Sicoob Vale do Aço

Sicoob Vale do Aço is a credit cooperative operating in the Vale do Aço (Steel Valley) region of Minas Gerais, Brazil. As part of the Sicoob System (Sistema de Cooperativas de Crédito do Brasil), one of the largest cooperative credit systems in Latin America, it operates as a singular cooperative providing comprehensive financial services to its member-owners. Unlike traditional banks, Sicoob Vale do Aço is a not-for-profit entity where members are both owners and clients, participating democratically in decisions and sharing in the financial results.

The cooperative was formed through the merger of two successful regional cooperatives: Coopeco (Cooperativa de Crédito dos Empregados da Usiminas) and Açocredi (Cooperativa de Crédito dos Comerciantes de Timóteo). This consolidation created a larger, stronger institution that combines the traditions of regional cooperativism with modern banking infrastructure.