Question 1

What is Staatsolie Spaar- en Krediet Coöperatie?

Accepted Answer

Staatsolie Spaar- en Krediet Coöperatie is a closed-bond credit cooperative in Suriname that provides financial services exclusively to employees and members of Staatsolie Maatschappij Suriname N.V., the country's state-owned oil and energy company. As a workplace-based cooperative, it operates on a member-owned basis, offering savings and credit facilities to its members. The cooperative is supervised by the Centrale Bank van Suriname (CBvS) under the Banking and Credit System Supervision Act 2023.

Question 2

When was Staatsolie Spaar- en Krediet Coöperatie founded?

Accepted Answer

[Information not publicly available]

The specific founding date of the cooperative is not disclosed in public records. However, it operates as part of Suriname's credit union sector, which has been regulated and supervised by the Central Bank since the early 2000s. The cooperative serves employees of Staatsolie, which was itself established on December 13, 1980.

Question 3

Where is Staatsolie Spaar- en Krediet Coöperatie headquartered?

Accepted Answer

The cooperative is headquartered in Paramaribo, Suriname, and serves members associated with Staatsolie's operations throughout the country. Staatsolie's main facilities are located in Paramaribo, with operations extending to oil fields in Tambaredjo, Calcutta, and other areas in the Saramacca district.

Question 4

Where does Staatsolie Spaar- en Krediet Coöperatie operate?

Accepted Answer

The cooperative operates primarily in Paramaribo and surrounding areas where Staatsolie employees are based. Given that Staatsolie has operations across multiple districts in Suriname, including production facilities in Saramacca and power generation facilities in Paranam, the cooperative likely serves members in these regions as well. As a closed-bond credit union, its services are restricted to Staatsolie employees and their families.

Question 5

What services does Staatsolie Spaar- en Krediet Coöperatie offer?

Accepted Answer

The cooperative offers traditional credit union services focused on its member base. These include savings accounts that allow members to build deposits and earn interest on their funds. The cooperative provides various loan products to members, including personal loans, consumer credit, and potentially mortgage financing.

As a member-owned cooperative, it operates on the principle of financial self-help, where members pool their savings to provide affordable credit to one another. The cooperative does not maintain a commercial website or digital banking platform, focusing instead on in-person service delivery to its member base.

Question 6

What makes Staatsolie Spaar- en Krediet Coöperatie unique?

Accepted Answer

The cooperative's unique characteristic is its exclusive focus on serving employees of Suriname's national oil company. This closed-bond structure creates a tightly-knit financial community where members share a common workplace and employment connection. Unlike open-bond credit unions that accept members from the general public, this cooperative restricts membership to those affiliated with Staatsolie.

This employment-based model allows the cooperative to tailor its financial products specifically to the needs and income patterns of oil and energy sector workers. The cooperative operates under a democratic governance structure where members elect a Board of Directors and Supervisory Committee, ensuring member control over the institution's policies and operations.

Question 7

What type of financial institution is Staatsolie Spaar- en Krediet Coöperatie?

Accepted Answer

Staatsolie Spaar- en Krediet Coöperatie is classified as a closed-bond credit cooperative (spaar- en kredietcoöperatie) under Surinamese law. In Suriname's financial system, credit cooperatives are recognized as credit institutions regulated by the Central Bank under the Banking and Credit System Supervision Act 2023.

Credit cooperatives in Suriname differ from commercial banks in their cooperative structure, democratic governance, and non-profit orientation. They operate as member-owned financial institutions where the primary goal is serving member needs rather than maximizing profits. The closed-bond designation means membership is restricted to employees of a specific entity—in this case, Staatsolie and its subsidiaries.

The Central Bank classifies credit unions into categories based on total assets, with ongoing reporting and compliance requirements. As a workplace-based cooperative, it represents one of several credit unions in Suriname serving specific employee groups or communities.

Staatsolie Spaar- en Krediet Coöperatie

in Suriname 🇸🇷

Crypto-Friendliness

All done!

About Staatsolie Spaar- en Krediet Coöperatie in Suriname