Question 1

What is San Salvador de Milpo?

Accepted Answer

San Salvador de Milpo is a Peruvian credit union (Cooperativa de Ahorro y Crédito) operating in the Pasco region. Known commercially as Coopac Milpocoop, it is a member-owned financial cooperative that provides savings and credit services to its members. The institution serves the mining and local communities in the Pasco region, focusing on financial inclusion and economic development. San Salvador de Milpo is regulated by Peru's Superintendency of Banking, Insurance and AFPs (SBS) and is a member of the Federación Nacional de Cooperativas de Ahorro y Crédito del Perú (FENACREP) and the Fondo Seguro de Depósito Cooperativo (FSDC).

Question 2

When was San Salvador de Milpo founded?

Accepted Answer

San Salvador de Milpo was founded on July 27, 1963, making it over 61 years old. The cooperative was established to serve the financial needs of workers and residents in the Milpo mining area and surrounding communities in Pasco. It was officially registered in Peru's National Registry of COOPACs in 2019, following the implementation of Law 30822, which established a modern regulatory framework for credit unions in Peru.

Question 3

Where is San Salvador de Milpo headquartered?

Accepted Answer

San Salvador de Milpo is headquartered at Jr. Hilario Cabrera No. 202, in the A.H. San Juan Pampa neighborhood of the Yanacancha district in Pasco, Peru. Yanacancha is one of the districts within the Pasco Province in the central highlands of Peru, an area historically associated with mining activities.

Question 4

Where does San Salvador de Milpo operate?

Accepted Answer

San Salvador de Milpo operates primarily in the Pasco region of central Peru. The institution focuses on serving the Yanacancha district and surrounding areas within Pasco Province. As a regionally-focused credit union, it concentrates on providing financial services to residents, workers, and small businesses in this mining-influenced highland region.

Question 5

What services does San Salvador de Milpo offer?

Accepted Answer

San Salvador de Milpo offers a range of savings and credit products designed for its cooperative members. Credit services include loans for personal needs, family expenses, and microenterprise development. Savings products include regular savings accounts, term deposits, and member share capital contributions. The institution provides financial services tailored to the needs of workers in the mining sector as well as local entrepreneurs and families. Members can access information about products and services through the cooperative's website at milpocooppasco.com. The cooperative employs approximately 19 staff members to serve its member base.

Question 6

What makes San Salvador de Milpo unique?

Accepted Answer

San Salvador de Milpo is distinguished by its more than six decades of service to the Pasco community, establishing deep roots in a region characterized by mining activity. The cooperative has adapted to serve both traditional mining sector workers and the broader local community, demonstrating resilience and commitment to its members. Its membership in FENACREP and participation in the Fondo Seguro de Depósito Cooperativo (FSDC) provides deposit insurance protection and connects it to a broader network of credit unions throughout Peru. The institution has demonstrated steady financial growth, with a reported 13.69% increase in total assets and 9.35% increase in net revenue in 2023.

Question 7

What type of financial institution is San Salvador de Milpo?

Accepted Answer

San Salvador de Milpo is a Credit Union (Cooperativa de Ahorro y Crédito), a type of member-owned financial cooperative operating in Peru. COOPACs are specialized non-bank financial institutions that provide savings and credit services exclusively to their members. The institution is regulated by the Superintendency of Banking, Insurance and AFPs (SBS) through the Superintendencia Adjunta de Cooperativas (SACOOP), under the framework of Law 30822. Credit unions in Peru emphasize cooperative principles including democratic member control, economic participation, and commitment to community development. As a COOPAC, San Salvador de Milpo operates on a not-for-profit basis, with any surplus returned to members through improved services, better rates, or community development initiatives.

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About San Salvador de Milpo in Peru