Question 1

What is Krediet Koöperatie L.V.V. G.A.?

Accepted Answer

Krediet Koöperatie L.V.V. G.A. is a credit union operating in Suriname that provides savings and lending services to its members. It is one of several credit unions supervised by the Centrale Bank van Suriname under the Banking and Credit System Supervision Act 2023.

The institution operates on a cooperative basis, meaning it is owned and democratically controlled by its members rather than external shareholders. L.V.V. likely stands for "Landbouw, Veeteelt en Visserij" (Agriculture, Livestock and Fisheries), suggesting an affiliation with the Surinamese government ministry of the same name.

Question 2

When was Krediet Koöperatie L.V.V. G.A. founded?

Accepted Answer

[Information not publicly available]. The exact founding date of Krediet Koöperatie L.V.V. G.A. has not been documented in publicly accessible sources.

However, the credit union has been listed in the Centrale Bank van Suriname's registry of supervised credit institutions since at least 2021, indicating it has been operating for several years under regulatory oversight.

Question 3

Where is Krediet Koöperatie L.V.V. G.A. headquartered?

Accepted Answer

Krediet Koöperatie L.V.V. G.A. is headquartered in Paramaribo, the capital city of Suriname. The institution's office is located at Letitia Vriesdelaan 4, Paramaribo.

This address places it on the same street as the Ministry of Agriculture, Livestock and Fisheries (Ministerie van LVV), which is headquartered at Letitia Vriesdelaan 8-10.

Question 4

Where does Krediet Koöperatie L.V.V. G.A. operate?

Accepted Answer

Krediet Koöperatie L.V.V. G.A. operates in Paramaribo, Suriname. As a credit union with a specialized membership base, its operations are focused on serving its member community in the capital district.

[Information not publicly available] regarding any additional branches or service locations beyond the headquarters address.

Question 5

What services does Krediet Koöperatie L.V.V. G.A. offer?

Accepted Answer

Krediet Koöperatie L.V.V. G.A. provides core credit union services including savings accounts and credit facilities to its members. As a cooperative financial institution, it collects deposits from members and extends loans based on the pooled resources of the membership.

Members pay an entrance fee to join the cooperative, which grants them ownership rights and the ability to participate in the democratic governance of the institution. [Information not publicly available] regarding specific loan products, interest rates, or digital banking capabilities.

Question 6

What makes Krediet Koöperatie L.V.V. G.A. unique?

Accepted Answer

Krediet Koöperatie L.V.V. G.A. appears to be affiliated with the Surinamese Ministry of Agriculture, Livestock and Fisheries, as evidenced by its name and location. This likely means it serves employees of the ministry and possibly related agricultural sector workers.

Unlike commercial banks that operate for profit, this credit union operates on cooperative principles of mutual aid and solidarity. Members are simultaneously owners and customers, and any surplus generated is typically returned to members through better rates or improved services rather than distributed to external shareholders.

Question 7

What type of financial institution is Krediet Koöperatie L.V.V. G.A.?

Accepted Answer

Krediet Koöperatie L.V.V. G.A. is a credit union (spaar- en kredietcoöperatie in Dutch). In Suriname, credit unions are classified as credit institutions and are supervised by the Credit Union Supervision Department of the Centrale Bank van Suriname.

Credit unions in Suriname must be established as cooperative associations under the Cooperative Associations Act 2017 and must obtain a license from the central bank to operate. They are subject to the same regulatory framework and supervision as banks, including compliance with the Banking and Credit System Supervision Act 2023 and anti-money laundering legislation.

Question 8

How is Krediet Koöperatie L.V.V. G.A. regulated?

Accepted Answer

Krediet Koöperatie L.V.V. G.A. is supervised by the Centrale Bank van Suriname (CBvS) under the Banking and Credit System Supervision Act 2023. The CBvS maintains a list of supervised credit institutions that is published annually in the National Gazette of the Republic of Suriname.

As a licensed credit union, the institution must comply with prudential requirements, maintain adequate capital reserves, and undergo both off-site monitoring and on-site inspections by the central bank's Credit Union Supervision Department. The regulatory framework follows Basel Core Principles and includes provisions for recovery and resolution in case of financial distress.

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