Question 1

What is Sicoob Coopere?

Accepted Answer

Sicoob Coopere (formally Sociedade Cooperativa de Crédito Coopere Ltda.) is a Brazilian credit cooperative headquartered in Valente, Bahia, operating as part of the Sicoob System (Sistema de Cooperativas de Crédito do Brasil). Originally founded to serve sisal farmers in the semi-arid region of Bahia, the cooperative has evolved into a free-admission financial institution serving thousands of members across multiple municipalities. It is classified as a classic cooperative by the Central Bank of Brazil and focuses on promoting economic solidarity through financial services for sustainable development.

Question 2

When was Sicoob Coopere founded?

Accepted Answer

Sicoob Coopere was founded on March 3, 1993, and received authorization to operate from the Central Bank of Brazil on September 21, 1993. The cooperative emerged from the Poupança APAEB (Associação dos Pequenos Agricultores do Estado da Bahia savings program), which was created in the late 1980s to provide financial services to small sisal farmers who were excluded from traditional banking. In 1998, the cooperative joined the Sicoob System, and beginning in 2000, it initiated expansion to other municipalities beyond Valente.

Question 3

Where is Sicoob Coopere headquartered?

Accepted Answer

Sicoob Coopere is headquartered in Valente, a municipality in the semi-arid region of the state of Bahia, Brazil.

Question 4

Where does Sicoob Coopere operate?

Accepted Answer

Sicoob Coopere operates across multiple municipalities in the state of Bahia, Brazil. The cooperative began in Valente and has expanded its service area to other cities in the region since 2000, maintaining branches and service points to serve its member communities throughout the Bahia interior.

Question 5

What services does Sicoob Coopere offer?

Accepted Answer

The cooperative provides comprehensive financial services including checking and savings accounts for individuals and businesses, various credit lines tailored to productive activities and personal needs, credit and debit cards, payment processing solutions, insurance products, investment products including RDC (fixed income), money transfer services including PIX, bill payment services, and financial education programs. Sicoob Coopere emphasizes access to rural credit and financial inclusion, particularly for small-scale farmers and entrepreneurs who historically lacked access to traditional banking services.

Question 6

What makes Sicoob Coopere unique?

Accepted Answer

Sicoob Coopere distinguishes itself through its origins in social inclusion and community empowerment, having been created specifically to serve small sisal farmers excluded from traditional banking. The cooperative embodies the principle of economic solidarity, with roots in grassroots agricultural organizing. It has implemented strong governance practices including a dual management model separating the Board of Directors from Executive Management, a delegate representation system for members, and participation in the FGCoop (Cooperative Credit Guarantee Fund). The institution's purpose emphasizes connecting people to promote financial justice and prosperity, reflecting its commitment to regional development.

Question 7

What type of financial institution is Sicoob Coopere?

Accepted Answer

Sicoob Coopere is a cooperativa de crédito clássica (classic credit cooperative) as classified by the Central Bank of Brazil under Resolution No. 4,434/2015. It operates with free admission of members (livre admissão), meaning any individual or business can become a member regardless of profession or economic sector. The cooperative is part of the Sicoob System, Brazil's largest credit cooperative system, which includes over 576 singular cooperatives, 15 central cooperatives, a confederation (Sicoob Confederação), a cooperative bank (Bancoob), and a guarantee fund (FGS). As a member-owned financial institution, Sicoob Coopere operates under cooperative principles where members are both owners and clients.

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About Sicoob Coopere in Brazil