Question 1

What is Cooperativa de Ahorro y Crédito Juan XXIII?

Accepted Answer

Cooperativa de Ahorro y Crédito Juan XXIII (COOPAC Juan XXIII) is a savings and credit cooperative operating in Peru. It is a non-profit associative financial institution dedicated to capturing savings and providing loans exclusively to its cooperative members.

As a COOPAC, it operates under the supervision of the Superintendencia de Banca, Seguros y AFP (SBS) and is registered in the National Registry of COOPAC and Centrales. The cooperative is named after Pope John XXIII (Juan XXIII in Spanish), reflecting a tradition among Peruvian cooperatives to adopt names with religious or social significance.

Question 2

When was Cooperativa de Ahorro y Crédito Juan XXIII founded?

Accepted Answer

[Information not publicly available]

The specific founding date of COOPAC Juan XXIII has not been publicly disclosed. However, the institution is registered with the SBS as part of the formalization process that began in 2019 under Law No. 30822 (Ley COOPAC).

Question 3

Where is Cooperativa de Ahorro y Crédito Juan XXIII headquartered?

Accepted Answer

[Information not publicly available]

The specific headquarters location of COOPAC Juan XXIII within Peru has not been publicly disclosed in available sources.

Question 4

Where does Cooperativa de Ahorro y Crédito Juan XXIII operate?

Accepted Answer

COOPAC Juan XXIII operates in Peru, serving its cooperative members in accordance with the regulatory framework established by the SBS. As a COOPAC not authorized to capture resources from the public, it provides financial services exclusively within the boundaries defined by Peruvian cooperative law.

The institution operates under the modular supervision scheme established by Law No. 30822, which categorizes cooperatives into different levels based on their size, complexity, and risk profile.

Question 5

What services does Cooperativa de Ahorro y Crédito Juan XXIII offer?

Accepted Answer

As a savings and credit cooperative, COOPAC Juan XXIII offers core financial services to its members, including:

Savings Products: Cooperative members can open savings accounts and deposit funds, which are protected under the Fondo de Seguro de Depósitos Cooperativo (FSDC) for amounts up to S/10,000.

Credit Products: The cooperative provides various loan products to its members, supporting their financial needs and development goals.

Membership Services: As a cooperative, members are both owners and clients. They have voting rights in the cooperative's governance and can participate in decision-making processes.

All services are provided exclusively to cooperative members, as COOPACs are not authorized to capture resources from the general public under Peruvian law.

Question 6

What makes Cooperativa de Ahorro y Crédito Juan XXIII unique?

Accepted Answer

COOPAC Juan XXIII operates under Peru's distinctive cooperative framework, which emphasizes social inclusion and financial development over profit maximization. Several characteristics distinguish this institution:

Cooperative Ownership: Members are simultaneously owners, clients, and beneficiaries of the cooperative. Their deposits form part of the capital structure, creating a unique duality in the cooperative's liabilities and equity.

Regulatory Framework: The institution operates under the SBS's modular supervision system, implemented since January 2019. This framework respects cooperative principles while ensuring prudent risk management and protecting member savings.

Deposit Insurance: Member deposits are covered by the Fondo de Seguro de Depósitos Cooperativo (FSDC), providing protection of up to S/10,000 per member. This is separate from the Fondo de Seguro de Depósito (FSD) that covers traditional banks.

Social Mission: As a COOPAC, the institution prioritizes financial inclusion and the wellbeing of its members over profit generation, following the seven cooperative principles recognized internationally.

Question 7

What type of financial institution is Cooperativa de Ahorro y Crédito Juan XXIII?

Accepted Answer

Cooperativa de Ahorro y Crédito Juan XXIII is classified as a Cooperativa de Ahorro y Crédito No Autorizada a Captar Recursos del Público (COOPAC) under Peruvian law.

This designation indicates it is a savings and credit cooperative that is not authorized to capture deposits from the general public. COOPACs can only provide financial services to their registered members, who must become cooperative partners by contributing to the institution's capital.

COOPACs are distinct from other financial institutions in Peru such as banks, cajas municipales (municipal savings banks), and financieras (finance companies). They are governed by Law No. 30822 (enacted in 2018 and effective from January 1, 2019) and supervised directly by the Superintendencia de Banca, Seguros y AFP through its Superintendencia Adjunta de Cooperativas (SACOOP).

The cooperative operates under a modular supervision scheme that categorizes institutions into three levels based on total assets, with differentiated regulatory requirements for each level. This approach recognizes that COOPACs vary significantly in size, complexity, and operational capacity.

Cooperativa de Ahorro y Crédito Juan XXIII

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