Question 1

What is Servicredit?

Accepted Answer

Servicredit is a savings and credit cooperative (Cooperativa de Ahorro y Crédito, or COOPAC) operating in Peru. As a Level 2 COOPAC, Servicredit serves small and medium-sized enterprises (SMEs) and families with limited access to traditional banking services. The cooperative focuses on providing financial solutions to underserved populations, particularly supporting business owners and entrepreneurs across Peru.

Servicredit operates as a member-owned financial cooperative, meaning its customers are also its shareholders. The institution is regulated by the Superintendencia de Banca, Seguros y AFP (SBS) and supervised by the Federación Nacional de Cooperativas de Ahorro y Crédito del Perú (FENACREP).

Question 2

When was Servicredit founded?

Accepted Answer

Servicredit was founded on September 4, 2015. The cooperative began operations with a mission to provide accessible financial services to small business owners and families who traditionally faced barriers to credit access.

On March 15, 2019, Servicredit was formally registered in the National Registry of Credit Cooperatives (Registro Nacional de Cooperativas de Ahorro y Crédito) under registration number 000246-2019-REG.COOPAC-SBS, solidifying its position within Peru's regulated cooperative financial system.

Question 3

Where is Servicredit headquartered?

Accepted Answer

Servicredit is headquartered in Santiago de Surco, a district in Lima, Peru. The main office is located at Avenida El Derby 250, 4th Floor, Capital Derby Building, in the El Derby de Monterrico area.

The cooperative also maintains additional offices in Lima to serve its member base throughout the metropolitan region.

Question 4

Where does Servicredit operate?

Accepted Answer

Servicredit primarily operates in the Lima metropolitan area, with a focus on serving communities in Santiago de Surco and surrounding districts. The cooperative extends its reach to various neighborhoods within Lima, targeting areas where small businesses and entrepreneurs need accessible financial services.

As a Level 2 COOPAC with total assets between 600 and 65,000 UIT (Unidad Impositiva Tributaria), Servicredit maintains a regional presence designed to serve local communities throughout Peru's capital region.

Question 5

What services does Servicredit offer?

Accepted Answer

Servicredit provides a comprehensive range of financial products tailored to SMEs and individual members:

Credit Products:
• Business Working Capital Loans: Financing for daily operational needs, including inventory, raw materials, and supplies
• Invoice Factoring: Solutions allowing businesses to advance payment on their sales invoices
• Personal Loans: Free-use credit lines for members' personal financial needs
• Payroll Loans: Credit products arranged through employer agreements

Savings Products:
• Fixed-Term Deposits (Plazo Fijo): Time deposits available in Peruvian Soles or US Dollars with terms ranging from 90 to 1,800 days
• Competitive Interest Rates: Monthly, quarterly, or maturity-based interest payment options
• Savings Accounts: Basic deposit accounts for cooperative members

Digital Services:
The cooperative embraces technology to improve member access, utilizing virtual platforms for elections and member participation. Servicredit also offers telephone banking through dedicated agent lines.

Question 6

What makes Servicredit unique?

Accepted Answer

Servicredit distinguishes itself through several key characteristics:

Focus on Financial Inclusion: The cooperative specifically targets SMEs and families with limited access to traditional banking, fulfilling an important social mission in Peru's financial landscape.

Rapid Loan Processing: Servicredit advertises loan approvals within 24 hours, providing quick access to capital for businesses with urgent operational needs.

Democratic Governance: As a true cooperative, Servicredit conducts democratic elections for delegates, with virtual voting technology enabling broad member participation. The cooperative adheres to cooperative principles as outlined in Peru's General Law of Cooperatives.

Competitive Deposit Rates: The institution offers competitive interest rates on fixed-term deposits, making it attractive for members seeking to grow their savings.

Use of Deposits as Collateral: Members can leverage their fixed-term deposits as guarantees when applying for loans, increasing credit accessibility.

Question 7

What type of financial institution is Servicredit?

Accepted Answer

Servicredit is a Cooperativa de Ahorro y Crédito No Autorizada a Captar Recursos del Público (COOPAC), which translates to a Credit Union or Savings and Credit Cooperative Not Authorized to Accept Public Deposits.

In Peru's financial system, COOPACs are cooperative financial institutions that provide savings and credit services exclusively to their members (socios). Unlike traditional banks, COOPACs are member-owned, non-profit entities focused on member welfare rather than profit maximization. They operate under a different regulatory framework than commercial banks, emphasizing cooperative principles and social responsibility.

Servicredit is classified as a Level 2 COOPAC, meaning it has total assets between 600 UIT and 65,000 UIT. This classification allows the cooperative to offer a broader range of operations than Level 1 entities, including discount services, factoring, debit cards, severance payment accounts (CTS), guarantees for the state, and credit cards, subject to SBS authorization.

The cooperative follows prudential regulations established by the SBS through its Superintendencia Adjunta de Cooperativas (SACOOP), with technical collaboration in supervision. This regulatory structure ensures proper risk management while respecting the unique nature of cooperative financial institutions.

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