Question 1

What is Cooperativa de Ahorro y Crédito Juan XXIII Ltda. 508?

Accepted Answer

Cooperativa de Ahorro y Crédito Juan XXIII Ltda. 508 is a savings and credit cooperative operating in Peru. It is a member-based financial institution that provides savings and credit services exclusively to its cooperative members (socios cooperativos).

The cooperative operates under the supervision of Peru's Superintendencia de Banca, Seguros y AFP (SBS), which began supervising COOPACs (Cooperativas de Ahorro y Crédito No Autorizadas a Captar Recursos del Público) in 2019 under Law 30822. As a Level 2 COOPAC, Juan XXIII Ltda. 508 represents a mid-sized cooperative with moderate complexity in its operations.

Question 2

When was Cooperativa de Ahorro y Crédito Juan XXIII Ltda. 508 founded?

Accepted Answer

The cooperative was officially registered with the SBS on February 18, 2019, under registration number 000105-2019-REG.COOPAC-SBS. This registration date corresponds to when mandatory registration became required under Law 30822, which granted the SBS supervisory authority over all COOPACs in Peru.

While the exact founding date predates this registration, the cooperative's formal recognition under the current regulatory framework began in 2019. The cooperative is identified by RUC number 20147276398.

Question 3

Where is Cooperativa de Ahorro y Crédito Juan XXIII Ltda. 508 headquartered?

Accepted Answer

The cooperative is headquartered in Cusco, in the Cusco region of Peru. Cusco is located in the southern sierra of Peru and serves as an important economic and cultural center in the Andean region.

This location distinguishes it from another cooperative with a similar name, COOPAC Juan XXIII (without the "Ltda. 508" designation), which is headquartered in Lima.

Question 4

Where does Cooperativa de Ahorro y Crédito Juan XXIII Ltda. 508 operate?

Accepted Answer

The cooperative primarily operates in the Cusco region of Peru. As a savings and credit cooperative, it serves the local communities within its geographic area, focusing on providing financial services to members in this Andean region.

The cooperative's operations are concentrated in areas where its members reside and conduct their economic activities. This localized approach aligns with the cooperative model of serving specific communities and member groups.

Question 5

What services does Cooperativa de Ahorro y Crédito Juan XXIII Ltda. 508 offer?

Accepted Answer

As a Level 2 COOPAC under Peru's modular supervisory scheme, Cooperativa de Ahorro y Crédito Juan XXIII Ltda. 508 offers a range of financial services to its members, including:

Savings products: Various deposit accounts exclusively for cooperative members, allowing them to save and earn returns on their deposits.

Credit services: Loans to cooperative members for personal, family, and business purposes, following SBS credit risk management regulations.

Additional Level 2 services: Compensation for Time of Service (CTS) deposits, guarantees and bonds for members, leasing and real estate capitalization operations, and the ability to purchase loan portfolios from other cooperatives or financial entities (provided debtors become members).

The cooperative cannot offer services to the general public and must limit all financial operations to its registered members, in accordance with COOPAC regulations.

Question 6

What makes Cooperativa de Ahorro y Crédito Juan XXIII Ltda. 508 unique?

Accepted Answer

Cooperativa de Ahorro y Crédito Juan XXIII Ltda. 508 operates under the distinctive cooperative model, which differentiates it from traditional banks in several ways:

Member-owned structure: The cooperative is owned and democratically controlled by its members, who are both customers and owners. This means decisions are made based on member interests rather than profit maximization for external shareholders.

Mutual benefit focus: As a cooperative, its primary objective is to generate well-being for its members by providing accessible financial services, rather than maximizing profits.

Regional specialization: Located in Cusco, the cooperative serves local communities in Peru's Andean region, understanding the specific financial needs and economic dynamics of this area.

Regulatory framework: Operating as a Level 2 COOPAC under Law 30822 means the cooperative is subject to proportionate regulation that recognizes its size and complexity while ensuring prudent risk management and member protection.

Question 7

What type of financial institution is Cooperativa de Ahorro y Crédito Juan XXIII Ltda. 508?

Accepted Answer

Cooperativa de Ahorro y Crédito Juan XXIII Ltda. 508 is classified as a Cooperativa de Ahorro y Crédito No Autorizada a Captar Recursos del Público (COOPAC) in Peru. Specifically, it is a Level 2 COOPAC under the modular supervisory scheme established by Law 30822.

COOPACs are cooperative financial institutions that differ from traditional banks in that they are associative entities without profit-seeking goals. They can only capture deposits from and extend credit to their cooperative members, not the general public.

The Level 2 classification indicates that the cooperative has moderate size and complexity, falling between small community-based Level 1 cooperatives and larger, more complex Level 3 cooperatives. This classification determines the range of operations the cooperative can perform and the regulatory requirements it must meet under SBS supervision.

Cooperativa de Ahorro y Crédito Juan XXIII Ltda. 508

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About Cooperativa de Ahorro y Crédito Juan XXIII Ltda. 508 in Peru