Defined by the International Cooperative Alliance: A cooperative is an autonomous association of people who have joined voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly owned and democratically controlled enterprise.
Cooperatives are based on the values of mutual aid, responsibility, democracy, equality, equity and solidarity. Following the tradition of its founders, its members believe in the ethical values of honesty, transparency, social responsibility and concern for others.
There are many reasons to make a saving, such as buying a house, taking a trip, enjoying a good retirement or simply attending to unexpected events.
Regardless of your income, you should always allocate a part of these to save; the important thing is to separate the same proportion to turn it into a biweekly or monthly habit. The ideal is to first set aside the money that is going to be saved and apply what is left to pay the financial commitments and expenses acquired, in this way you will always be able to save
The savings represent a support to attend any emergency and will allow a better quality of life in the future. It is much better to consume responsibly in the present and save fixed amounts today, than to live spending more than what is earned and to be always over-indebted. Saving will allow you to live in peace and give you the security and financial independence you need to meet goals and face unexpected events. The habit of saving must become a way of life that guarantees society economic stability, maintaining constant growth and providing tranquility in unfavorable seasons. With the programmed savings it is possible to guarantee a better future for you and the next generations.
The Savings Banks are non-profit social organizations that operate under the legal concept of Cooperative Savings and Loan Societies (SOCAPS). Currently, in order to be entitled to receive the funds from the Members, they must be registered in the Trust Fund. Auxiliary and Protection Supervision of its FOCOOP Savers, www.focoop.com.mx and depending on the total assets, must have the authorization of the National Banking and Securities Commission (CNBV), who supervises them and on its website You can find the authorized SOCAPS registry www.cnbv.gob.mx
The authorization process is established in the Law that Regulates the Activities of the Savings and Loan Cooperative Societies (LRASCAP) and in the Provisions that derive from this law. Having the authorization of the CNBV means that the SOCAPs operate under financial and internal control standards established by the legislation that applies to them, and this allows the savings of the Members to be managed in a prudent manner.
The Savings Banks or SOCAPs, with the authorization of the CNBV, the deposits of the savers, "PARTNERS" are protected by the Trust Fund for Auxiliary Supervision and Protection of their FOCOOP Savers, up to the limits established in the LRASCAP, by this reason, in CONCAMEX we work in coordination with our Affiliated Federations, who represent the Savings and Loan Cooperative Societies, so that the SOCAPs operate in compliance with the law and provide security to our saving members and the population in general.
One of the main reasons for the success of the Savings Banks is: the quality of the services, we provide personalized attention, and the decisions taken are considering the participation of the partners, who are informed each year of the results of the partnership and approve the work plans for each fiscal year.
When you join a Savings Bank, it is very important that you check that it is registered in the FOCOOP and authorized by the National Banking and Securities Commission (CNBV), so that you have the benefits described.
The Safe Savings Bank keeps you informed about the financial situation of the company and you can request a statement of your money at any time, in this way you can be sure that your money is at hand and is generating the return that It was agreed at the time of affiliation.
To belong to a Savings Bank you have to contribute an initial fee (which is part of the social capital of the cooperative) and in return they give you a certificate that accredits you as a member. If you later decide to leave society, your contribution will be returned to you along with your savings, as long as you have not left them in guarantee of a loan that you have in force.
The SOCAPS, Cooperatives or Savings Banks authorized by the CNBV, are part of the Mexican Financial System and comply with the legal requirements established by the authority that regulates all the institutions that are part of it. They are members of the Mexican Financial System: SOCAPs, BANKS, SOFIPOS, brokerage firms, insurers, among others.
The Savings and Loan Cooperatives do not have clients but partners, that is, there is not a single beneficiary of the positive results that are generated "surpluses" in each fiscal year, which are destined to constitute the funds of: legal reserve, cooperative education and of social work.
The legal reserve fund is constituted by law and is to strengthen the institutional capital and be able to face possible losses.
The purpose of the Cooperative Education Fund is to continue fostering cooperative training and financial education for members and our society.
The fund of social work, is intended for the benefit of partners through: school scholarships, training programs in productive activities, support for funeral assistance in case of death of the partner, donations to public institutions and civil associations that promote education , health care as Mexican Red Cross. Resources are also allocated from this fund for activities that take care of the environment and improvements to the community, among others.
An informed society, makes better decisions.
The Cooperatives promoting the economy of Mexicans.