Question 1

What is Crediconfia?

Accepted Answer

Crediconfia (formally known as Cooperativa de Ahorro y Crédito Crediconfia) is a savings and credit cooperative operating in Peru. As a COOPAC (Cooperativa de Ahorro y Crédito No Autorizada a Captar Recursos del Público), Crediconfia provides financial services exclusively to its member-owners, focusing on savings mobilization and credit provision.

The cooperative serves the local community in Juliaca, one of the principal commercial centers in the Puno region of southern Peru. With approximately 20 employees, Crediconfia operates as a small-scale financial institution dedicated to meeting the financial needs of its members through the cooperative model.

Question 2

When was Crediconfia founded?

Accepted Answer

Crediconfia officially began operations on December 13, 2017. The cooperative was established to provide accessible financial services to individuals and microentrepreneurs in the Juliaca area who may have limited access to traditional banking services.

The founding of Crediconfia coincided with a period of significant growth in Peru's cooperative financial sector, particularly in regions outside of Lima where traditional banking penetration remained limited.

Question 3

Where is Crediconfia headquartered?

Accepted Answer

Crediconfia is headquartered in Juliaca, located in the San Roman province of the Puno region in southern Peru. Specifically, the cooperative's legal address is Jr. los Incas Mza. B Lote 2, in the Los Incas urbanization, approximately two blocks from the former SEDA Juliaca facility.

Juliaca is Peru's 13th largest city and serves as a major commercial hub for the Puno region, positioned near Lake Titicaca in the Andean highlands.

Question 4

Where does Crediconfia operate?

Accepted Answer

Crediconfia operates in Juliaca and the surrounding areas of San Roman province in the Puno region. The cooperative focuses its services on the local community, serving members within its geographical area of influence.

As a small COOPAC with a single location, Crediconfia concentrates its operations in the commercial district of Juliaca, providing convenient access to members engaged in trade, small business, and other economic activities common to this highland commercial center.

Question 5

What services does Crediconfia offer?

Accepted Answer

As a savings and credit cooperative, Crediconfia offers core financial services to its member-owners, including:

Savings Products: Various savings accounts designed to help members accumulate capital and build financial resilience.

Credit Services: Loans for members' personal, business, and emergency needs, with terms and conditions tailored to the cooperative model.

Member Services: Financial education, counseling, and support services that emphasize the cooperative principles of mutual assistance and democratic participation.

The cooperative operates without digital banking platforms, relying on in-person service delivery at its physical location in Juliaca.

Question 6

What makes Crediconfia unique?

Accepted Answer

Crediconfia distinguishes itself through several characteristics:

Cooperative Structure: As a member-owned institution, Crediconfia operates on cooperative principles where members are simultaneously owners and users of services, participating democratically in the cooperative's governance.

Local Focus: The cooperative maintains a strong commitment to serving the specific needs of the Juliaca community, with deep knowledge of local economic conditions and member circumstances.

Recognition Status: Crediconfia has earned recognition from SUNAT (Peru's tax authority) as a "Buen Contribuyente" (Good Taxpayer), indicating compliance with tax obligations and good standing with regulatory authorities.

Registry Participation: The cooperative is registered in Peru's National Registry of Suppliers, enabling it to participate in contracts with the Peruvian state.

Question 7

What type of financial institution is Crediconfia?

Accepted Answer

Crediconfia is classified as a COOPAC (Cooperativa de Ahorro y Crédito No Autorizada a Captar Recursos del Público), which translates to "Savings and Credit Cooperative Not Authorized to Capture Resources from the Public."

In Peru's financial regulatory framework, COOPACs are cooperative financial institutions that provide services exclusively to their members, distinguishing them from banks and other entities authorized to accept deposits from the general public. Since January 2019, COOPACs have been supervised by the Superintendencia de Banca, Seguros y AFP (SBS) under Law 30822 (Ley COOPAC).

COOPACs are supervised under a modular framework with three levels based on asset size, with varying regulatory requirements proportional to each cooperative's complexity and risk profile. This supervision aims to protect member savings while respecting the cooperative nature of these institutions.

As a relatively small cooperative, Crediconfia operates within the lower supervision levels of the COOPAC system, reflecting its limited scale and local operational focus.

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About Crediconfia in Peru