Question 1

What is Crédito Agrícola Coruche?

Accepted Answer

Crédito Agrícola Coruche is a local cooperative bank (Caixa de Crédito Agrícola Mútuo) operating in the Santarém district of Portugal. This mutual credit institution primarily serves the municipality of Coruche, a predominantly agricultural region known for its cork production, livestock, and rice cultivation. As a cooperative financial institution, it operates under mutualist principles with members as co-owners.

The bank is a member of the Sistema Integrado do Crédito Agrícola Mútuo (SICAM) and part of the Crédito Agrícola Group. It functions as a universal bank, providing comprehensive banking services to individuals, agricultural enterprises, and businesses in the Coruche region.

Question 2

When was Crédito Agrícola Coruche founded?

Accepted Answer

The specific founding date of the Coruche Caixa is not publicly documented, but it operates as part of the Crédito Agrícola movement established in Portugal in 1911. The Portuguese agricultural cooperative credit system was formally created on March 1, 1911, by Minister Brito Camacho, following the first agricultural cooperative credit law passed in 1896.

Many local Caixas were established in the early 20th century to provide credit support to farmers and agricultural workers who lacked access to traditional banking. The cooperative expanded significantly after 1974 when Portuguese cooperative banks gained greater autonomy, and again after 1978 with the creation of FENACAM (National Federation of Mutual Agricultural Credit Banks).

Question 3

Where is Crédito Agrícola Coruche headquartered?

Accepted Answer

The bank is headquartered in Coruche, Portugal, a municipality in the Santarém district in the Alentejo region of central-southern Portugal.

Question 4

Where does Crédito Agrícola Coruche operate?

Accepted Answer

Crédito Agrícola Coruche operates primarily in the municipality of Coruche and surrounding areas in the Santarém district. The bank maintains branches throughout the Coruche region to ensure proximity to its members and customers.

Coruche is characterized by extensive agricultural activity, including cork oak forests, rice paddies, livestock farming, and wine production. The bank's geographic focus allows it to specialize in serving the unique financial needs of this agricultural community while also providing retail banking services to local residents and businesses.

Question 5

What services does Crédito Agrícola Coruche offer?

Accepted Answer

As a universal cooperative bank, Crédito Agrícola Coruche offers comprehensive financial services including:

Retail Banking: Current accounts (Conta à Ordem, BeFree, SuperJovem), savings accounts, time deposits with various terms and specialized products for different customer segments.

Credit Products: Mortgage loans for housing purchase and construction, consumer credit for education, health, vehicles, and personal purposes, and business financing for SMEs.

Agricultural Financing: Specialized credit for agricultural machinery and equipment, working capital for farming operations, land acquisition, and support for internationalization of agricultural businesses.

Payment Cards: Debit cards (BeFree, SuperJovem, Visa Electron) and credit cards (Classic, Premier) with contactless payment capabilities.

Insurance Services: Life insurance (credit protection, family protection), agricultural insurance (CA Colheitas for crops, CA Estufas for greenhouses, CA Incêndios Agrícolas for agricultural fires, CA Tractores for tractors and machinery), property insurance, automobile insurance, and health insurance.

Investment Products: Pension funds, mutual funds (real estate and securities), and asset management services.

Digital Banking: Online banking platform (CA Online) and mobile banking app (CA Mobile) providing 24/7 access to accounts, transfers, payments, and financial management tools.

The bank maintains specialized expertise in agricultural financing, understanding the seasonal cash flow patterns and unique needs of farming operations.

Question 6

What makes Crédito Agrícola Coruche unique?

Accepted Answer

Agricultural Specialization: Operating in one of Portugal's significant agricultural regions, the bank has deep expertise in financing cork production, rice cultivation, livestock operations, and other agricultural activities specific to the Coruche area.

Cooperative Structure: As a mutual cooperative, members are co-owners with democratic governance rights (one member, one vote), ensuring the institution serves local agricultural and community interests rather than external shareholders.

Local Knowledge: The bank's staff and management possess intimate knowledge of local agricultural cycles, land values, and business conditions, enabling tailored financial solutions for farmers and rural businesses.

Community Commitment: Beyond banking services, the institution supports local social, cultural, and sports initiatives, contributing to rural development in the Coruche region.

Deposit Protection: Deposits up to €100,000 per depositor are protected by the Portuguese deposit guarantee scheme (PT_FGCAM - Fundo de Garantia do Crédito Agrícola Mútuo).

Agricultural Insurance Expertise: The bank offers specialized agricultural insurance products addressing specific risks faced by farmers, including crop insurance, greenhouse coverage, agricultural fire insurance, and machinery protection.

Network Access: While maintaining local autonomy, customers benefit from access to over 600 branches across Portugal through the Crédito Agrícola Group network.

Question 7

What type of financial institution is Crédito Agrícola Coruche?

Accepted Answer

Crédito Agrícola Coruche is a Cooperative Credit Institution (Instituição de Crédito Cooperativa), specifically a Caixa de Crédito Agrícola Mútuo (Mutual Agricultural Credit Bank).

In Portugal, cooperative credit institutions are characterized by their mutualist structure where members hold ownership through capital shares and exercise democratic control with one member, one vote, regardless of capital contribution. These institutions prioritize member benefit and community development over profit maximization.

The bank is fully regulated by Banco de Portugal and the European Banking Authority, holding the same regulatory status as commercial banks. It was authorized as a credit institution on April 11, 2019, under the current regulatory framework and participates in the PT_FGCAM deposit guarantee scheme (Fundo de Garantia do Crédito Agrícola Mútuo).

Despite its cooperative nature and agricultural heritage, Crédito Agrícola Coruche operates as a universal bank, offering comprehensive banking services to both members and non-members throughout its operating region.

Crédito Agrícola Coruche

in Portugal 🇵🇹

Crypto-Friendliness

All done!

About Crédito Agrícola Coruche in Portugal