Question 1

What is Cooperativa de Ahorro y Crédito Parroquia San Lorenzo Trujillo?

Accepted Answer

Cooperativa de Ahorro y Crédito Parroquia San Lorenzo Trujillo (commonly known as CAC San Lorenzo) is a Level 2 savings and credit cooperative based in Trujillo, Peru. The institution is a member of the FENACREP (National Federation of Savings and Credit Cooperatives of Peru) and operates under the supervision of the Superintendency of Banking, Insurance and AFP (SBS) through the Superintendencia Adjunta de Cooperativas (SACOOP).

As a Level 2 COOPAC, the institution has total assets between 600 and 65,000 UIT (Tax Unit of Reference) and is authorized to perform Level 2 operations under Peru's modular cooperative banking framework.

Question 2

When was Cooperativa de Ahorro y Crédito Parroquia San Lorenzo Trujillo founded?

Accepted Answer

The cooperative was founded on May 28, 1958, making it one of the older savings and credit cooperatives in the La Libertad region of Peru. The institution was established to serve the financial needs of the San Lorenzo parish community in Trujillo.

The cooperative was formally registered with the SBS National Registry of Cooperatives on February 7, 2019, receiving registration number 000008-2019-REG.COOPAC-SBS, following the implementation of Law 30822 which established regulatory oversight of COOPACs.

Question 3

Where is Cooperativa de Ahorro y Crédito Parroquia San Lorenzo Trujillo headquartered?

Accepted Answer

The cooperative's main office is located at Jr. Ayacucho No. 780 in the center of Trujillo, in the La Libertad region of Peru. Contact information includes telephone numbers 044-243951, 044-222936, and 044-202653, as well as email addresses marketing@cacsanlorenzo.pe and gerencia@sanlorenzotrujillo.com.

Question 4

Where does Cooperativa de Ahorro y Crédito Parroquia San Lorenzo Trujillo operate?

Accepted Answer

The cooperative primarily operates in Trujillo and the surrounding areas of the La Libertad region in northern Peru. As a community-based financial institution, its operations are concentrated in serving the local population and businesses in this metropolitan area.

Question 5

What services does Cooperativa de Ahorro y Crédito Parroquia San Lorenzo Trujillo offer?

Accepted Answer

As a Level 2 COOPAC, the institution offers a range of financial intermediation services to its member-owners, including:

Savings Products: Various savings account options for cooperative members to deposit and grow their funds.

Credit Services: Lending products for personal, consumer, and small business financing needs, subject to credit evaluation.

Membership Services: Cooperative membership benefits and participation in the democratic governance structure.

The cooperative operates under the regulatory framework established by the SBS, which governs permissible operations for Level 2 institutions.

Question 6

What makes Cooperativa de Ahorro y Crédito Parroquia San Lorenzo Trujillo unique?

Accepted Answer

The cooperative has demonstrated remarkable resilience in overcoming significant financial challenges. In November 2021, the SBS intervened in the institution due to a total loss of capital and cooperative reserves, reporting negative patrimony of approximately S/ 29 million.

However, within 45 days, the cooperative successfully reversed this situation through an extraordinary member effort. Cooperative members voluntarily authorized the conversion of approximately 50% or more of their deposits into individual capital contributions, effectively recapitalizing the institution.

This action allowed the SBS to lift the intervention on January 14, 2022 (Resolution SBS No. 00148-2022), demonstrating the cooperative's strong member commitment and the effectiveness of the mutual aid model.

Question 7

What type of financial institution is Cooperativa de Ahorro y Crédito Parroquia San Lorenzo Trujillo?

Accepted Answer

Cooperativa de Ahorro y Crédito Parroquia San Lorenzo Trujillo is a Cooperativa de Ahorro y Crédito (COOPAC), which is a savings and credit cooperative. In Peru, COOPACs are member-owned financial cooperatives that provide financial intermediation services to their members.

COOPACs are distinct from banks and are classified under a modular regulatory system established by Law 30822. As a Level 2 COOPAC, the institution operates under specific asset size thresholds and operational permissions defined by the SBS. These institutions are not authorized to capture resources from the general public but serve their cooperative membership base.

The cooperative structure means that members are both owners and users of the institution's services, participating in democratic governance through assemblies and elected boards.

Question 8

What regulatory oversight does Cooperativa de Ahorro y Crédito Parroquia San Lorenzo Trujillo face?

Accepted Answer

Following the implementation of Law 30822 in 2019, COOPACs in Peru came under the formal supervision of the Superintendency of Banking, Insurance and AFP (SBS), specifically through the Superintendencia Adjunta de Cooperativas (SACOOP).

The cooperative must comply with reporting requirements established in the Manual de Contabilidad para las Cooperativas de Ahorro y Crédito, submitting monthly and quarterly financial and supplementary information to the SBS. The regulatory framework includes provisions for special regimes including intervention and liquidation in cases of financial distress.

Additionally, under regulations implemented in 2022, COOPACs began contributing to the Fondo de Seguro de Depósitos (Deposit Insurance Fund), which provides protection for member deposits starting in 2024.

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