Question 1

What is CREACOOP?

Accepted Answer

CREACOOP (Cooperativa de Ahorro y Crédito de los Trabajadores del Banco de Credito del Perú Ltda) is a workers' credit union serving employees of Banco de Crédito del Perú (BCP), Peru's largest bank, and its subsidiary Mibanco. As a closed-bond cooperative, CREACOOP provides financial services exclusively to BCP employees, Mibanco employees, and their direct family members.

The cooperative is regulated by the Superintendencia de Banca, Seguros y AFP (SBS) and operates under Peru's cooperative financial framework. With over 60 years of service and more than 500 members, CREACOOP has established itself as a trusted financial institution within the BCP employee community.

Question 2

When was CREACOOP founded?

Accepted Answer

CREACOOP was founded on March 15, 1962, making it one of the older employee credit unions in Peru's banking sector. The cooperative was established by BCP employees who sought to create a mutual aid organization to support their colleagues' financial needs.

The cooperative has maintained continuous operations for over six decades, adapting to changes in Peru's financial system while remaining focused on serving BCP's workforce.

Question 3

Where is CREACOOP headquartered?

Accepted Answer

CREACOOP is headquartered in Jesús María, Lima, Peru. The office is located at Jr. Huáscar Nro. 2179 in the Jesús María district.

This location in Lima's central area provides convenient access for BCP employees working in the capital city, where the bank's headquarters and many of its operations are located.

Question 4

Where does CREACOOP operate?

Accepted Answer

CREACOOP operates primarily in Lima, Peru, serving BCP and Mibanco employees throughout the country. While the physical office is in Jesús María, the cooperative's membership base extends to BCP employees nationwide.

Given BCP's extensive network of over 8,340 points of contact across Peru, CREACOOP's potential membership includes bank employees from multiple regions. However, service delivery is centralized through the Lima office, often utilizing payroll deduction arrangements with BCP.

Question 5

What services does CREACOOP offer?

Accepted Answer

CREACOOP provides a range of financial services tailored to BCP and Mibanco employees:

Savings Products: Members can maintain savings accounts and fixed-term deposits (depósitos a plazo fijo) with competitive interest rates. The cooperative encourages systematic saving among bank employees.

Credit Products: The cooperative offers several loan products, including the "Crédito a Sola Firma" (signature-only loan), which allows members to borrow against their savings and contributions without requiring guarantors. Loans feature a 0.80% monthly interest rate and immediate disbursement.

Digital Services: CREACOOP provides online services through its website, including loan applications via email, making it convenient for members to access services remotely.

Member Benefits: As a cooperative, members benefit from democratic governance, favorable loan terms, and the ability to build their financial assets through systematic contributions deducted directly from their BCP payroll.

Question 6

What makes CREACOOP unique?

Accepted Answer

CREACOOP's defining characteristic is its exclusive service to Peru's largest bank's employees. This creates a unique situation where bank employees—who work in the financial services industry—are also members of their own cooperative financial institution.

The cooperative's signature loan product (Crédito a Sola Firma) demonstrates innovation in serving members, allowing borrowing without traditional guarantors by leveraging members' savings and contributions. This streamlined approach reflects the cooperative's deep trust in its member base.

With over 60 years of history, CREACOOP has built a strong legacy within BCP's employee community, serving multiple generations of bank workers. The institution combines the stability of serving employees of Peru's largest bank with the personal touch and member focus of a cooperative.

Question 7

What type of financial institution is CREACOOP?

Accepted Answer

CREACOOP is classified as a Cooperativa de Ahorro y Crédito (COOPAC), which is a credit union or savings and credit cooperative in Peru's financial system.

It is specifically a closed-bond or restricted membership cooperative, serving exclusively employees of Banco de Crédito del Perú and Mibanco, along with their direct family members. COOPACs are regulated by the SBS under Law No. 26702 (General Law of the Financial and Insurance System) and Law No. 30822 (Law that Regulates Credit Unions). As a member-owned, democratically-controlled institution, CREACOOP operates on cooperative principles to provide financial services that benefit its members rather than external shareholders.

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About CREACOOP in Peru