Question 1

What is Coopemep R.L.?

Accepted Answer

Coopemep R.L. (Cooperativa de Ahorro y Crédito de los Empleados del Ministerio de Educación Pública R.L.) is a savings and credit cooperative in Costa Rica. Founded to serve education sector workers, it has evolved into a comprehensive financial institution now serving both public and private sector employees across the country.

The cooperative is supervised by the Superintendencia General de Entidades Financieras (SUGEF), Costa Rica's financial regulator. Coopemep holds a risk rating of SRC1 (Excellent Level) with stable short-term perspective and A+ with stable long-term perspective from the Sociedad Calificadora de Riesgo de Centroamérica.

Question 2

When was Coopemep R.L. founded?

Accepted Answer

Coopemep R.L. was founded in 1970. The cooperative originated from discussions among employees of the central offices of the Ministry of Public Education (MEP) in 1968-1969, who recognized the need for an organization to address economic and social challenges facing education workers.

The first General Assembly was held on December 11, 1970. The cooperative was officially registered with the Department of Social Organizations of the Ministry of Labor and Social Security under resolution #267 on October 22, 1971, which is considered the official founding date.

Initially created exclusively for central office employees of the MEP, Coopemep gradually expanded its membership throughout the 1980s to include educators at the national level. In 2020, the cooperative opened its membership to workers in both the public and private sectors.

Question 3

Where is Coopemep R.L. headquartered?

Accepted Answer

Coopemep R.L. is headquartered in Barrio Amón, San José, Costa Rica. The main office is located at Avenida 11, Calles 0 y 1.

The cooperative maintains contact information including phone number (+506) 2295-0610 and general inquiries at 2295-0600.

Question 4

Where does Coopemep R.L. operate?

Accepted Answer

Coopemep operates nationwide throughout Costa Rica with a strategic network of branches. The cooperative has physical locations in Limón, Guápiles, Liberia, Nicoya, Cañas, Ciudad Neilly, Pérez Zeledón, Puntarenas, Alajuela, San Ramón, Turrialba, San Carlos, Desamparados, Moravia, Heredia, Plaza Rofas Cartago, and San José.

All branch offices maintain uniform operating hours from 8:30 AM to 5:00 PM Monday through Friday, and from 8:00 AM to 12:00 PM on Saturdays. Additionally, Coopemep operates a mobile branch equipped with modern technology to reach associates and communities throughout the country.

Question 5

What services does Coopemep R.L. offer?

Accepted Answer

Coopemep R.L. provides comprehensive savings and credit services designed to improve the financial well-being of its members. Core services include various savings products (savings accounts, term deposits, seasonal savings), credit solutions (personal loans, housing loans, debt consolidation loans), and investment options.

The cooperative offers VISA credit cards in both Classic and Platinum tiers with competitive interest rates (29.5% for Classic, 27.5% for Platinum). Cards feature EMV chip technology, contactless payments, and integration with the MONIBYTE app for real-time card control and spending management.

Digital banking services are provided through Coopemep Móvil, a mobile application developed by Bankingly INC. The app enables members to check account balances in real time, view transaction history, make internal and interbank transfers via SINPE, pay public and private services, locate branches, and receive communications.

The cooperative also provides foreign exchange services, merchant discount programs, cooperative education initiatives, and funeral service benefits for members.

Question 6

What makes Coopemep R.L. unique?

Accepted Answer

Coopemep R.L. distinguishes itself through its deep roots in Costa Rica's education sector and commitment to cooperative principles. With over 54 years of history, the institution has maintained a strong focus on financial education and cooperative training, having conducted 916 educational activities and reached 30,156 young cooperativists.

The cooperative's evolution from an exclusive educators' organization to an open-membership institution demonstrates its adaptability while preserving its solidarity-based approach. Coopemep is a founding member of the Federación de Asociaciones Cooperativas de Ahorro y Crédito R.L.

The institution emphasizes its "cooperative spirit," reflected in transparent governance, democratic participation, and a balance sheet approach that highlights social impact alongside financial performance. Members benefit from over 11,000 distributed benefits and access to discount programs with affiliated merchants.

Question 7

What type of financial institution is Coopemep R.L.?

Accepted Answer

Coopemep R.L. is a Cooperativa de Ahorro y Crédito (Savings and Credit Cooperative). In the Costa Rican financial system, cooperatives are member-owned financial institutions that operate under cooperative principles of mutual assistance, democratic control, and social responsibility.

As a supervised cooperative, Coopemep is regulated by SUGEF under Costa Rica's financial intermediation framework. The cooperative model differs from traditional banks in that members are both owners and clients, contributing to social capital (minimum ₡5,000 monthly) and participating in governance through general assemblies.

This structure aligns with the cooperative values of open and voluntary membership, economic participation by members, autonomy, education and training, cooperation among cooperatives, and concern for community.

Coopemep R.L.

in Costa Rica 🇨🇷

Crypto-Friendliness

All done!

About Coopemep R.L. in Costa Rica