Caja SMG
Caja SMG is a Mexican cooperative savings and loan institution (SOCAP) founded in 1960, operating 59 branches across Jalisco, Yucatán, Nayarit, and Quintana Roo. It serves member-owners with savings accounts, personal and commercial loans, fixed-term investments, remittances, and digital banking via CAJANET and the Mi Caja SMG mobile app.
- Company typePrivate
- Founded1960
- HeadquartersEl Grullo, Mexico
- Headcount1–10
- GTM typeB2C
- OfferingServices
What Caja SMG does
Caja SMG, S.C. de A.P. de R.L. de C.V. is a Mexican cooperative savings and loan institution (Sociedad Cooperativa de Ahorro y Préstamo, SOCAP) founded in 1960 in El Grullo, Jalisco. It operates 59 branches across four states — Jalisco (28), Yucatán (26), Nayarit (2), and Quintana Roo (3) — serving members who are simultaneously owners of the cooperative. The product portfolio spans savings accounts (Ordinario, Dinámico, Cuenta Corriente, Profun, Infantil), fixed-term investments (Plazo Fijo from 7 to 720 days), structured savings plans (MiPlan SMG, 3 months to 15 years), and a broad credit catalog including automatic personal loans (8%-14%), mortgage loans (14%-22%), commercial and MiPyME loans (15%-24%), agricultural loans, vehicle financing, and the Línea Express revolving line. Interest income on these loan products is the primary revenue stream, with remittance fees as a secondary stream.
The technology stack is conventional digital banking infrastructure: CAJANET for web banking, the Mi Caja SMG mobile application on iOS and Android (with SPEI transfers and credit access), and SMG_API_COOP, a REST API exposing ATM and branch location data to third-party developers. Distribution combines the 59-branch physical network with self-serve digital channels and partner channels for remittances (Intermex and 24Xoro, integrated with Maxi, Viamericas, and Intercambio Express). The institution is regulated by CONDUSEF and CNBV and is a participant in the UN Global Compact since October 2019, affiliated with the Federación Integradora Central de Cooperativas since April 2024.
Caja SMG firmographics
Firmographics- Name
- Caja SMG
- Legal name
- Caja SMG, S.C. de A.P. de R.L. de C.V.
- Website
- https://cajasmg.com
- Company type
- Private
- Founded year
- 1960
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Caja SMG is a Mexican cooperative savings and loan institution (SOCAP) founded in 1960, operating 59 branches across Jalisco, Yucatán, Nayarit, and Quintana Roo. It serves member-owners with savings accounts, personal and commercial loans, fixed-term investments, remittances, and digital banking via CAJANET and the Mi Caja SMG mobile app.
- Ownership category
- akta.pro rank
Caja SMG industry classification
Industry- Product category
- Cooperative Savings and Loan Banking
- NAICS
- Savings Institutions and Other Depository Credit Intermediation (52218)
- SIC
- Savings Institutions, Not Federally Chartered (6036)
- akta.pro primary industry
- SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)
- akta.pro secondary industries
- SME Lending Platforms & Embedded SME Credit (FSAKAGAJ), Equipment & Asset Finance (SME) (FSAKAGAF)
Keywords
Where Caja SMG is headquartered
LocationHeadquarters
- HQ city
- El Grullo
- HQ country
- Mexico
- HQ region
- Latin America
Offices3 records
Markets served
Caja SMG business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Interest Income from Loans: Caja SMG generates primary revenue through interest charged on various loan products including personal consumption loans (8%-42% annual rates), mortgage loans (14%-22%), commercial/business loans (15%-24%), and agricultural loans (15%). Interest rates vary by product type, term, and borrower profile.
- Savings Deposits: Members maintain savings accounts including Ordinary Savings (1.50% rate), Dynamic Savings (1.00%), Current Account (0.00%), Profun Savings (0.00%), and Children's Savings (2.50%). The cooperative uses these deposits to fund loan operations.
- Fixed-Term Investments: Investment products with terms from 7 to 720 days offering rates from 3.30% to 7.25% depending on amount and duration. Minimum investment of $1,000 pesos with interest paid monthly or at maturity.
