What is a Savings and Loan Cooperative?
A SOCAP is a non-profit financial cooperative where its members save, lend, and manage funds democratically. It is regulated by the CNBV, supported by FOCOOP, and supervised by CONDUSEF.
What does our service include?
Legal evaluation and structure
We review the legal viability and define the organization of your cooperative.
Drafting of founding documents
We drafted the articles of incorporation, bylaws, and internal regulations.
Registration in the Public Registry
We manage your registration in the Public Registry of Cooperative Societies.
High tax and before authorities
We register your cooperative with the Tax Administration Service (SAT) and all relevant agencies.
CNBV Authorization
We assist you in the authorization process before the National Banking and Securities Commission (if applicable).
AML/CFT control systems
We design manuals and procedures to prevent money laundering and terrorist financing.
Training for the governing body
We train the board of directors and the supervisory committee in their roles and responsibilities.
Advantages of your SOCAP
1. Preferential credit rates
Access to loans with more favorable conditions than commercial banks.
2. Promotion of community savings
It allows partners to pool their contributions to grow together.
3. Democratic governance
Each member has a voice and vote in decisions and in the distribution of surpluses.
4. Security and legal support
They operate under the supervision of the CNBV, FOCOOP, and CONDUSEF, ensuring trust and compliance.
Who can create a SOCAP?
Rural communities, informal cooperatives, social leaders, religious or educational groups, and social investors or foundations can join together to create a SOCAP and manage savings and credit democratically.
Frequently Asked Questions
How long does the process take?
The incorporation process can take between 3 and 6 months depending on the type of cooperative and whether it seeks authorization from the CNBV.
What obligations do you have to the CNBV and SAT?
It must submit periodic financial reports, comply with tax obligations, file anti-money laundering reports, and undergo internal and external audits.
How many partners are needed to form it?
A minimum of 25 individuals is required as founding partners.
Can a cooperative grow at a regional or national level?
Yes. SOCAPs can operate in various states and open branches, provided they comply with current regulations.
Can a SOCAP operate as a credit institution?
Yes, you can make loans, collect savings, and manage member accounts, but only within the framework permitted by law and your authorized operating level.
Ready to create your financial cooperative?
We'll guide you step by step to ensure your SOCAP operates correctly.
