Question 1

What is FENACOVAC Ltda.?

Accepted Answer

FENACOVAC Ltda. is a cooperative federation operating in Paraguay. As indicated by its full legal designation "FENACOVAC Ltda. C.M.A.C.P.Con.S." (Cooperativa Multiactiva de Ahorro y Crédito, Producción, Consumo y Servicios Limitada), it functions as a multiactive cooperative organization providing savings and credit, production, consumption, and service functions.

The institution operates within Paraguay's well-established cooperative sector, which represents approximately 11.7% of the country's financial-banking sector and ranks third in Latin America for cooperative financial services penetration.

Question 2

When was FENACOVAC Ltda. founded?

Accepted Answer

[Information not publicly available]

Question 3

Where is FENACOVAC Ltda. headquartered?

Accepted Answer

The specific headquarters location for FENACOVAC Ltda. is not publicly available. The institution operates within Paraguay's cooperative framework under the supervision of the Instituto Nacional de Cooperativismo (INCOOP).

Question 4

Where does FENACOVAC Ltda. operate?

Accepted Answer

FENACOVAC Ltda. operates within Paraguay. As a cooperative federation, it likely serves member cooperatives and their associates across multiple departments within the country, though specific regional coverage details are not publicly documented.

Question 5

What services does FENACOVAC Ltda. offer?

Accepted Answer

As a multiactive cooperative federation designated as C.M.A.C.P.Con.S., FENACOVAC Ltda. provides a range of services including:

Financial Services: Savings and credit facilities for members, operating outside the regulatory framework of the Central Bank of Paraguay but under INCOOP supervision.

Production Support: Services related to production activities, supporting cooperative members' economic endeavors.

Consumption Services: Consumer-oriented services for cooperative members.

Additional Services: Various support functions typical of cooperative federations in Paraguay.

Question 6

What makes FENACOVAC Ltda. unique?

Accepted Answer

FENACOVAC Ltda. operates as part of Paraguay's constitutionally protected cooperative system, which enjoys significant autonomy and independence enshrined in the nation's Constitution.

The institution benefits from favorable tax treatment, as Paraguayan cooperatives do not pay taxes on their usual activities with members, providing a comparative advantage over traditional banking institutions.

As a cooperative federation, FENACOVAC Ltda. likely plays an integration role within Paraguay's three-tiered cooperative structure (cooperatives, federations/centrales, and confederations).

Question 7

What type of financial institution is FENACOVAC Ltda.?

Accepted Answer

FENACOVAC Ltda. is a Cooperative Federation (second-tier cooperative organization) in Paraguay's cooperative system. In Paraguay, cooperatives are classified separately from traditional banks and are regulated by INCOOP rather than the Central Bank of Paraguay.

The "C.M.A.C.P.Con.S." designation indicates it is a multiactive cooperative, meaning it can engage in multiple cooperative activities including savings and credit, production, consumption, and services. This multiactive structure is common in Paraguay's cooperative sector and allows for integrated service delivery to members.

Question 8

What regulatory framework governs FENACOVAC Ltda.?

Accepted Answer

FENACOVAC Ltda. operates under Paraguay's cooperative legal framework, primarily governed by Law 438/1994 (Ley de Cooperativas) as modified by Law 5501/2015 and Law 2157/2003. The institution is supervised by the Instituto Nacional de Cooperativismo (INCOOP), which is the designated regulatory and supervisory authority for Paraguayan cooperatives.

INCOOP Resolution 30150/2024 provides the current typification and sectorization of cooperatives in Paraguay. Cooperatives in Paraguay maintain independence and autonomy as enshrined in the Constitution, operating under a framework that promotes cooperative development as a national priority.

Unlike traditional financial institutions, Paraguayan cooperatives with savings operations below certain thresholds are not supervised by the Central Bank's Superintendencia de Bancos (SIB), maintaining their distinct regulatory pathway through INCOOP.

FENACOVAC Ltda.

in Paraguay 🇵🇾

Crypto-Friendliness

All done!

About FENACOVAC Ltda. in Paraguay