Cooperativa de Ahorro y Crédito

A Cooperativa de Ahorro y Crédito is a member-owned financial organization that provides banking services like savings accounts, loans, and deposits. Its main goal is to serve its members’ financial needs rather than generate profits. Members contribute to the cooperative and benefit from better interest rates and lower fees. These cooperatives operate democratically, meaning each member has an equal say in decisions. They promote financial inclusion by offering accessible financial services, often to underserved communities. Essentially, they function as community-based financial institutions focused on mutual assistance and economic development among their members.