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Banking on Cooperative Values

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Chile

2024

The importance of Service experience in the financial industry for cooperative banks and credit unions (COOPEUCH, Chile)

The CIBP SPARK session highlighted COOPEUCH’s innovative “phygital approach,” which combines digital and physical banking services to cater to its diverse membership, now totaling 1.2 million. This strategy has proven particularly effective outside Santiago (Chile), appealing to members over 50 year old who value in-person interactions, despite the rise in digital transactions to 22 million in 2023.

See below for abstract, summary, keypoints and glossary.

Guest speaker:

Carlos Ignacio Orella Laurent: Strategic Planning and Experience Manager (COOPEUCH)

2023

Guest speaker: Pedro Murua: CFO, Responsible for Cooperative’s financial management, including the funding initiatives in local and international markets, COOPEUCH, Chile

The relationship with the Regulator: How Chilean cooperatives remain competitive under strong regulation measures (Part II) by COOPEUCH (Chile)

In a more global world, cooperatives usually participate in the same market with banks, helping to develop of the capital markets and countries where they are.

Nevertheless, it is difficult to imagine the rules applied are not the same just because the different nature of the entities.

Chile, despite of being one of the more developed country in the region, is a good example of this. Central Bank liquidity facilities, including the window discount Access, are reserved only for banks.

This is worst, if we consider rating agencies apply the same worldwide banking methodology to qualify all entities, punishing Chilean cooperatives and its ratings with all reputation and finance consequences.

We will talk about the importance of the regulation and the way that Chilean cooperatives have found to maintain competitiveness, despite unfair rules imposed, and how they have been working with the authorities pursuing a structural change in the system.

2022

Guest speaker: Pedro Murua : CFO, Responsible for Cooperative’s financial management, including the funding initiatives in local and international markets, COOPEUCH

The COOPEUCH relationship with the Regulator (Chile)

How Chilean cooperatives remain competitive under strong regulation measures

In a more global world, cooperatives usually participate in the same market with banks, helping to develop of the capital markets and countries where they are.

Nevertheless, it is difficult to imagine the rules applied are not the same just because the different nature of the entities.

This CIBP SPARK reminds us about the importance of the regulation and the way that Chilean cooperatives have found to maintain competitiveness, despite unfair rules imposed, and how they have been working with the authorities pursuing a structural change in the system.

2021

Guest speaker: Carlos Orella: Strategic Planning and Experience Manager, COOPEUCH, Chile

The distribution of the surplus to members (Chile)

Allocating Surplus in cooperative Business to describe a business’s profit. The distribution of the surplus to its members – result of the previous year- represents a great milestone for COOPEUCH, since it is a moment in which the member experiences concretely one of the great benefits of belonging to our cooperative. For this to be possible, the Meeting of Delegates defines forms of calculations and amounts to be delivered. Being close to the members in this difficult times of pandemic, COOPEUCH brought this Meeting forward to the first days of April, an instance carried out remotely. The total result of 2020 defined to be distributed in 2021 amounts USD$ 74 Millions.

2020

Guest speaker: Christian Patiño: Chief Digital Officer, and Rubén Ulloa, Corporate Development Manager, COOPEUCH, Chile

Digital impact on the growth of cooperative members (Chile)

For the last four years, from the beginning of the 2017-2021 strategic plan, Coopeuch proposed an important challenge to work on Digital Development. This new strategic focus should drive Coopeuch’s growth both in the number of members and in the size of the credit and savings business, also strengthening the experience level of users who are increasingly closer to use of technology. This important work in digital development is already showing clear evidence of the impact on business growth and especially on the scope of services and care that Coopeuch provides to its members, even more so in the tough months of Covid-19 pandemic.

2019

Guest speaker: Carlos Orella: Planning and Experience Manager, COOPEUCH, Chile

Cooperathon (Chile)

Coopeuch shared with the CIBP community their experience in organizing for the first time the Cooperathon in Chile: the largest Social Open Innovation Competition in the world. The event took place in Valparaiso during October and November 2019.

The competition addressed 3 main themes in line with the sustainable development objectives set by the United Nation:

-Finances: for inclusive, accessible and responsible finances

-Health: for an accessible and sustainable health system

-Environment: for a sustainable environment and protection of biodiversity.

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