Question 1

What is Cooperativa San Francisco?

Accepted Answer

Cooperativa San Francisco is a savings and credit cooperative (COOPAC) operating in Peru. It is a not-for-profit financial institution dedicated to providing savings and lending services exclusively to its members.

With approximately 60,000 members and growing by around 900 new members each month, the cooperative serves communities primarily in the Huánuco region and surrounding areas. Registered with the Peruvian banking regulator (SBS) under registration number 000015-2019-REG.COOPAC-SBS, it operates as a Level 2 COOPAC with assets between 600 and 65,000 UIT (Unidad Impositiva Tributaria).

Question 2

When was Cooperativa San Francisco founded?

Accepted Answer

Cooperativa San Francisco was founded on April 12, 1964 in the Huánuco valley of Peru. The cooperative was established by a Franciscan priest named Eugenio Rojas Espinoza along with 98 pioneering members who pooled together an initial capital of S/ 32,600.00.

Originally recognized as "Cooperativa de Crédito San Francisco Ltda. Nº 289" through Resolution Nº 51 dated June 11, 1964, by the National Council of Cooperative Development. The cooperative is inscribed in folio Nº 121 of volume 1, entry 1 of the registry of associates at the Public Registry of Huánuco.

Under Decree Law Nº 85, its name was changed to Cooperativa de Ahorro y Crédito San Francisco Ltda. Nº 289, reflecting its expanded services to include both savings and credit operations.

Question 3

Where is Cooperativa San Francisco headquartered?

Accepted Answer

The cooperative's main office is located at Avenida Damaso Beraun Nro. 389 in Huánuco, Peru. Huánuco is situated in the central highlands of Peru, making it accessible to both urban and rural communities in the region.

The institution identifies strongly with its regional roots and maintains its commitment to serving the local community where it was founded over 60 years ago.

Question 4

Where does Cooperativa San Francisco operate?

Accepted Answer

Cooperativa San Francisco operates across multiple provinces in Peru's central and eastern regions. The cooperative has established a network of branches in key locations including:
• Huánuco (main office and special office at Plaza de Armas)
• Amarilis (permanent special office)
• Tingo María (branch office)
• Pucallpa (branch office)

The cooperative has expressed plans to expand its operations to additional provinces, with Lima identified as a priority due to the commercial needs of its members who have relocated to the capital city.

Question 5

What services does Cooperativa San Francisco offer?

Accepted Answer

Cooperativa San Francisco offers a comprehensive range of financial services tailored to its members:

Savings Products:
• Standard savings accounts (Cuenta de Ahorro)
• Programmed savings accounts (Ahorro Programado)
• Youth savings accounts (Cuenta de ahorro jóvenes)
• Fixed-term deposits (Depósito a plazo fijo)
• Children's savings program (Sanfra Kids)

Credit Products:
• Personal loans with flexible terms
• The ability to advance payments, amortize more, and cancel debts at any time without additional costs
• Rebate interest calculation method (intereses a rebatir)

Payment Services:
• Municipal tax payments (Impuestos Prediales)
• Vehicle registration fees (Matriculación Vehicular)
• Utility payments (electricity through EESA, water through EMAPA/EMAPAST)
• Telecommunications services (CNT fixed telephony, internet, television)
• School tuition payments (Pensiones Escolares)
• Credit card payments
• Tax payments (SRI/RISE)

Digital Services:
• Sanfra Móvil mobile app for checking balances and transaction history
• Online account management
• Network of ATMs for 24/7 access
• Correspondent banking through "Tu Amigo Sanfra" service points

Card Services:
• Visa debit cards for convenient access to funds

Question 6

What makes Cooperativa San Francisco unique?

Accepted Answer

Cooperativa San Francisco distinguishes itself as the only financial institution in its market that allows members to advance payments, make additional amortizations, and completely cancel their debts at any time without additional costs or penalties. This flexibility is a significant competitive advantage in the Peruvian financial sector.

The cooperative maintains interest rates below those of the local financial market, leveraging its not-for-profit cooperative structure to pass savings directly to members. Unlike banks that operate for shareholder profit, Cooperativa San Francisco is owned by its members.

With over 60 years of continuous operation and strong identification with its regional roots in Huánuco, the cooperative has built deep community ties and trust. Its rapid growth of approximately 900 new members monthly demonstrates strong member satisfaction and word-of-mouth reputation.

The institution operates under a member-centric philosophy, offering savings accounts that earn among the highest interest rates in the market without deducting fees, while simultaneously providing loans with competitive rates and small, manageable payment installments.

Question 7

What type of financial institution is Cooperativa San Francisco?

Accepted Answer

Cooperativa San Francisco is a Cooperativa de Ahorro y Crédito No Autorizada a Captar Recursos del Público (COOPAC), which translates to a Savings and Credit Cooperative Not Authorized to Collect Resources from the Public.

In Peru's financial system, COOPACs are member-owned cooperative financial institutions regulated by the Superintendencia de Banca, Seguros y AFP (SBS) through the Superintendencia Adjunta de Cooperativas (SACOOP). They differ from banks in that they operate exclusively with their members (socios cooperativos) and cannot capture deposits from or operate with non-members.

Cooperativa San Francisco is classified as a Level 2 COOPAC under Peru's modular regulatory scheme established by Law 30822. This classification applies to cooperatives with total assets greater than 600 UIT but less than or equal to 65,000 UIT. Level 2 status permits the cooperative to offer a broader range of operations than Level 1 institutions while being subject to more intensive supervision than smaller cooperatives.

As a cooperative, members are simultaneously owners and clients, with governance exercised through democratic participation. The cooperative is affiliated with FENACREP (Federación Nacional de Cooperativas de Ahorro y Crédito del Perú), the national federation of savings and credit cooperatives in Peru.

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About Cooperativa San Francisco in Peru