As part of the responsibility and trust placed in our associates, Coopealianza is part of the 12 financial cooperative institutions that make up the Savings Guarantee Fund (FGA Confía).
This fund is made up of the resources of cooperative financial institutions that raise resources from the public, and its purpose is to guarantee and protect sight savings, as well as time and fixed term certificates of deposit from associates.
Currently, 12 of the 59 savings and credit cooperatives in the country participate in the Savings Guarantee Fund; that represent 92,39% of the assets of the cooperatives supervised by the General Superintendence of Financial Entities (Sugef).
The FGA began operating on October 1, 2018, and was released this Wednesday, December 5 at the national level. The initiative supports more than 500 thousand saving associates who are part of the following cooperatives: Coopealianza, Coopenae, Coocique, Coopeservidores, Coopecaja, Coopeande1, Coopebanpo, Coopecar, Credecoop, Coopemep, Coopemédicos and Coopeasamblea.
In a first phase, coverage is up to ₡ 6.250.000 per member, that is, in case the money needs to be reimbursed, 100% of the savings of around 94% of the members of the cooperatives will be protected involved in the project.
The resources contributed in the medium term will allow us to count on an important fund, which will allow, in the event of liquidity problems or other circumstances of a financial nature, to be a rescue tool so that the savers of the cooperatives do not lose their resources.
Important data:
FGA CONFÍA is the first figure of this type that exists in the country, which protects private financial entities in the cooperative sector. The Fund has an initial capital of $ 5 million, coming from a contribution from the cooperatives that are currently part of this project.