- Money Remittance Services: Remittance reception services through Intermex and 24Xoro partnerships, allowing members to receive international transfers from the US and Canada directly to their accounts.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Préstamo Automático 8% - Up to $500,000 with 8% annual rate |
| Subscription | Monthly | Préstamo Automático 12% - Savings + 50% up to credit limit |
| Subscription | Monthly | Préstamo Hipotecario SMG - Up to $6,500,000 with 14% rate |
| Subscription | Monthly | Préstamo MiPyME SMG - Up to $15,000,000 for businesses |
| Subscription | Monthly | Ahorro Ordinario - Savings account with 1.50% annual rate |
| Subscription | Pay-as-you-go | Inversión a Plazo Fijo - Fixed-term investments from 7 to 720 days |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels5 records
Caja SMG product offering
Product offeringCore offering
Caja SMG is a Mexican cooperative savings and loan institution (SOCAP) that provides its member-owners with savings accounts, fixed-term investments, structured savings plans, and a diversified loan portfolio including personal, housing, commercial, agricultural, vehicle, and starter-credit products. The institution distributes these offerings through 59 physical branches across four Mexican states, complemented by digital banking via the Mi Caja SMG mobile app and CAJANET web platform, plus money remittance reception from the US and Canada through Intermex and 24Xoro partnerships.
Product overview
Caja SMG is a cooperative financial institution (Sociedad Cooperativa de Ahorro y Préstamo) offering a comprehensive portfolio of financial products and digital services. The core offering centers on savings accounts (Ahorro Ordinario, Cuenta Corriente, Dinámico, Profun, Infantil), fixed-term investments (Inversión a Plazo Fijo), and structured savings plans (MiPlan SMG). Credit products are organized across three categories: personal consumption loans including Préstamo Automático variants (8%, 12%, 14%), Préstamo de Confianza, CREDICOOP, CREDIMUEBLE, CREDIAUTO, Credimoto, Préstamo Ordinario Personal, Crédito Inicial SMG, and Línea Express; housing loans including Préstamo Hipotecario SMG, Préstamo Lote SMG, and Préstamo Vivienda Ordinario; and commercial loans including Préstamo Comercial Ordinario, Préstamo MiPyME SMG, and Préstamo Agropecuario SMG. Digital banking is delivered through CAJANET online platform and the Mi Caja SMG mobile app for iOS and Android. Money remittance services are provided through Intermex and 24Xoro partnerships. The institution operates 59 branches across Jalisco, Nayarit, Quintana Roo, and Yucatán states in Mexico.
Differentiator
Problem solved
Functional benefit
Brands
- API SMG: An API service provided by Caja SMG for developers to integrate ATM and branch network information into their applications.
- MiPlan SMG
- Recompensas SMG
Quantifiable outcome
- 59 branches serving members across four states
- +3 more outcomes
Companies that use Caja SMG
Customer profileNamed customers2 records
Segments4 records
Ideal customer profiles3 records
Caja SMG technology and API
TechnologyTechnology focussed No
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Caja SMG partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core and minor.
- 24Xoro Remesas y Máscore24Xoro provides remittance connectivity enabling members to receive international transfers from the US and Canada directly to their Caja SMG accounts. The service deposits automatically to member current accounts.
- Federación Integradora Central de Cooperativas de Ahorro y PréstamocoreCaja SMG affiliated to the Central Integrating Federation of Savings and Loan Cooperatives in April 2024, joining the cooperative integration network for shared services and best practices.
- APIMIELminorCollaboration agreement signed with APIMIEL (Asociación de Productores de Miel de la Región), supporting beekeepers with financial services.
- Pagos Intermex (Intermex)coreIntermex is the primary remittance partner enabling money transfers from the US to Mexico. Members can receive remittances at any of the 59 branches commission-free.
- Maxi (Remittance Service)minorAdditional remittance channel partner for 24Xoro service allowing members to receive transfers from the US.
- ViamericasminorRemittance service provider integrated with 24Xoro for US-to-Mexico transfers.
- Intercambio ExpressminorRemittance service provider integrated with 24Xoro for US-to-Mexico transfers.
- Grupo Financiero DesjardinsminorCooperative financial institution from Canada with whom Caja SMG shares its cooperative vision and has engagement activities.
- CUCostaSURminorCooperative educational institution with whom Caja SMG engages for training and development initiatives.
- UNIFAM (Unión Nacional de Federaciones de Cajas de Ahorro y Crédito)coreNational federation of savings and loan credit unions with whom Caja SMG maintains cooperative relationships and receives visits for best practice sharing.
- Caja Popular RosariominorCooperatives sharing best practices and strengthening cooperative ties through mutual visits.
