Question 1

What is Sicoob Credisc?

Accepted Answer

Sicoob Credisc is a credit cooperative (cooperativa de crédito) operating in Santa Catarina, Brazil. Formally known as Cooperativa de Crédito Nossa Senhora do Desterro, it is part of the larger Sicoob system, Brazil's largest cooperative financial system. The institution serves over 14,000 members with approximately R$411 million in assets, R$44 million in equity, and around R$255 million in credit operations as of December 2024.

Sicoob Credisc operates as a mutual credit cooperative, where members are not just customers but owners of the institution. This cooperative structure allows members to participate in decision-making processes and share in the financial results.

Question 2

When was Sicoob Credisc founded?

Accepted Answer

Sicoob Credisc was founded on July 16, 1999, when 35 founding members gathered for the Constituent Assembly. The institution was originally established as the Cooperativa de Economia e Crédito Mútuo da Secretaria da Fazenda do Estado de Santa Catarina (Credisc) to meet the credit needs of employees of the Santa Catarina State Treasury Department.

The cooperative's constitutional documents were approved by the State Commercial Board in September 1999, and the Federal Revenue Service issued the institution's tax identification number that same month. By November 16, 1999, Sicoob Credisc had established its first office on Rua Jerônimo Coelho in Florianópolis.

Question 3

Where is Sicoob Credisc headquartered?

Accepted Answer

Sicoob Credisc is headquartered in Florianópolis, the capital city of Santa Catarina state in southern Brazil. The cooperative moved its main office to its current definitive address at Rua dos Ilhéus, 90, in downtown Florianópolis in 2016, providing improved facilities for member service.

The name "Nossa Senhora do Desterro" (Our Lady of Exile) is a historical reference to Florianópolis, as this was the city's original name before it was changed in 1894.

Question 4

Where does Sicoob Credisc operate?

Accepted Answer

Sicoob Credisc operates primarily in the Greater Florianópolis region of Santa Catarina. The cooperative has expanded significantly from its single founding office to include 10 branches and service points across the state.

In Florianópolis, branches are located in neighborhoods including Santa Mônica, SC-401 (Corporate Park Condominium), Canasvieiras, Capoeiras, and Lagoa da Conceição. The cooperative also maintains service points in São José (Forquilhinha neighborhood) and Joinville, extending its reach to serve members throughout the region.

Question 5

What services does Sicoob Credisc offer?

Accepted Answer

Sicoob Credisc offers a comprehensive portfolio of financial services typical of Brazilian financial institutions. Personal banking services include current accounts, savings accounts, personal credit, credit cards, debit cards, and investment products. The cooperative also provides specialized accounts for children and adolescents aged 0-17 years.

For businesses, Sicoob Credisc offers corporate accounts, working capital financing, payment processing solutions (maquininha), and commercial credit lines. Additional services include insurance products, pension plans (previdência), financial advisory through free financial clinics, and consortium programs for vehicle and property purchases.

Digital banking capabilities are available through the Sicoob mobile app and online banking platforms, enabling members to perform transactions, access services, and manage their accounts remotely.

Question 6

What makes Sicoob Credisc unique?

Accepted Answer

Sicoob Credisc distinguishes itself through strategic growth via incorporation of other cooperatives. In 2009, it incorporated Crediagro (the cooperative serving employees of the State Agriculture Department), expanding its membership to approximately 3,500 members. In July 2011, the cooperative successfully merged with Crediban (Cooperativa de Crédito dos Bancários da Grande Florianópolis), further strengthening its position.

A significant milestone occurred in 2016 when Sicoob Credisc transitioned from a restricted-membership cooperative to a free-admission cooperative (livre admissão), allowing any individual or business in Florianópolis and São José to become members. To honor this expansion and the capital city of its origin, the cooperative adopted the historical name "Cooperativa de Crédito Nossa Senhora do Desterro."

The cooperative has demonstrated consistent growth, achieving a 25% increase in overall results in 2023, and has expanded its physical presence by inaugurating five new branches between 2019 and 2024.

Question 7

What type of financial institution is Sicoob Credisc?

Accepted Answer

Sicoob Credisc is a cooperativa de crédito mútuo (mutual credit cooperative), a specific type of financial institution recognized under Brazilian law. Credit cooperatives in Brazil are fully regulated financial institutions supervised by the Central Bank of Brazil (Banco Central do Brasil) and operate within the National Financial System with the same legal powers as traditional banks.

As a mutual credit cooperative, Sicoob Credisc operates on democratic principles where each member has one vote regardless of their capital contribution. Members are simultaneously owners and users of the institution, participating in governance through general assemblies and sharing in the cooperative's financial results (sobras). This structure differentiates credit cooperatives from commercial banks, as profits are distributed among members rather than external shareholders, and the institution's primary purpose is to serve member needs rather than maximize shareholder returns.

Sicoob Credisc is affiliated with the Sicoob System (Sistema de Cooperativas Financeiras do Brasil), which is Brazil's largest cooperative financial system with over 4.6 million members nationwide.

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