Cooperative financial institution has more than one million associated companies, with the majority of the base made up of micro and small companies
The Cooperative Credit System (Sicredi) plans to increase its base of legal entity (PJ) members by 17% in 2023. Of the more than one million PJ members in Brazil, 74% are micro and small companies; 22% individual microentrepreneurs (MEI) and 4% medium and large companies. The representation among smaller companies is so significant that, of the more than 1.1 million small companies in Brazil, 25% are currently associated with the institution.
The increase follows the trend pointed out by the Central Bank (BC), when indicating that members (PF and PJ) of credit cooperatives already totaled 15.6 million in December 2022, with the growth rate of Legal Entity members being higher than the increase of Individuals. Still according to the BC, companies already account for approximately 15% of the total membership base of credit unions in Brazil. At Sicredi, corporate associates currently represent 14.4% of the base.
Access to lines of credit for business maintenance and expansion with more attractive rates suited to reality, financial consultancy and exemptions are some of the cooperative financial institution’s differentiators.
“The close service and partnership for business and investments offered by Sicredi are attracting more and more companies to credit cooperatives, recognized as an alternative to the traditional financial system. With the proposal of ‘understand to serve’, we offer ideal financial solutions for our members’ businesses, with fair rates and profit sharing. It is worth remembering that the actions of the cooperative financial institution benefit not only the growth of members, but also encompass the community, promoting the development of the local economy”,
says Sicredi’s Business Development director, Ézio Almeida.
He adds that the cooperative financial institution works to further advance this segment in the State, providing companies with solutions that meet their needs.
To support companies, there are more than 300 financial and non-financial solutions, including Cash Flow (acceptance, collection, payroll, payment management and financial management), credit, investments, corporate card, foreign exchange, consortiums, insurance, between others.
In the month of July, the balance of the credit portfolio for companies surpassed the R$62 billion mark in Brazil, with 38% of this amount concentrated in micro and small companies. The corporate credit portfolio represents 35% of the cooperative financial institution’s total credit portfolio.
Sicredi is a cooperative financial institution committed to the growth of its members and the development of the regions where it operates. It has a management model that values the participation of its 7 million associates, who play the role of business owners. With more than 2,500 branches, Sicredi is physically present in all Brazilian states and the Federal District, providing a full range of financial and non-financial solutions.
In the states of Mato Grosso, Pará, Rondônia, Acre, Amazonas, Roraima, Amapá, Pará and some cities in Goiás, Sicredi is present in 240 municipalities and has 311 branches, serving more than 1.152 million members. Sicredi website: www.sicredi.com.br
*With information from consultancy
Lecture for entrepreneurs in Manaus addresses how to achieve well-being and profit
Serasa: 59% of credit card debts are from purchases in supermarkets
More than half of Brazilians say they sought extra credit in the last year, shows Serasa