Question 1

What is COOPEC-EELO?

Accepted Answer

COOPEC-EELO (Coopérative d'Épargne et de Crédit de l'Église Évangélique de Lomé) is a faith-based microfinance institution operating in Togo that provides savings and credit services to its members. Established within the Evangelical Church of Lomé community, COOPEC-EELO is part of Togo's decentralized financial system network and functions as a member of FUCEC-TOGO, the country's oldest and largest credit union network.

The cooperative operates as a Système Financier Décentralisé (SFD), providing financial services primarily to church members and the broader Togolese community. It is regulated under Togolese law and supervised by the Central Bank of West African States (BCEAO) and the Commission Bancaire de l'UMOA.

Question 2

When was COOPEC-EELO founded?

Accepted Answer

COOPEC-EELO was founded on March 3, 1982, making it one of the earlier savings and credit cooperatives established in Togo's microfinance sector. The institution received official authorization from the Togolese State under registration number 076/MEFP/SG/CAS-IMEC on April 23, 2001, and is registered in the decentralized financial system registry under number T/1/GFLM/2001/0068A.

The cooperative was established within the Evangelical Church of Lomé to serve the financial needs of its congregation and has maintained its church affiliation while expanding services to the wider community. Its founding predates the formal regulatory framework for microfinance in Togo, demonstrating its pioneering role in community-based financial services.

Question 3

Where is COOPEC-EELO headquartered?

Accepted Answer

COOPEC-EELO is headquartered in Lomé, the capital city of Togo. The institution maintains its main operations in Lomé, serving as one of the 37 member cooperatives within the FUCEC-TOGO network.

Question 4

Where does COOPEC-EELO operate?

Accepted Answer

COOPEC-EELO operates primarily in Lomé and surrounding areas within the Maritime Region of Togo. As a member of the FUCEC-TOGO network, the cooperative benefits from the network's extensive presence across Togo's five administrative regions, allowing its members to access services through the broader network of over 190 service points nationwide.

The cooperative focuses its direct operations on communities within its geographical area of influence, serving urban and peri-urban populations in and around the capital city. Through FUCEC-TOGO's solidarity mechanisms, COOPEC-EELO participates in the network's liquidity management system and shared service infrastructure.

Question 5

What services does COOPEC-EELO offer?

Accepted Answer

COOPEC-EELO provides a range of microfinance services including savings accounts, credit products, and related financial services. The cooperative offers demand deposit accounts and term deposits, enabling members to build savings securely while earning returns on their deposits.

Credit services include various loan products tailored to member needs, such as personal loans, small business financing, agricultural credit, and education financing. The cooperative operates within FUCEC-TOGO's standardized product framework while maintaining the flexibility to address specific community needs.

As a member of FUCEC-TOGO, COOPEC-EELO participants can access the network's expanded services including mobile banking through Fucec Mobile, money transfers, microinsurance products, and specialized financing programs. Members benefit from financial education and capacity-building initiatives offered through the network.

Question 6

What makes COOPEC-EELO unique?

Accepted Answer

COOPEC-EELO's uniqueness lies in its long-standing history as one of Togo's earliest savings and credit cooperatives, having operated for over 40 years since 1982. The institution has maintained its identity as a faith-based cooperative while serving the broader community, creating a trusted environment for financial transactions rooted in church community values.

As a member of FUCEC-TOGO, COOPEC-EELO benefits from being part of the largest and most established microfinance network in Togo, with over 1.4 million members and 192 billion CFA francs in assets. This affiliation provides stability, shared resources, and access to technical expertise while allowing the cooperative to maintain its local character and community focus.

The cooperative operates on mutual principles where members democratically control the institution through elected representatives and benefit from the financial success of the organization. This member-centered approach emphasizes solidarity, community development, and financial inclusion for populations often underserved by traditional banking institutions.

Question 7

What type of financial institution is COOPEC-EELO?

Accepted Answer

COOPEC-EELO is a Système Financier Décentralisé (Decentralized Financial System), specifically classified as a Coopérative d'Épargne et de Crédit (Savings and Credit Cooperative). This institutional type is regulated under Togolese Law N° 2011-009 of May 12, 2011, which governs decentralized financial systems in Togo.

As a mutual cooperative institution, COOPEC-EELO is owned and governed by its members who exercise democratic control through elected representatives. This cooperative structure distinguishes it from commercial banks and other financial institutions by operating on principles of mutual aid, member benefit, and community solidarity rather than profit maximization for external shareholders. The institution is supervised by the BCEAO and operates within the prudential framework established by the Commission Bancaire de l'UMOA for West African financial cooperatives.

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