Question 1

What is Sicoob Cooesa?

Accepted Answer

Sicoob Cooesa is a free admission credit cooperative serving the metropolitan region of Belém in the state of Pará, Brazil. Originally founded to serve state legislative employees, the cooperative has grown to provide comprehensive financial services to state public servants throughout the metropolitan area. As part of the Sicoob system, Cooesa emphasizes cooperative principles of solidarity, mutual assistance, and democratic governance.

Question 2

When was Sicoob Cooesa founded?

Accepted Answer

Sicoob Cooesa was founded on May 13, 1994, during a period of severe economic difficulty in Brazil marked by high inflation and wage freezes. Forty-two employees of the Legislative Assembly of Pará attended a lecture on credit cooperativism by Professor Valdecir Palhares in Belém, which inspired them to establish their own cooperative. The founding members were motivated to create an alternative to exploitative lending practices and the oppressive nature of traditional banking. The cooperative was originally named Cooesa - Cooperativa de Economia e Crédito Mútuo dos Servidores da Assembleia Legislativa do Estado do Pará Ltda. In 1998, Cooesa joined the Sicoob system as an affiliate of the then-Central de Cooperativas de Crédito do Pará (Sicoob Amazônia), and in 2015, affiliated with Sicoob Central Unicoob, enabling significant expansion of services.

Question 3

Where is Sicoob Cooesa headquartered?

Accepted Answer

Sicoob Cooesa is headquartered in Belém, Pará, at Avenida Generalíssimo Deodoro, 391. The cooperative has grown from a modest room provided by the Legislative Assembly to a comfortable headquarters in a prominent building in the central area of the state capital.

Question 4

Where does Sicoob Cooesa operate?

Accepted Answer

Sicoob Cooesa operates in the metropolitan region of Belém, Pará, serving state public servants and other eligible members throughout the area. The cooperative's service area focuses on the capital and surrounding municipalities, providing financial access to public sector employees and their communities.

Question 5

What services does Sicoob Cooesa offer?

Accepted Answer

Sicoob Cooesa provides a complete range of financial services including current accounts, savings accounts, credit cards, various credit lines, investments, private pensions, insurance products, consortium plans, and mobile banking services. After joining Sicoob Central Unicoob in 2015, the cooperative significantly expanded its service portfolio and adopted more sophisticated operational structures. Members benefit from access to the broader Sicoob network and digital banking platforms including the Sicoob mobile app and online banking.

Question 6

What makes Sicoob Cooesa unique?

Accepted Answer

Sicoob Cooesa's foundation story reflects the cooperative movement's core values of solidarity and self-determination, born from public servants' collective response to economic hardship. The cooperative has helped hundreds of members implement healthy financial management practices, enabling them to start businesses, purchase or renovate homes, and provide better education for their families. The institution's transformation from serving exclusively legislative employees to adopting a more complex structure after joining Sicoob Central Unicoob demonstrates its evolution while maintaining commitment to member welfare. Members participate democratically in governance and receive transparent, supportive financial services based on cooperative principles.

Question 7

What type of financial institution is Sicoob Cooesa?

Accepted Answer

Sicoob Cooesa is a cooperativa de crédito de livre admissão (free admission credit cooperative), though it maintains focus on state public servants in the metropolitan Belém region. As a non-bank financial institution, it operates within the Sistema de Cooperativas de Crédito do Brasil (Sicoob), regulated by the Central Bank of Brazil. The cooperative follows Brazilian cooperative credit legislation and benefits from affiliation with Sicoob Central Unicoob, providing access to broader system resources and banking infrastructure.

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About Sicoob Cooesa in Brazil