The Superintendency of Banking, Insurance and AFP (SBS) resolved to dissolve 11 savings and credit cooperatives (Coopac) nationwide, in addition to subjecting 1 to an intervention regime.
The dissolved COOPACs are Edificare Limitada, Crediefectiva, Clave, Chumbivilcas, Sol Credit Perú, San Román Andina, Perú Kolque e Inversiones, Limata Limitada, Invercoop, Corporación Unión, and Unión del Sur.
For its part, the cooperative that will be subjected to intervention by the SBS will be Corazón del Pueblo.
The COOPACs that will be dissolved will follow the legal procedure for their extinction in the market: their movements will be frozen and two representatives will be appointed in each one to take charge of the administrative procedure, on behalf of the SBS.
Savings and Credit Cooperatives Not Authorized to Raise Resources from the Public (Coopac) are associative entities that are dedicated to capturing savings and granting loans to their cooperative members.
The effective supervision of the Coopac by the SBS began on January 1, 2019, with the entry into force of Law No. 30822 (Coopac Law). Before that, they were subject to the supervision of the National Federation of Savings and Credit Cooperatives of Peru – Fenacrep.
Source: Larepublica
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