Question 1

What is Coopluiza?

Accepted Answer

Coopluiza (Cooperativa de Crédito Mútuo dos Empregados do Magazine Luiza, Empresas Controladas e Coligadas) is a credit cooperative financial institution in Brazil that serves employees of Magazine Luiza, one of Brazil's largest retail companies, along with its controlled and affiliated companies. It is a mutual credit cooperative supervised and regulated by the Central Bank of Brazil (Banco Central do Brasil). The cooperative operates with the mission of providing financial services through mutuality, promoting savings programs, proper credit usage, and cooperative education for its members.

Question 2

When was Coopluiza founded?

Accepted Answer

Coopluiza was founded on April 9, 1997, and acquired legal personality on April 10, 1997, through registration number 02.093.154/0001-09. In 2021, the cooperative celebrated its 24th anniversary, maintaining its vocation as an institution focused on fostering credit for its member base of Magazine Luiza employees. The cooperative has consistently grown over the years, serving the expanding workforce of one of Brazil's most prominent retail groups.

Question 3

Where is Coopluiza headquartered?

Accepted Answer

Coopluiza is headquartered in Franca, São Paulo state, Brazil, located at Rua do Comércio, 1924, 2nd floor, Centro, CEP: 14400-660. Franca is a significant commercial center in São Paulo's interior, and the cooperative's location provides access to Magazine Luiza employees across the region.

Question 4

Where does Coopluiza operate?

Accepted Answer

Coopluiza operates throughout Brazil, serving Magazine Luiza employees and workers from controlled and affiliated companies wherever they are located across the country. As Magazine Luiza maintains a nationwide retail presence with stores and distribution centers throughout Brazil, the cooperative's reach extends to serve employees across all regions where the retail group operates.

Question 5

What services does Coopluiza offer?

Accepted Answer

Coopluiza offers comprehensive financial services focused on credit operations and capital building for Magazine Luiza employees. Primary services include personal loans, savings through capital quotas (cotas-partes), and deposit products. Members are required to subscribe and integrate monthly capital quotas representing 1% to 20% of their gross monthly salary.

The cooperative transitioned from a "Classic" cooperative model (offering all financial products) to a "Capital and Loan" cooperative in 2020, focusing specifically on capital quotas and loan operations. This streamlining reduced credit approval times and operational costs, improving efficiency.

In 2021, Coopluiza had a commercial loan portfolio of R$ 32.37 million and served 11,452 members, representing a 22.12% growth in membership from the previous year. The cooperative maintains a Guarantee Fund backed by Magazine Luiza to secure certain loan operations. Credit policies include comprehensive credit analysis using a RATING system that weights default probability against guarantees provided.

Digital services are available through Magazine Luiza's Kirk platform, where members can manage their accounts, request services, and process membership applications or withdrawals.

Question 6

What makes Coopluiza unique?

Accepted Answer

Coopluiza exclusively serves employees of Magazine Luiza and its controlled and affiliated companies, creating a specialized financial institution that understands the employment characteristics and needs of retail sector workers. The cooperative benefits from Magazine Luiza's guarantee fund, which provides additional security for loan operations.

In 2020-2021, the cooperative made strategic changes, transitioning to an independent cooperative structure after disaffiliating from SICOOB Central Cecresp and affiliating with FNCC (Federação Nacional das Cooperativas de Crédito) for technical and operational support. These changes enhanced operational efficiency and reduced credit approval times.

The cooperative maintains high credit quality, with 94.94% of its loan portfolio classified in levels "A" to "C" according to Central Bank Resolution CMN nº 2.682/99. Members build wealth through mandatory capital contributions while accessing credit at competitive rates, with annual surplus distributions (sobras) when the cooperative generates positive results.

In 2021, Coopluiza achieved results of R$ 4.23 million before allocations, with a reference equity of R$ 26.27 million, demonstrating financial strength and commitment to member benefits.

Question 7

What type of financial institution is Coopluiza?

Accepted Answer

Coopluiza is a cooperativa de crédito mútuo (mutual credit cooperative), a type of financial institution recognized in Brazil under the supervision and regulation of the Central Bank of Brazil. Following its 2020 restructuring, it operates specifically as a "Capital and Loan" cooperative, focusing on capital quota management and lending operations.

The cooperative follows Brazilian cooperative law and operates under democratic governance principles where members participate in decision-making through general assemblies. The institution functions on a not-for-profit basis, with surplus returns distributed to members proportionally to their operations with the cooperative. It is affiliated with FNCC for technical and operational support.

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