Question 1

What is Cooperativa del Sur?

Accepted Answer

Cooperativa del Sur (formally known as Cooperativa del Sur de Ahorro y Crédito Ltda., or COS) is a savings and credit cooperative based in Encarnación, Paraguay. It is a Type A cooperative specializing in financial services for its member-owners. The cooperative operates under the motto "El Apoyo que tu esfuerzo merece" (The support that your effort deserves) and serves the southern region of Paraguay, particularly the Department of Itapúa.

COS is regulated by the Instituto Nacional de Cooperativismo (INCOOP) and is a member of the Federation of Savings and Credit Cooperatives (FECOAC Ltda.).

Question 2

When was Cooperativa del Sur founded?

Accepted Answer

Cooperativa del Sur was founded on March 14, 1971, when it received authorization from the Executive Power of Paraguay. The cooperative originated from a branch of the Cooperativa Central that operated in Asunción and opened in Encarnación in early 1970.

The founding was led by Monsignor Luis Schneider, who oversaw social works for the Prelature of Encarnación under Monsignor Juan VonWinkel. Sixteen members of the Encarnación community, including notable figures Dr. José Gaspar Gómez Fleitas and Dr. Mario A. López Escobar, converted the branch into an independent cooperative. The cooperative began with modest capital of 225,000 Guaraníes, with furniture and equipment donated by the Prelature of Encarnación.

Question 3

Where is Cooperativa del Sur headquartered?

Accepted Answer

Cooperativa del Sur is headquartered in Encarnación, the capital city of the Itapúa Department in southeastern Paraguay. The cooperative inaugurated its current central office building in 1992, located on Juan León Mallorquín street in Encarnación.

This location positions the cooperative in Paraguay's third-largest city and a key commercial center near the Argentine border.

Question 4

Where does Cooperativa del Sur operate?

Accepted Answer

Cooperativa del Sur primarily operates in the southern region of Paraguay, with a focus on the Department of Itapúa and the city of Encarnación. The cooperative opened its first branch in the Barrio San Roque González neighborhood of Encarnación in 1997.

The cooperative serves its member-owners throughout the southern region, providing accessible financial services in both urban and surrounding communities.

Question 5

What services does Cooperativa del Sur offer?

Accepted Answer

Cooperativa del Sur offers comprehensive financial services to its member-owners, including:

Savings and Investment Products: Various savings accounts, term deposits, and capital contribution accounts for cooperative members.

Credit Products: Personal loans, consumer loans, mortgage loans, and loan services for members' financial needs.

Payment Services: Bill payment services for utilities such as ANDE (electricity), ESSAP (water), and other service providers.

Digital Banking: A mobile application developed by BROSCO S.A. that provides account balance inquiries, fund transfers between cooperative members, transfers via SIPAP to banks and vice versa, loan payments, contribution payments, and utility bill payments. The app features modern interface design, encrypted data transmission, and secure financial management tools.

Transfer Services: Inter-cooperative transfers with other cooperatives listed in the network, facilitating financial transactions across the cooperative sector.

Question 6

What makes Cooperativa del Sur unique?

Accepted Answer

Cooperativa del Sur distinguishes itself through its commitment to social responsibility and international cooperative principles. The cooperative is a member of the UN Global Compact (Pacto Global de las Naciones Unidas), which it joined in 2009, demonstrating its commitment to sustainable development and ethical business practices.

The cooperative has played a significant role in regional cooperative development, having participated in organizing the 3rd MERCOSUR Cooperatives Meeting in June 2005 in Encarnación and the 3rd Congress on Cooperative Education in MERCOSUR in July 2007 in Posadas, Argentina.

COS maintains strong integration with the broader cooperative movement through membership in multiple organizations including FECOAC Ltda., Red Enlace, CENSOSUR Paraguay Ltda., and Aseguradora Tajy SA. This network approach enhances its service offerings and strengthens its position in Paraguay's cooperative financial sector.

The cooperative emphasizes solidarity-based service delivery founded on the principles of self-help and mutual assistance, maintaining the universal values and principles of cooperativism throughout its operations.

Question 7

What type of financial institution is Cooperativa del Sur?

Accepted Answer

Cooperativa del Sur is a Cooperativa de Ahorro y Crédito (Savings and Credit Cooperative), classified as a Type A cooperative under Paraguayan law. In Paraguay, savings and credit cooperatives are member-owned financial institutions that provide banking services exclusively to their member-owners.

As a Type A cooperative, COS focuses specifically on savings mobilization and credit provision, operating under the regulatory framework established by INCOOP through Resolution N° 22668/2020 and related regulations. The cooperative structure means that members are both owners and users of the services, with governance based on democratic principles where each member has one vote regardless of their capital contribution.

This cooperative model is particularly significant in Paraguay, where the cooperative financial sector represents approximately 11.7% of the country's financial-banking sector, making Paraguay the third-largest cooperative finance market in Latin America.

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About Cooperativa del Sur in Paraguay