Question 1

What is Cooperativa de Ahorro y Crédito Perú Progresa?

Accepted Answer

Cooperativa de Ahorro y Crédito Perú Progresa is a credit union (COOPAC) operating in Peru. It is a member-owned cooperative financial institution that provides savings and credit services exclusively to its members. The cooperative is supervised by Peru's Superintendencia de Banca, Seguros y AFP (SBS) under the modular supervision framework established by Law No. 30822, which came into effect in January 2019.

As a COOPAC, Perú Progresa operates under the cooperative principles of democratic member control, mutual self-help, and social responsibility, distinguishing it from commercial banks.

Question 2

When was Cooperativa de Ahorro y Crédito Perú Progresa founded?

Accepted Answer

The cooperative commenced its activities on November 5, 2015. It was established to provide financial services to members in the Cusco region, particularly those who may have limited access to traditional banking services.

Since its founding, Perú Progresa has operated under Peru's cooperative financial system framework, which historically had limited supervision until the comprehensive regulatory reform of 2019.

Question 3

Where is Cooperativa de Ahorro y Crédito Perú Progresa headquartered?

Accepted Answer

The cooperative is headquartered in San Sebastian, a district in the Cusco region of Peru. Its legal address is located on Avenida Cultura, specifically at Manzana A, Lote 17, in the San Martín de Porras urbanization.

San Sebastian is part of the greater Cusco metropolitan area, positioning the cooperative to serve communities in one of Peru's most historically and culturally significant regions.

Question 4

Where does Cooperativa de Ahorro y Crédito Perú Progresa operate?

Accepted Answer

Perú Progresa primarily operates in the Cusco department of Peru, serving members in San Sebastian and surrounding areas within the region. The cooperative focuses on providing localized financial services to communities in the southeastern Andean region of the country.

As a smaller COOPAC, its operations are concentrated in its home region, allowing it to maintain close relationships with its member-owners and understand the specific financial needs of the local population.

Question 5

What services does Cooperativa de Ahorro y Crédito Perú Progresa offer?

Accepted Answer

As a credit union, Perú Progresa offers fundamental financial services to its cooperative members, including:

Savings Products: Various savings accounts and deposit options that allow members to accumulate capital while receiving competitive interest rates.

Credit Products: Loans designed to meet members' personal, family, and small business financing needs, with terms and conditions established according to cooperative principles.

Member Services: Financial guidance and support services that help members manage their finances and achieve their economic goals.

The cooperative operates without a website, conducting its business through in-person interactions at its physical location, which is common for smaller COOPACs in Peru.

Question 6

What makes Cooperativa de Ahorro y Crédito Perú Progresa unique?

Accepted Answer

Perú Progresa distinguishes itself through its cooperative structure, where members are simultaneously owners and users of the financial services. This model prioritizes member welfare over profit maximization.

The cooperative serves communities in Cusco that may face geographic or economic barriers to accessing traditional banking services. Its local presence allows for personalized service and decision-making that reflects the specific needs and cultural context of the region.

Since 2019, the cooperative has been part of Peru's formalized COOPAC system under SBS supervision, which provides members with regulatory protections including coverage under the Fondo de Seguro de Depósitos Cooperativo (FSDC), Peru's cooperative deposit insurance fund that began coverage in February 2025.

Question 7

What type of financial institution is Cooperativa de Ahorro y Crédito Perú Progresa?

Accepted Answer

Perú Progresa is classified as a Cooperativa de Ahorro y Crédito No Autorizada a Captar Recursos del Público (COOPAC), which translates to a credit union not authorized to capture resources from the general public. This designation means it can only accept deposits from and extend credit to its cooperative members.

Under Peru's modular supervision framework established by Law No. 30822, COOPACs are classified into three levels based on their total assets (Level 1: up to 600 UIT, Level 2: 600-65,000 UIT, Level 3: over 65,000 UIT). The regulatory requirements are proportional to the institution's size, complexity, and risk profile.

This type of financial institution differs from commercial banks and other financial entities authorized to serve the general public, operating instead under cooperative principles where members have equal voting rights regardless of their capital contribution.

Cooperativa de Ahorro y Crédito Perú Progresa

in Peru 🇵🇪

Crypto-Friendliness

All done!

About Cooperativa de Ahorro y Crédito Perú Progresa in Peru