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| Evandro Piedade do Amaral – President of Cocre |
Unlike traditional financial institutions, credit unions have people at the center of their existence. In this case, not people as customers, but rather as associates of the institution and who, therefore, are also owners.
But that's all you already know. What you may not yet know is that cooperatives have become one of the fastest growing and most outstanding business models in the financial sector in the post-Covid-19 crisis period (which, despite not having completely ended, shows signs of disappearing).
A study by Sebrae recently carried out together with the Getúlio Vargas Foundation shows that the success rate in lending credit to small and micro companies throughout the pandemic was 31% in cooperatives. This number is the highest of all compared to 12% of private banks and only 9% of public banks.
That is, at the moment when they most needed it, people could count on cooperatives. And it is precisely because of this care and support that today, in the post-crisis period, they grow and gain more and more notoriety and associates.
In addition, cooperatives place financial education at the center of their strategies. This means that the purpose of these institutions is focused on the financial development of their members, helping each one of them with their needs, as well as seeking to teach and educate each one financially, so that there is justice related to money.
Because of this, credit unions have been gaining prominence and should grow even more in the post-crisis period. More attractive rates, personalized service and a focus on people are demands that the market demands, especially after a crisis that rocked the economy around the world.
Tags:
Finance
