Southern cooperatives intervened by SBS still do not honor commitments

In 2019, one of the largest credit unionsnofrom the southern region was intervened by the National Superintendence of Banking, Insurance and AFP (SBS). It was PrestaPeruafter knowing that it incurred in the cause of total loss of capital stock. According to SBS, it presented a loss of S/295.83 million. After that, it was dissolved.

In January 2021, the dissolution of Coopac Asia Arequipa was also ordered due to the total loss of share capital.

From this case, several cooperatives have fallen. In January 2022, Credicoop Arequipa was dissolved due to the total loss of its capital of S/199 million and went into liquidation.

In September 2022, the SBS declared the dissolution of two other savings and credit cooperatives —Sayani Ltda. and Finansur Ltda.— due to inactivity.

One of the most recent cases is that of the South American Investment Group Savings and Credit Cooperative, intervened on April 11 of this year.

real estate auction

For the thousands of savers who trusted their money in these cooperatives, the ordeal continues because they have not been able to recover their money. Henry Hurtado, president of the PrestaPerú Savers Association in Arequipa, reported that for now the auction of 82 properties that belonged to the cooperative is being processed.

The action is expected to be executed in the month of July, although the final approval of the Judiciary is still pending. “The objective is that with that money an advance is given to savers. They have calculated that it is 500 soles for each one,” he said. He recalled that the only thing that the members of the cooperatives have received is the S/1,400 that the SBS ordered to be delivered in 2019. What did happen is the payment of benefits to former employees of PrestaPerú.