Question 1

What is Coofab?

Accepted Answer

Coofab (Cooperativa de Economia e Crédito Mútuo dos Empregados da Fundação Arthur Bernardes) is a Brazilian credit cooperative established to serve employees of Fundação Arthur Bernardes (FUNARBE), a private non-profit foundation that provides administrative and financial support to the Federal University of Viçosa (Universidade Federal de Viçosa - UFV). As a mutual credit cooperative, Coofab provides financial services exclusively to employee-members based on cooperative principles.

The cooperative operates within Brazil's regulated cooperative financial system under the supervision of the Central Bank of Brazil.

Question 2

When was Coofab founded?

Accepted Answer

[Information not publicly available]

The cooperative serves employees of Fundação Arthur Bernardes, which was established in 1979 (some sources indicate 1970) to support teaching, research, and extension activities at the Federal University of Viçosa. FUNARBE has operated for over four decades as one of Brazil's leading university support foundations.

Question 3

Where is Coofab headquartered?

Accepted Answer

[Information not publicly available]

The cooperative serves employees of Fundação Arthur Bernardes, which is headquartered in Viçosa, Minas Gerais, Brazil. Viçosa is a university city in the Zona da Mata region of Minas Gerais state, home to the Federal University of Viçosa.

Question 4

Where does Coofab operate?

Accepted Answer

Coofab operates in Viçosa and surrounding areas in Minas Gerais state, serving employees of Fundação Arthur Bernardes. FUNARBE's operations are centered at UFV's main campus in Viçosa, with the university also maintaining campuses in Florestal and Rio Paranaíba in Minas Gerais.

As a closed-bond credit cooperative, membership is restricted to employees of Fundação Arthur Bernardes working in support of UFV and other research institutions that FUNARBE serves.

Question 5

What services does Coofab offer?

Accepted Answer

As a credit cooperative, Coofab typically offers financial services including personal loans, consigned payroll loans, savings accounts, capital accumulation programs, and financial education to its employee-members. Brazilian credit cooperatives generally provide more competitive interest rates on loans and better returns on deposits compared to traditional commercial banks.

The cooperative operates under the regulatory framework of the Central Bank of Brazil, ensuring compliance with all applicable financial regulations governing cooperative financial institutions.

Question 6

What makes Coofab unique?

Accepted Answer

Coofab serves employees of a foundation supporting one of Brazil's oldest and most prestigious agricultural universities. UFV was inaugurated in 1926 as the Higher School of Agriculture and Veterinary Science (ESAV), created during the administration of President Artur Bernardes (after whom FUNARBE is named).

UFV is a reference institution in Agricultural Sciences including Agriculture and Veterinary Medicine, with excellence in teaching, research, and extension across Biological, Exact, and Human Sciences. FUNARBE manages administrative and financial aspects of numerous research projects, extension activities, and scholarships for UFV, supporting the university's mission of advancing science, technology, and innovation. The cooperative serves workers who enable this critical educational and research infrastructure.

Question 7

What type of financial institution is Coofab?

Accepted Answer

Coofab is classified as a cooperativa de crédito mútuo (mutual credit cooperative) in Brazil. This designation indicates it serves a closed bond of members—specifically, employees of Fundação Arthur Bernardes.

Credit cooperatives in Brazil are fully regulated financial institutions supervised by the Central Bank of Brazil and governed by Law 5,764/71. They must comply with the same regulatory standards as traditional banks, including capital requirements and prudential norms, while benefiting from tax advantages due to their cooperative structure and non-profit orientation. Members are simultaneously owners and users of the cooperative's services, with democratic governance ensuring member participation in decision-making.

Coofab

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About Coofab in Brazil