Question 1

What is Coopetro?

Accepted Answer

Coopetro (Cooperativa de Ahorro y Crédito Petroperú Ltda.) is a savings and credit cooperative in Peru that primarily serves employees and retirees of Petroperú and related energy sector companies. Operating under the motto "Gente Buena Que Progresa" (Good People Who Progress), Coopetro is a member-based financial institution that provides savings and credit services exclusively to its members.

The cooperative is supervised by the Superintendencia de Banca, Seguros y AFP (SBS) under Peru's cooperative banking framework. As a COOPAC (Cooperativa de Ahorro y Crédito) not authorized to capture resources from the general public, Coopetro operates solely with its member-owners.

Question 2

When was Coopetro founded?

Accepted Answer

[Information not publicly available]. However, the cooperative was established to serve employees of Petroperú, which itself was founded on July 24, 1969, when the Peruvian government nationalized the country's oil industry.

The founders' vision was to create an institution based on mutual trust and mutual aid, where members could pool resources through small contributions to achieve economies of scale and provide financial products and services at fair and reasonable rates.

Question 3

Where is Coopetro headquartered?

Accepted Answer

Coopetro is headquartered in Lima, Peru. According to SBS registration documents, the cooperative is registered with RUC 20148332771 and classified as a Level 2 COOPAC under the regulatory framework established by the Superintendencia de Banca, Seguros y AFP.

Question 4

Where does Coopetro operate?

Accepted Answer

Coopetro operates primarily in Peru, serving members who work or have worked in various companies and institutions throughout the country. The cooperative's membership includes employees from Petróleos del Perú (Petroperú), Repsol YPF, Mobil, Maple Gas Corporation, as well as public sector entities like Sunat, Sunarp, and employees from universities and other corporations.

The institution serves both active employees and retirees (cesantes y jubilados) across multiple regions where these organizations operate.

Question 5

What services does Coopetro offer?

Accepted Answer

Coopetro provides a comprehensive range of financial services exclusively to its members:

Savings Products:
• Regular savings accounts
• Fixed-term deposits (CTS deposits authorized under Law No. 29463 and SBS Resolution No. 12321-2010)
• Online account consultation services

Credit Products:
• Personal loans
• Mortgage loans (ordinary credit with mortgage guarantee in Peruvian Soles)
• Promotional loans for various purposes
• Loan simulation tools for quick financing options

Additional Services:
• Financial education through the "Finanzas Para Ti" (Finance for You) program, designed to help members improve their financial knowledge and establish healthy financial habits
• Transparent rate information (passive and active interest rates) published on their website

Digital Services:
• Online account balance checking from home or office
• Web-based loan simulation tools
• Access to cooperative statutes and regulations online

Question 6

What makes Coopetro unique?

Accepted Answer

Coopetro distinguishes itself through several key characteristics:

Strong Financial Position: The cooperative maintains solid financial health with liquidity, solvency, and efficiency indices that exceed standards required of financial entities regulated by the SBS. This strong financial position serves as the primary guarantee for member deposits.

Sector-Specific Focus: Unlike general cooperatives, Coopetro specializes in serving the energy sector and related industries, creating a tight-knit community of members with similar employment profiles and financial needs.

Cooperative Deposit Insurance: Coopetro participates in the Fondo de Seguro de Depósitos Cooperativo (Cooperative Deposit Insurance Fund) established by SBS Resolution No. 5061-2018. The institution maintains current quarterly premium payments to this fund as required by SBS Resolution No. 01297-2023.

Member-Centric Philosophy: Operating under cooperative principles of mutual aid, the institution provides products and services at fair and reasonable rates designed to benefit all members equally, rather than maximizing profits.

Transparency and Compliance: The cooperative regularly publishes notices in accordance with SBS regulations (Article 8 of SBS Resolution No. 540-99) and provides timely reports to its General Assembly of Delegates.

Question 7

What type of financial institution is Coopetro?

Accepted Answer

Coopetro is a Cooperativa de Ahorro y Crédito (COOPAC) - a Savings and Credit Cooperative. In Peru's financial system, COOPACs are non-profit associative entities that capture savings and grant loans exclusively to their cooperative members.

Specifically, Coopetro is classified as a Level 2 COOPAC under Peru's modular scheme for cooperatives. It is a COOPAC not authorized to capture resources from the general public, meaning it can only conduct deposit, credit, and other financial operations with its members.

As stated in its official communications, Coopetro operates according to the Law of Cooperatives and Complementary Norms in force, and is supervised by the Superintendencia Adjunta de Cooperativas (SACOOP), a division of the SBS that oversees cooperative financial institutions.

Question 8

What is Coopetro's relationship with Petroperú?

Accepted Answer

While Coopetro was created to serve Petroperú employees, it is an independent financial cooperative and not a subsidiary or division of Petroperú itself. The relationship is based on a common membership - employees and retirees of Petroperú and related energy sector companies form the core membership base.

Petroperú, Peru's state-owned oil company, was founded in 1969 and employs over 2,500 people across various operations including refineries, pipelines, and distribution facilities throughout Peru. Coopetro serves as the financial cooperative for this workforce and extended community, providing specialized financial services tailored to the needs of energy sector workers.

The cooperative also extends membership to employees of other energy companies such as Repsol YPF, Mobil, Maple Gas Corporation, Pluspetrol Norte, and Savia Perú, creating a broader energy sector financial community.

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