Question 1

What is Cooperativa Lachao?

Accepted Answer

Cooperativa Lachao is a Sociedad Cooperativa de Ahorro y Préstamo (SOCAP) that serves primarily rural and marginalized communities in the state of Oaxaca, Mexico. Founded to provide accessible financial services to underserved populations, the cooperative is one of only seven savings and loan cooperatives in Oaxaca authorized by the Comisión Nacional Bancaria y de Valores (CNBV) to operate as an Entidad de Ahorro y Crédito Popular. The cooperative operates with a philosophy of mutual aid and serves members predominantly in agricultural and rural communities along the Costa region of Oaxaca.

Question 2

When was Cooperativa Lachao founded?

Accepted Answer

Cooperativa Lachao was founded in 1994 in the municipality of San Juan Lachao, district of Juquila, in the Costa region of Oaxaca. The cooperative's origins trace back to 1993, when groups of agricultural producers requested authorities to create an association that would allow them to access recovered financial resources.

The Ministry of Social Development (SEDESOL) tasked the National Fund for Social Enterprises (FONAES) with promoting and establishing Cajas Solidarias (Solidarity Banks) to serve these communities. On August 17, 1994, the first branch opened in San Juan Lachao, marking the formal establishment of the cooperative.

Question 3

Where is Cooperativa Lachao headquartered?

Accepted Answer

Cooperativa Lachao is headquartered in Oaxaca de Juárez, Oaxaca, Mexico. The cooperative's corporate offices are located at Mártires de Tacubaya 505 B, Colonia Centro. These new corporate offices were inaugurated on February 1, 2020.

The organization restructured in March 2008 to create centralized corporate offices to better support its expanding branch network across the state of Oaxaca.

Question 4

Where does Cooperativa Lachao operate?

Accepted Answer

Cooperativa Lachao operates exclusively in the state of Oaxaca, Mexico, with a network of branches serving both rural and urban communities. The cooperative maintains five locations:
• Sucursal San Juan: The original branch in San Juan Lachao municipality, opened August 17, 1994
• Sucursal Puerto: Located in Puerto Escondido, opened March 2008
• Sucursal Nopala: Serving Santos Reyes Nopala municipality, opened February 2014
• Sucursal Pochutla: Located in San Pedro Pochutla, opened February 7, 2017
• Corporate Offices: Oaxaca de Juárez, opened February 1, 2020

The cooperative focuses primarily on serving marginalized rural and urban zones throughout the Costa region and surrounding areas of Oaxaca.

Question 5

What services does Cooperativa Lachao offer?

Accepted Answer

Cooperativa Lachao provides a comprehensive range of financial services tailored to the needs of its member-owners:

Savings Products: Secure savings accounts allowing members to build financial reserves with institutional protection.

Investment Products: Investment options designed to help members grow and protect their patrimony.

Credit Products: Customized loan products designed to meet individual member needs, including agricultural loans, personal loans, and business financing for self-employment ventures.

Remittance Services: Domestic and international money transfer services, enabling families to receive funds from relatives working abroad.

Member Benefits: Beyond financial services, the cooperative provides funeral protection services for members, access to medical and sports development centers at reduced rates, and summer courses for children at minimal cost (approximately 100 pesos).

Question 6

What makes Cooperativa Lachao unique?

Accepted Answer

Cooperativa Lachao distinguishes itself through its deep commitment to indigenous communities and cultural preservation. The cooperative provides services in Chatino, the indigenous language spoken by many members in the region, ensuring personalized attention for members who prefer communication in their native language.

The cooperative operates on core cooperative values including trust, loyalty, transparency, service excellence, and efficiency. As one of only seven savings and loan cooperatives in Oaxaca with full CNBV authorization, it maintains rigorous regulatory compliance and deposit insurance protection.

Cooperativa Lachao's mission explicitly focuses on serving marginalized rural and urban populations, promoting development through savings and loans while respecting the environment. The cooperative's approach combines financial services with social responsibility, contributing to local community development through member-owned enterprises and community benefit projects.

Question 7

What type of financial institution is Cooperativa Lachao?

Accepted Answer

Cooperativa Lachao is a Sociedad Cooperativa de Ahorro y Préstamo (SOCAP), which is the Mexican legal designation for a savings and loan cooperative. SOCAPs are member-owned financial cooperatives that operate under cooperative principles of mutual aid, democratic governance, and social responsibility.

The institution received formal authorization from the Comisión Nacional Bancaria y de Valores (CNBV) on June 12, 2009, under office numbers 311-80737/2009 and 134-74647/2009, to operate as an Entidad de Ahorro y Crédito Popular (Popular Savings and Credit Entity) in accordance with the Ley de Ahorro y Crédito Popular (Popular Savings and Credit Law). This authorization was later ratified following the cooperative's name change.

As a regulated SOCAP, Cooperativa Lachao is subject to supervision by Mexico's banking authorities, must maintain deposit insurance, and adheres to regulatory standards for capital adequacy, risk management, and consumer protection that distinguish it from unregulated community savings organizations.

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