-members.

Cooperative Membership

Eligibility and Requirements

Membership in Koperasi Kakitangan UiTM Berhad (UitmKoop) is available to:

• UiTM Staff: Including those on fixed paid salaries.
• Cooperative Staff: Encompassing employees within its subsidiaries.

Membership Requirements

To qualify for membership, individuals must meet the following criteria:

• Malaysian Citizenship: Applicants must be Malaysian citizens.
• Residency: Reside within the cooperative’s operational area.
• Clear Record: Applicants should have no criminal convictions.
• Mental Ability: Possess the mental capacity to engage in cooperative activities.

Application Process and Fees

Prospective members are required to:

• Submit Application: Complete the membership application form.
• Payment: Pay an entrance fee of RM 10.00 upon application.
• Former Members: Those reapplying for membership are subject to a fee of RM 50.00.

By meeting these requirements and completing the necessary steps, individuals can become valued members of Koperasi Kakitangan UiTM Berhad (UitmKoop), contributing to the cooperative’s mission and benefiting from its services and initiatives.

Consumer Financing (Goods)

Guarantor Requirement

Consumer Financing (Goods) through Koperasi Kakitangan UiTM Berhad (UitmKoop) necessitates a guarantor. Eligible members of the Cooperative must meet conditions set by the Cooperative to serve as guarantors for the financing.

Funding Eligibility

• Maximum Amount: The maximum loan amount is 25 months’ basic salary or RM150,000.00, whichever is less.
• Existing Deductions: Member’s existing deductions must not exceed 60% of their basic salary.
• Interest Rate: Interest rates are set at 4% and 5%.
• Maximum Financing: The highest financing available is RM 150,000.00.

By adhering to these eligibility criteria and conditions, members of Koperasi Kakitangan UiTM Berhad (UitmKoop) can access Consumer Financing (Goods) through UitmKoop, facilitating their personal financial needs while ensuring responsible borrowing and lending practices within the Cooperative.

Guaranteed Cash Financing

Guarantor Requirement

Guaranteed Cash Financing provided by Koperasi Kakitangan UiTM Berhad (UitmKoop) necessitates a guarantor. Eligible members of the UitmKoop Cooperative are required to serve as guarantors, subject to conditions stipulated by the Cooperative.

Eligibility

• Maximum Amount: The maximum loan amount is 25 months’ basic salary or RM150,000.00, whichever is less.
• Existing Deductions: Member’s existing deductions must not exceed 60% of their basic salary.
• Interest Rate: Interest rates are set at 4% and 5%.
• Maximum Financing: The highest financing available is RM 150,000.00.

By meeting these eligibility criteria and conditions, members can access Guaranteed Cash Financing through Koperasi Kakitangan UiTM Berhad (UitmKoop), facilitating their financial needs while ensuring responsible lending practices within the Cooperative.

Cash Financing 90% Contribution

No Guarantor Required

Cash Financing with a 90% Contribution from Koperasi Kakitangan UiTM Berhad (UitmKoop) does not necessitate a guarantor. However, the guarantee provided by UitmKoop is contingent upon the member’s contribution. This arrangement is subject to the conditions outlined by the cooperative.

Funding Eligibility

• Eligibility: Members can access financing equivalent to 90% of their total accumulated contribution.
• Interest Rates: Interest rates for this financing option are set at 4% and 5%.
• Calculation of Eligibility: The calculation is straightforward, with eligibility determined by multiplying the total contribution by 90%.

By adhering to these eligibility criteria and conditions, members can benefit from Cash Financing with a 90% Contribution, providing them with access to funds while leveraging their accumulated contributions within the UitmKoop cooperative structure.

IPT Loan

Koperasi Kakitangan UiTM Berhad (UitmKoop) offers IPT personal loans designed to support members or their dependents pursuing higher education. This financing option is available for those seeking to continue their studies at institutions of higher learning, subject to the cooperative’s established conditions.

Funding Eligibility

• Maximum Amount: Members can apply for financing of up to RM2,500.00 for IPT-related expenses.
• One-Time Application: Each member is eligible to apply once for one child only.
• Interest Rate: The interest rate for this IPT financing is set at 4% per annum.

Emergency Loan

In times of urgent financial need, Koperasi Kakitangan UiTM Berhad (UitmKoop) provides emergency loans to its members. The cooperative’s board has the authority to expedite the approval process for these loans, ensuring swift access to funds for members facing unforeseen circumstances.

Funding Limit

• Maximum Amount: Emergency loans from UitmKoop do not exceed RM1,000.00 per year per member.
• Approval Criteria: The approval of emergency loan applications is contingent upon tangible evidence supported by valid documents provided by the member.

By offering IPT loans and emergency financing, Koperasi Kakitangan UiTM Berhad (UitmKoop) aims to provide timely assistance to its members, enabling them to pursue educational opportunities and address urgent financial needs with ease.

Contact Koperasi Kakitangan UiTM Berhad (UitmKoop)

Koperasi Kakitangan UiTM
14, Jalan Lazuardi 7/29, Seksyen 7
40000 Shah Alam, Selangor

Tel: +603 5519 5912 +603 5510 4512 +603 5512 0689
Fax: +603 5513 0540

E-Mail: info@uitmkoop.com.my