Sicredi opens branch in Manacapuru with the proposal to promote financial education

Credit

With the opening of the new branch, the institution takes credit cooperatives to more people, promotes financial inclusion and contributes to local development

Manaus (AM) – The cooperative Sicredi Vale do Cerrado MT AM, inaugurated this Wednesday (12), another branch in Amazonas, this time in the municipality of Manacapuru (93 km from the capital of Amazonas). With the opening of the new branch, the institution takes credit cooperatives to more people, promotes financial inclusion and contributes to local development.

Located at Boulevard Pedro Rattes, n.º 516, in the center of the city, the agency has a modern and welcoming design, and is prepared to serve the entire community. Opening hours will be from Monday to Friday, from 8:45 am to 2:30 pm.

“We are very happy with the reception in Manacapuru, the fourth most populous municipality in Amazonas and is located in the metropolitan region of Manaus. It is an important city for the state and for us too, as we seek to be an alternative for people, as we have a complete portfolio of financial solutions, fair rates and focused on members and the community, to promote economic and social development”,

highlighted the president of Sicredi Vale do Cerrado MT AM, Sergio Dezordi.

The Sicredi Vale do Cerrado MT AM cooperative operates in 12 municipalities in Mato Grosso and 39 in Amazonas, with more than 400 employees. With the inauguration in Manacapuru, the cooperative reaches its 21st branch. And the expansion plan continues, to bring the benefits of credit cooperatives to more and more people.

The cooperative’s executive director, Francisco Motta, highlights the value chain that Sicredi creates when it arrives in a location.

“As we offer more affordable rates, our financial solutions contribute to the economy progressing and we have a virtuous cycle, in which the member prospers and, with him, the cooperative and the local community also prosper”, he says. “We are sure that we will see this happen in Manacapuru”,

concludes.

positive impact

The physical presence of financial institutions effectively contributes to the financial inclusion of communities. This is what the fourth study in the series “Benefits of Credit Cooperativism” points out, called “The Effectiveness of Cooperativism”, carried out by Sicredi with the support of researcher Juliano Assunção, from the Pontifical Catholic University of Rio de Janeiro (PUC-Rio), a specialist in Applied Microeconomics and Economic Development.

The survey points out that when evaluating the behavior of associates who now have a branch in their municipality, the average use of products grows 25% in two years, when compared to active associates in municipalities without physical service. After five years, each associate is now served with an average of seven financial products.

And Sicredi’s work benefits not only its members, but the entire community. Another survey that proves this was carried out in partnership with the Economic Research Institute Foundation (Fipe). It shows that cooperativism increases the per capita GDP of municipalities by 5.6%, creates 6.2% more formal job vacancies and increases the number of commercial establishments by 15.7%, stimulating local entrepreneurship.

Confidence and Solidity

Sicredi offers more than 300 financial products in a simple way that is close to members. Throughout Brazil, there are more than 2,400 branches, distributed in more than 100 cooperatives and more than 7 million members. There are also more than 40 thousand employees. Through the cooperative system, members acquire a small share of their cooperative, owning Sicredi, having a voice over business decisions and participating in the results.

With more than 120 years of history, Sicredi is the first cooperative financial institution in Brazil and the second financial institution in credit for agribusiness. In 2022, total assets reached BRL 263.5 billion, an increase of 33.4% compared to the previous year. Shareholders’ equity reached BRL 30.2 billion, up 21.7%. Other important numbers were related to the credit portfolio, which reached R$ 160.6 billion (+20.6%) and R$ 153.9 billion in total deposits (18.8%). The net result for 2022 was BRL 5.9 billion, up 24% compared to the previous year.

*With advisory information

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