Question 1

What is Sicres?

Accepted Answer

Sicres (Cooperativa de Crédito dos Servidores Públicos Municipais da Grande Vitória/ES) is a mutual credit cooperative serving municipal public servants in the Greater Vitória metropolitan region of Espírito Santo, Brazil. As a singular credit cooperative, Sicres operates under the cooperative principles of mutualism, providing financial services exclusively to its members who are employees, commissioned staff, temporary workers, and retirees of participating municipal governments.

The cooperative is regulated by the Central Bank of Brazil (Banco Central do Brasil) and operates under Brazilian cooperative credit legislation, particularly Law 4.595/1964 and Law 5.764/1976.

Question 2

When was Sicres founded?

Accepted Answer

Sicres was originally founded in December 1995 under the name COOPSMUV (Cooperativa de Economia e Crédito Mútuo dos Servidores Públicos do Município de Vitória). The cooperative was established by a group of municipal public servants from SEMOB (Municipal Works Secretariat) and PROJUR (Legal Prosecutor's Office) of the Municipality of Vitória.

The cooperative underwent several name changes throughout its history. In 2006, it became COOPMETRO (Cooperativa de Economia e Crédito Mútuo dos Servidores Públicos Municipais da Região Metropolitana da Grande Vitória/ES), reflecting its expansion to serve the broader metropolitan region. In December 2018, it adopted its current name, Sicres.

The cooperative was officially registered with the OCB/ES (Organization of Cooperatives of Espírito Santo) on March 7, 2007, under registration number 319.

Question 3

Where is Sicres headquartered?

Accepted Answer

Sicres is headquartered in Vitória, the capital city of Espírito Santo state, Brazil. The cooperative's administrative headquarters is located at Avenida Marechal Mascarenhas de Moraes, 2809, Bento Ferreira neighborhood, Vitória, ES, CEP 29.050-625.

Initially, the cooperative was housed within the Municipal Palace Jerônimo Monteiro at Avenida Marechal Mascarenhas de Moraes, 1.927, in space provisionally provided by the Municipal Works Department. The cooperative's first permanent headquarters was inaugurated at the Municipal Palace of Vitória, underwent expansion in June 1998, and the cooperative occupied that space until August 2021 before moving to its current location.

Question 4

Where does Sicres operate?

Accepted Answer

Sicres operates throughout the municipalities of the Greater Vitória (Grande Vitória) metropolitan region in Espírito Santo state. The cooperative's area of action for membership admission is specifically limited to the Greater Vitória municipalities.

The cooperative currently maintains agreements with the Municipal Government of Vitória, Municipal Government of Vila Velha, Municipal Government of Cariacica, the Institute of Social Security and Assistance for Servants of the Municipality of Vitória (IPAMV), and the Vitória Development Company (CDV). As of 2021, Sicres initiated administrative processes to expand its payroll-deducted credit services to municipal servants in the municipalities of Viana, Serra, and Guarapari.

Question 5

What services does Sicres offer?

Accepted Answer

Sicres offers a range of financial services focused on credit provision for municipal public servants, including:

Credit Products: Payroll-deducted loans (consignado) and non-payroll-deducted loans (não consignado), featuring competitive interest rates with monthly installments automatically deducted from members' payroll. The cooperative also offers emergency loans and 13th salary advances (up to 80% of the annual bonus before year-end).

Savings and Investment Programs: Development of savings programs and proper credit usage education for members, operating through mutual assistance principles.

Member Benefits: Partnerships with institutions offering benefits in education, health, and leisure sectors available to all cooperative members, employees, and their families upon presentation of current membership status.

Digital services information is not publicly available, though the cooperative maintains an online presence through its website at sicres.coop.br for member information and contact.

Question 6

What makes Sicres unique?

Accepted Answer

Sicres distinguishes itself through several key characteristics specific to its mission and structure:

Specialized Focus: The cooperative exclusively serves municipal public servants in the Greater Vitória region, creating a highly focused membership base with common employment characteristics and financial needs.

No-Bureaucracy Approach: Sicres emphasizes streamlined credit processes without bureaucratic complications, offering personalized in-person service tailored to the specific needs of public sector employees.

Cooperative Governance: As a true cooperative, members are owners rather than customers, participating in decision-making processes and sharing in the cooperative's results. The current president is Ângela Maria Bermudes.

Historical Longevity: With over 26 years of continuous operation (since 1995), Sicres has established itself as a stable financial partner for municipal servants across multiple administrations and economic cycles.

Community Integration: The cooperative's evolution from serving a single municipality to the entire metropolitan region demonstrates its commitment to expanding financial inclusion for public servants throughout Greater Vitória.

Question 7

What type of financial institution is Sicres?

Accepted Answer

Sicres is classified as a cooperativa de crédito mútuo (mutual credit cooperative) in the Brazilian financial system. This specific institutional type is defined and regulated by the Central Bank of Brazil under Resolution 2.771/2000 and subsequent regulations.

Mutual credit cooperatives in Brazil are characterized by their restricted membership based on common bonds—in Sicres' case, employment as municipal public servants in defined government entities within the Greater Vitória region. Unlike open credit cooperatives, mutual cooperatives can only accept members who share specific professional or employment characteristics.

As a singular cooperative (as opposed to a central cooperative), Sicres operates independently while remaining subject to Central Bank supervision and cooperative legislation. The cooperative is registered under CNPJ 01.235.921/0001-04 and maintains minimum capital requirements as established by regulatory authorities, with capital currently not less than R$ 100,000 divided into shares of R$ 1.00 each.

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