- FIRA and German Savings Banks FoundationcorePartnership between FIRA and the German Savings Banks Foundation (Deutsche Sparkassenstiftung) to promote digital technologies in the cooperative sector, with Caja SMG as a participant.
Scale indicators4 records
Recent moves12 records
Expansion highlights6 records
Caja SMG competitors and assessment
Company assessmentEmerging players
- Nubank México: Nubank México is a digital-first consumer bank offering no-fee accounts, credit cards, and personal loans to underbanked Mexicans. It targets the same financial inclusion demographic as Caja SMG but competes through a mobile-native experience without a branch network, posing a structural threat to traditional cooperatives.
- Klar: Klar is a Mexican digital bank offering high-yield savings accounts, credit lines, and debit cards via mobile app. It competes with Caja SMG's deposit and consumer credit products on convenience and rate, attracting younger members away from the cooperative model.
Direct peers
- Financiera para el Pequeño Productor (FPP) / Covalto: Originally operating as the Financiera para el Pequeño Productor and now part of Covalto, this institution provides microenterprise and SME credit in Mexico with a similar focus on underserved borrowers. It is directly comparable to Caja SMG's agricultural and MiPyME lending products.
- Te Creemos: Te Creemos is a Mexican microfinance SOFOM serving micro-entrepreneurs and individuals with credit and savings products, primarily through partnerships with cooperatives and community networks. It competes with Caja SMG's smaller-ticket consumer and micro-business credit offerings in overlapping Mexican states.
- Caja Popular Mexicana: Caja Popular Mexicana is one of Mexico's largest cooperative savings and loan institutions (SOCAP), operating a similar member-owned model with a multi-state branch network, savings products, and credit offerings aimed at individuals and SMEs. It is the most structurally comparable peer to Caja SMG, though at significantly larger scale.
- Banco Compartamos: Banco Compartamos is Mexico's leading microfinance bank, serving individual and small business borrowers with consumer and SME credit products. It competes directly with Caja SMG's MiPyME, Agropecuario, and personal consumption loan books, though with a much larger geographic footprint and listed-company discipline.
- Caja Morelia Valladolid: Caja Morelia Valladolid is a Mexican savings and loan cooperative offering savings accounts, credit products, and remittance services to members. Its product mix, cooperative governance, and member-owned value proposition closely mirror Caja SMG's operating model, though with a more concentrated regional footprint.
Broad incumbents
- BanCoppel: BanCoppel is a major Mexican commercial bank serving mass-market and SME customers with savings, credit, payroll, and remittance products through an extensive branch network. It competes with Caja SMG across multiple product lines at much greater scale.
- Banco Azteca: Banco Azteca is a major Mexican consumer and SME bank with deep penetration in underbanked regions, offering savings, credit, and remittance services. It represents the scale incumbent that Caja SMG competes against in serving the same lower- and middle-income member base in western Mexico.
- Desjardins Group: Desjardins is a large Canadian cooperative financial group and a confirmed partner of Caja SMG. As a broad cooperative incumbent, it serves as a strategic reference point and operational ally, sharing best practices on cooperative governance, digital banking, and member services relevant to Caja SMG's evolution.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Caja SMG social profiles
Digital presenceCaja SMG financial estimates
Financial estimateRevenue estimate
Valuation estimate
Caja SMG leadership team
Management profileNumber of profiles
Profiles6 records
Caja SMG funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Caja SMG M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Caja SMG
What does Caja SMG do?
Caja SMG is a Mexican cooperative savings and loan institution (SOCAP) that provides its member-owners with savings accounts, fixed-term investments, structured savings plans, and a diversified loan portfolio including personal, housing, commercial, agricultural, vehicle, and starter-credit products. The institution distributes these offerings through 59 physical branches across four Mexican states, complemented by digital banking via the Mi Caja SMG mobile app and CAJANET web platform, plus money remittance reception from the US and Canada through Intermex and 24Xoro partnerships.
Is Caja SMG a public or private company?
Caja SMG is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was Caja SMG founded?
Caja SMG was founded in 1960. It employs 1 to 10 people.
Where is Caja SMG based?
Caja SMG is headquartered in El Grullo, Mexico, in the Latin America region.
How does Caja SMG make money?
Four revenue lines are on record. Interest Income from Loans are the primary driver. The others are savings Deposits, fixed-Term Investments and money Remittance Services.
Who are Caja SMG's main competitors?
Emerging players on record are Nubank México and Klar. Direct peers are Financiera para el Pequeño Productor (FPP) / Covalto, Te Creemos, