Question 1

What is COOPEC Solidarité?

Accepted Answer

COOPEC Solidarité is a savings and credit cooperative operating in Lomé, Togo. As a member institution of the FUCEC-TOGO network, it forms part of the largest and oldest cooperative microfinance system in the country. COOPEC Solidarité serves individuals and groups by providing accessible financial services focused on savings mobilization and credit provision.

The cooperative operates under the regulatory framework of Togo's decentralized financial systems, supervised by the Ministry of Economy and Finance through the CAS-IMEC (Cellule d'Appui et Suivi des Institutions Mutualistes ou Coopératives d'Epargne et de Crédit).

Question 2

When was COOPEC Solidarité founded?

Accepted Answer

COOPEC Solidarité was officially authorized to operate on April 23, 2001, under ministerial decree number 075/MEFP/SG/CAS-IMEC. The cooperative received its official registration number T/1/GFLM/2001/0067A from the Ministry of Economy and Finance.

The institution was established as part of the broader expansion of the FUCEC-TOGO network, which has been operating in Togo since 1969. COOPEC Solidarité joined the network during a period of significant growth in cooperative microfinance across Togo in the early 2000s.

Question 3

Where is COOPEC Solidarité headquartered?

Accepted Answer

COOPEC Solidarité is headquartered in Lomé, the capital city of Togo. The institution maintains its main office in Lomé, where it serves members in the capital and surrounding areas.

As a member of the FUCEC-TOGO network, COOPEC Solidarité benefits from the central coordination and support services provided by the network's headquarters, also located in Lomé.

Question 4

Where does COOPEC Solidarité operate?

Accepted Answer

COOPEC Solidarité operates primarily in Lomé and the Greater Lomé area in the Maritime Region of Togo. As one of the 43 basic credit unions affiliated with the FUCEC-TOGO network, it serves urban and peri-urban populations in the capital region.

The cooperative focuses its services on the communities within Lomé, providing accessible financial services to neighborhoods that may be underserved by traditional banking institutions.

Question 5

What services does COOPEC Solidarité offer?

Accepted Answer

COOPEC Solidarité provides a comprehensive range of microfinance services typical of FUCEC-TOGO network members:

Savings Products: Members can open savings accounts, term deposits, and participate in specialized savings programs. The cooperative mobilizes funds from members through various deposit products.

Credit Services: The institution offers loans to both individual members and solidarity groups. Credit products include working capital loans, consumer credit, and financing for income-generating activities. Interest rates and terms are designed to be accessible to low and middle-income populations.

Member Services: As a cooperative, COOPEC Solidarité provides financial education and training to its members on topics including savings management, credit discipline, and basic financial literacy.

Digital Services: Through the FUCEC-TOGO network, members can access digital financial services including FUCEC Mobile for mobile banking transactions, inter-branch transfers, and connections to national payment systems.

Question 6

What makes COOPEC Solidarité unique?

Accepted Answer

COOPEC Solidarité's distinctiveness comes from its integration within the FUCEC-TOGO network, which provides several advantages:

Network Solidarity: As part of the largest microfinance network in Togo, members benefit from a solidarity system where excess liquidity from one cooperative can support lending in others. This ensures stability and access to funds even during periods of high demand.

Proven Track Record: Operating within a network that has served Togolese communities since 1969 provides credibility and institutional strength. The FUCEC-TOGO network manages over 192 billion FCFA in assets and serves more than 1.4 million members nationwide.

Community Focus: The cooperative model ensures that COOPEC Solidarité is owned and governed by its members, with decision-making structures that prioritize community needs over profit maximization.

Regulatory Compliance: The institution operates under full authorization from Togo's banking authorities and adheres to the regulatory standards established for decentralized financial systems in the WAEMU (West African Economic and Monetary Union) zone.

Question 7

What type of financial institution is COOPEC Solidarité?

Accepted Answer

COOPEC Solidarité is a Coopérative d'Epargne et de Crédit (Savings and Credit Cooperative), which is a specific type of decentralized financial system (Système Financier Décentralisé - SFD) recognized under Togolese and WAEMU microfinance regulations.

This institutional type is characterized by member ownership, democratic governance, and a mutual aid structure. Unlike commercial banks, cooperatives like COOPEC Solidarité are owned by their members who pool resources to provide financial services primarily to themselves and their communities. Members participate in governance through general assemblies and elected boards of directors.

As an SFD, it falls under the regulatory supervision of the Commission Bancaire de l'UMOA (WAEMU Banking Commission) and the national oversight of Togo's Ministry of Economy and Finance. This classification allows it to mobilize savings and extend credit within defined parameters while maintaining a community-based governance structure.

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