Question 1

What is Cooperativa Asunción?

Accepted Answer

Cooperativa Asunción is a savings and credit cooperative (Cooperativa de Ahorro y Crédito Abierta) operating in Bolivia. It is classified as an "abierta" or open cooperative, meaning it can offer financial services to the general public and operates under the supervision of Bolivia's Autoridad de Supervisión del Sistema Financiero (ASFI). The cooperative specializes in providing accessible financial services to communities in mining regions and rural areas, particularly serving populations with limited access to traditional banking.

Question 2

When was Cooperativa Asunción founded?

Accepted Answer

Cooperativa Asunción was founded on March 28, 1963 in Llallagua, Bustillo Province, Potosí Department. The cooperative was established by 103 founding members under the leadership of Emilio Butron, who served as the first president. The institution was formed with the guidance and support of Reverend Father Gaetano Giguierez at the parish house located in Plaza 6 de Agosto.

On March 20, 1965, the cooperative held its first official assembly with authorization from the National Federation of Savings and Credit Cooperatives, marking a significant milestone in its institutional development. The founding committee included notable members such as R.P. Gaetano Giguierez, Juan Lizarraga, Froilan Saches, Claudio Arias, Oscar Morales, and several others who helped shape the cooperative's early operations.

Question 3

Where is Cooperativa Asunción headquartered?

Accepted Answer

The cooperative's central office (Oficina Central) is headquartered at Plaza 6 de Agosto No. 31 y 32 in Llallagua, Potosí Department, Bolivia. This location holds historical significance as it was the site of the parish house where the cooperative was originally founded in 1963.

Question 4

Where does Cooperativa Asunción operate?

Accepted Answer

Cooperativa Asunción operates primarily in the mining regions of central and western Bolivia, with a focus on serving communities in Potosí and Oruro departments. The cooperative maintains multiple agencies across strategic locations:

Oruro Department:
• Agencia Oruro: Calle Pagador No. 5475 entre Herrera y Montesinos
• Agencia Huanuni: Avenida 16 de Julio S/N

Potosí Department:
• Oficina Central Llallagua: Plaza 6 de Agosto
• Agencia San Pedro de Buena Vista: Calle Sucre S/N

Cochabamba Department:
• Agencia La Cancha: Calle 25 de Mayo No. 818, Zona Central entre Av. Aroma y C/Brasil

This geographic distribution reflects the cooperative's commitment to serving mining communities and rural populations throughout Bolivia's highland regions.

Question 5

What services does Cooperativa Asunción offer?

Accepted Answer

As a licensed savings and credit cooperative, Cooperativa Asunción offers a range of financial services including:

Savings Products:
• Savings accounts (Caja de Ahorro)
• Fixed-term deposits (Depósitos a Plazo Fijo)

Credit Services:
• Personal loans
• Microfinance credits
• Business financing
• Consumer credits

Additional Services:
• Payment services and bill payments
• Money transfers between branches
• Financial education programs for members

The cooperative operates with ASFI License of Functioning 27/2020, ensuring compliance with Bolivian financial regulations and consumer protection standards.

Question 6

What makes Cooperativa Asunción unique?

Accepted Answer

Cooperativa Asunción distinguishes itself through its deep roots in Bolivia's mining communities and its commitment to financial inclusion in underserved regions. Founded during a period when traditional banks excluded working-class populations, the cooperative has maintained its social mission for over 60 years.

The institution's Catholic parish origins reflect the broader cooperative movement in Bolivia, which emerged in the 1960s as a response to predatory lending practices and banking exclusion. Operating in challenging geographic terrain and serving populations with limited financial literacy, the cooperative has adapted its services to meet the specific needs of mining workers, rural families, and small entrepreneurs.

The cooperative's democratic governance structure ensures that each member has equal voting rights regardless of their deposit size, embodying the principle of "one member, one vote" that distinguishes cooperatives from commercial banks.

Question 7

What type of financial institution is Cooperativa Asunción?

Accepted Answer

Cooperativa Asunción is classified as a Cooperativa de Ahorro y Crédito Abierta (Open Savings and Credit Cooperative) in Bolivia's financial system. This designation means it is a member-owned, not-for-profit financial institution that operates under the cooperative model while being authorized to serve the general public.

As an "abierta" cooperative, it is subject to comprehensive supervision by ASFI, Bolivia's financial regulatory authority. This distinguishes it from "societarias" (closed cooperatives), which serve only their members. Open cooperatives in Bolivia must meet stringent capital requirements, governance standards, and consumer protection regulations similar to banks and other financial intermediaries.

The cooperative model prioritizes member benefits over shareholder profits, with surplus earnings either reinvested in improved services or distributed to members as dividends. This structure has made cooperatives vital instruments of financial inclusion throughout Bolivia, particularly in regions where commercial banks have limited presence.

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About Cooperativa Asunción in Bolivia