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Banco Credicoop

 

In 1979, 44 local Argentine credit unions decided to merge into one co-operative non-profit bank, Banco Credicoop. Next to banking services, Credicoop also offers insurances and pension plans. Since 1980, it has also issued the only cooperatively-managed credit card in Argentina.

 

The bank is organized as a credit union: the goal is to provide financial services to its members on the principle of reciprocal aid. The bank is owned by its +670,000 members. Nearly all assets held by the bank stem from its members.  Each member has one vote at all shareholder meetings and the members elect the Board of Directors.

 

The bank also lends to individuals and companies who cannot get credit elsewhere. Among businesses, the bank caters especially to small and medium sized companies. In total, 5% of all loans to small and medium sized businesses in Argentina are provided by Credicoop.

 

Credicoop is now the largest co-operative bank in Argentina, and the ninth largest bank by deposits. It is also seen as the most important co-operative bank in Latin America. In US dollars, the bank’s total assets were valued at 3.1 billion in 2008. The bank has 246 branches across the country. Credicoop is a standing member of the International Co-operative Alliance (ICA).

 

 
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Properties

Type of initiative Bank
Field of work Financial services
Date of commencement 1979
Founder(s)
Legal form
Continent South America
Country Argentina
City Buenos Aires
One or several keywords that describe your initiative co-operative bank, credit union, customer ownership, member ownership
Publications
More information
 

Contact person(s)

Mrs. Irene Glezer

 

Contact information

Name Banco Credicoop
Address Reconquista 484
Zip/postal code C1003ABJ
Place Buenos Aires
State/province
Country Argentina
Phone +54 11 4320 5000
E-mail productos@bancocredicoop.coop
Website www.bancocredicoop.coop

 

 

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