Question 1

What is Coopuerj?

Accepted Answer

Coopuerj is a mutual credit cooperative serving employees of the State University of Rio de Janeiro (UERJ) in Brazil. As a not-for-profit cooperative financial institution, it operates under the cooperative banking principles established by Brazilian Law 5.764/1971 and is regulated by the Central Bank of Brazil. The cooperative provides accessible financial services, competitive credit rates, and additional benefits exclusively to its members, focusing on financial education and mutual aid among UERJ employees and their families.

Question 2

When was Coopuerj founded?

Accepted Answer

Coopuerj was founded on May 9, 1984, when a group of 45 employees from the State University of Rio de Janeiro united to create the cooperative. The founding members established the institution with the objective of promoting cooperative and financial education through mutual help and appropriate use of credit.

The cooperative initially operated from UERJ's main campus at Rua São Francisco Xavier, 524, in the Maracanã neighborhood of Rio de Janeiro. Over the decades, Coopuerj has grown significantly while maintaining its commitment to offering accessible interest rates and comprehensive benefits to its members.

Question 3

Where is Coopuerj headquartered?

Accepted Answer

Coopuerj is headquartered at Rua Felipe Camarão, 37, in the Vila Isabel neighborhood of Rio de Janeiro, Brazil. The cooperative owns this building and uses it to provide personalized and secure service to its members.

The headquarters location allows the cooperative to serve members with in-person consultations, member onboarding, and access to various financial and non-financial services.

Question 4

Where does Coopuerj operate?

Accepted Answer

Coopuerj operates primarily in Rio de Janeiro, serving employees of the State University of Rio de Janeiro (UERJ) and their dependents. The cooperative's operations are centered in Rio de Janeiro city, where both its headquarters and the main UERJ campus are located.

As a cooperative specifically designed for UERJ employees, its membership and service area are closely tied to the university's community throughout the Rio de Janeiro metropolitan area.

Question 5

What services does Coopuerj offer?

Accepted Answer

Coopuerj offers a comprehensive range of financial and non-financial services to its members, including:

Financial Services:
• Payroll-deducted loans (empréstimo consignado) with competitive interest rates starting at 1.65% plus fees
• Check-based loans
• Debt consolidation services (subject to evaluation)
• Savings programs through automatic payroll deductions

Additional Member Benefits:
• Health insurance plans through UnimedRio partnership at competitive market rates
• Dental insurance coverage
• Free legal consultation services
• Prescription medication discounts
• Death benefit assistance for members' families
• Funeral assistance benefits
• Eye clinic partnerships
• Language course discounts
• Seasonal Christmas baskets (subject to availability)

Members contribute 3% of their base salary through payroll deductions, with 1.5% allocated to cooperative maintenance and 1.5% to capital formation. Upon leaving membership, members receive their capital contribution back, adjusted by the SELIC rate according to the cooperative's bylaws.

Question 6

What makes Coopuerj unique?

Accepted Answer

Coopuerj distinguishes itself through its focused approach to serving a specific university community. Unlike commercial banks, it operates as a not-for-profit institution where profits are reinvested to benefit members through lower interest rates and enhanced services.

The cooperative offers one of the lowest interest rates in the Brazilian market for payroll-deducted personal loans. Members gain access to health insurance at highly competitive prices—specifically the UnimedRio plan marketed as having the lowest price in the market.

Coopuerj emphasizes personalized service and financial education aligned with cooperative principles. The institution maintains strict compliance with the General Data Protection Law (LGPD) and banking secrecy laws, while being supervised by the Central Bank of Brazil and independent auditors.

Its mission centers on promoting cooperative and financial education through mutual help, systematic savings, and appropriate credit use, fostering the expansion of mutual credit cooperativism.

Question 7

What type of financial institution is Coopuerj?

Accepted Answer

Coopuerj is a Cooperativa de Crédito Mútuo (Mutual Credit Cooperative), a specific category of financial cooperative in Brazil. This institutional type is characterized by restricted membership based on common bonds—in this case, employment at UERJ.

Mutual credit cooperatives in Brazil are regulated financial institutions fully integrated into the National Financial System (Sistema Financeiro Nacional). They operate under the supervision of the Central Bank of Brazil and must comply with Law 5.764/1971 (the Cooperatives Law), as well as specific resolutions and norms issued by the Central Bank.

As a mutual credit cooperative, Coopuerj operates on democratic governance principles where members are simultaneously owners and users of services. The institution is governed by its Social Statute approved in General Assembly, and it functions without profit motives, instead focusing on providing the best possible services and rates to its member-owners.

Question 8

How does someone become a member of Coopuerj?

Accepted Answer

Membership in Coopuerj is restricted to employees of the State University of Rio de Janeiro (UERJ) and their eligible dependents. Prospective members must request enrollment through the cooperative's contact channels, after which they receive guidance for registration activation.

Upon joining, members agree to a monthly payroll deduction of 3% of their base salary. This contribution is split equally: 1.5% supports cooperative operations and maintenance, while the remaining 1.5% builds the member's capital share in the cooperative.

If a member chooses to leave the cooperative, their accumulated capital contribution is returned with corrections based on Brazil's SELIC interest rate, following the terms established in the cooperative's social statute.

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About Coopuerj in Brazil