Question 1

What is Cooperativa de Ahorro y Crédito Sonaguera Limitada (CAYCSOL)?

Accepted Answer

Cooperativa de Ahorro y Crédito Sonaguera Limitada, commonly known as CAYCSOL, is a savings and credit cooperative headquartered in Sonaguera, Colón department, Honduras. The institution provides comprehensive financial services to its members across multiple locations in the Colón and Olancho departments.

CAYCSOL is registered with the Instituto Hondureño de Cooperativas (IHDECOOP) and is a member of the Federación de Cooperativas de Ahorro y Crédito de Honduras (FACACH). The cooperative operates under the Honduran Cooperative Law (Decreto 65-87) and is supervised by CONSUCOOP.

Question 2

When was Cooperativa de Ahorro y Crédito Sonaguera Limitada (CAYCSOL) founded?

Accepted Answer

CAYCSOL was officially inscribed by IHDECOOP on March 23, 1990, under agreement No. 237, Volume III, Book II. The cooperative was constituted as an organization with indefinite duration and variable capital.

Question 3

Where is Cooperativa de Ahorro y Crédito Sonaguera Limitada (CAYCSOL) headquartered?

Accepted Answer

CAYCSOL is headquartered in the city of Sonaguera, located in the Colón department of Honduras. The cooperative has authorization to operate throughout the Republic of Honduras and internationally.

Question 4

Where does Cooperativa de Ahorro y Crédito Sonaguera Limitada (CAYCSOL) operate?

Accepted Answer

CAYCSOL operates through ten (10) branches distributed across two Honduran departments:

Colón Department (5 locations):
• Main office in Sonaguera city
• Branch offices (filiales) in Saba, Bonito Oriental, Tocoa, and Ilanga (municipality of Trujillo)

Olancho Department (5 locations):
• Branch offices in San Esteban, Juticalpa, Catacamas, Gualaco, and Culmi (municipality of Dulce Nombre de Culmi)

This extensive network allows CAYCSOL to serve both urban and rural communities across eastern Honduras.

Question 5

What services does Cooperativa de Ahorro y Crédito Sonaguera Limitada (CAYCSOL) offer?

Accepted Answer

CAYCSOL provides comprehensive financial services including:
• Savings accounts with competitive interest rates for member deposits
• Time deposits (depósitos a plazo) for higher returns on savings
• Various credit products for personal, business, and agricultural needs
• Member contributions (aportaciones) allowing members to build equity and access benefits
• Financial education on cooperative principles and money management
• Remittance services for receiving international funds

The cooperative emphasizes improving the economic, social, and cultural conditions of its members and the communities it serves.

Question 6

What makes Cooperativa de Ahorro y Crédito Sonaguera Limitada (CAYCSOL) unique?

Accepted Answer

CAYCSOL distinguishes itself through its extensive branch network across two major Honduran departments, providing financial inclusion to rural and underserved areas. With ten locations across Colón and Olancho, the cooperative demonstrates significant geographic reach and commitment to regional development.

As a member of FACACH (the national federation of savings and credit cooperatives), CAYCSOL participates in collective strengthening initiatives and best practice sharing. The institution's presence in both coastal regions (Colón) and inland areas (Olancho) allows it to serve diverse economic activities including agriculture, commerce, and services.

The cooperative maintains transparent financial reporting, with audited financial statements publicly available through its website.

Question 7

What type of financial institution is Cooperativa de Ahorro y Crédito Sonaguera Limitada (CAYCSOL)?

Accepted Answer

CAYCSOL is classified as a Cooperativa de Ahorro y Crédito (Savings and Credit Cooperative) under Honduran law. This designation indicates the institution specializes in mobilizing savings from members and providing credit facilities to those members.

The cooperative operates as a social economy enterprise founded on cooperative principles and values. It is supervised by CONSUCOOP, which ensures compliance with the Ley de Cooperativas de Honduras (Decree 65-87) and related regulations.

As a first-degree cooperative organization, CAYCSOL is a non-profit institution with limited liability and indefinite duration. Its primary purpose is fostering savings among members and offering credit at reasonable interest rates to improve members' economic and social well-being.

Cooperativa de Ahorro y Crédito Sonaguera Limitada (CAYCSOL)

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About Cooperativa de Ahorro y Crédito Sonaguera Limitada (CAYCSOL) in Honduras