Question 1

What is Societaria Unión Santiago de Machaca (USAMA) R.L.?

Accepted Answer

Societaria Unión Santiago de Machaca (USAMA) R.L. is a savings and credit cooperative (Cooperativa de Ahorro y Crédito Societaria) based in Bolivia. It operates as a member-owned financial institution serving the Aymara communities in the La Paz Department, with a particular focus on residents of El Alto, La Paz, and the rural locality of Santiago de Machaca. The cooperative specializes in providing accessible savings and credit services to members who may have limited access to traditional banking institutions.

USAMA R.L. is regulated by the Autoridad de Supervisión del Sistema Financiero (ASFI), Bolivia's financial supervision authority, since obtaining its Certificate of Adequacy in June 2017.

Question 2

When was Societaria Unión Santiago de Machaca (USAMA) R.L. founded?

Accepted Answer

The cooperative was founded on July 19, 1985, emerging from the initiative of a group called Acción Familiar Villalobos (AFAVI), led by Marcos Villalobos Alcón. The organization was established during Bolivia's severe economic crisis of the 1980s as a response to the urgent need for financial solidarity among community members.

The cooperative was initially created as a Cooperative of Consumption with a Savings and Credit Section. It originated from the Centro de Acción Social Unión Santiago de Machaca, which had been founded on December 25, 1954 (Legal Entity No. 70095).

USAMA R.L. received its Legal Entity status through Council Resolution No. 03026 on May 28, 1986, and was registered in the National Registry of Cooperatives with number 2773 on the same date. The cooperative has been operating for over 35 years, serving generations of members.

Question 3

Where is Societaria Unión Santiago de Machaca (USAMA) R.L. headquartered?

Accepted Answer

The central office is located at Calle Beltrán No. 2679, Urbanización 16 de Julio, El Alto, La Paz Department, Bolivia. El Alto is Bolivia's second-largest city and sits adjacent to La Paz at over 4,000 meters above sea level, making it one of the highest cities in the world.

The cooperative maintains this headquarters in a predominantly Aymara area known for its vibrant commercial activity and indigenous cultural heritage.

Question 4

Where does Societaria Unión Santiago de Machaca (USAMA) R.L. operate?

Accepted Answer

USAMA R.L. operates primarily in the La Paz Department through multiple locations:
• Central Office: El Alto (Urbanización 16 de Julio)
• External Office: La Paz city center, located at Calle Isaac Tamayo No. 662, Galería Isaac Tamayo, Zona El Rosario
• Fair Office: Santiago de Machaca, a rural locality in the José Manuel Pando Province, La Paz Department

The cooperative's service area focuses on the urban-rural corridor connecting El Alto, La Paz city, and the rural altiplano communities. This geographic distribution reflects the traditional Aymara pattern of maintaining connections between urban and rural areas.

Question 5

What services does Societaria Unión Santiago de Machaca (USAMA) R.L. offer?

Accepted Answer

USAMA R.L. provides a comprehensive range of financial services to its members:

Savings Products:
• Savings accounts (Caja de Ahorro) with competitive interest rates
• Term deposits (Depósitos a Plazo Fijo) in both Bolivianos and US Dollars
• Children's savings accounts
• Retirement savings accounts

Credit Products:
• Consumer loans
• Housing loans
• Productive/business loans
• Individual microloans

Payment Services:
• Public utility payments (EPSAS water service in La Paz, SEMAPA water service in Cochabamba)
• Telecommunications (ENTEL, TIGO, VIVA, COTAS - prepaid and postpaid services)
• Insurance payments (Alianza Grupo Asegurador, BISA Seguros)
• Online service payments (Tumercadazo.com, Incribete.net, Uber for drivers, Service Web, Confia)
• Medical services (Emercom SRL emergency services)
• University tuition payments (Universidad Privada Domingo Sabio)

Money Transfer Services:
• Western Union domestic and international money transfers

Question 6

What makes Societaria Unión Santiago de Machaca (USAMA) R.L. unique?

Accepted Answer

USAMA R.L. stands out for its deep roots in the Aymara community and its commitment to serving indigenous populations in both urban and rural settings. The cooperative was born during Bolivia's economic crisis of the 1980s as a grassroots solution to financial exclusion, reflecting the Aymara tradition of mutual aid and community solidarity.

The cooperative's name itself honors Santiago de Machaca, a rural locality in the altiplano that represents the ancestral homeland of many members who have migrated to El Alto and La Paz. This connection maintains the cultural and economic ties between urban migrants and their rural communities.

USAMA R.L. operates under ASFI supervision since 2017, providing members with the security and confidence of regulated financial services while maintaining the cooperative's community-focused approach. The institution has successfully bridged traditional cooperative values with modern financial regulations.

The cooperative's longevity—operating for over 35 years—demonstrates its resilience and relevance to a community that has experienced significant social and economic transformation during this period.

Question 7

What type of financial institution is Societaria Unión Santiago de Machaca (USAMA) R.L.?

Accepted Answer

USAMA R.L. is classified as a Cooperativa de Ahorro y Crédito Societaria (Societal Savings and Credit Cooperative) under Bolivian financial regulations. This designation was formalized through the Statute registered with number 4216 under the General Law of Cooperative Societies.

In Bolivia's financial system, cooperatives are member-owned financial institutions that operate on cooperative principles of democratic control and mutual benefit. Societarias, specifically, are cooperatives that have transitioned to ASFI supervision under Law 393 (Financial Services Law) and Law 3892, which brought previously unsupervised closed cooperatives under regulatory oversight.

As a regulated cooperative, USAMA R.L. is authorized to conduct savings and credit operations with both members and the general public, distinguishing it from purely closed cooperatives that serve only members. The ASFI supervision ensures the cooperative meets capital adequacy, liquidity, and consumer protection standards similar to other financial intermediaries in Bolivia's financial system.

Societaria Unión Santiago de Machaca (USAMA) R.L.

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About Societaria Unión Santiago de Machaca (USAMA) R.L. in Bolivia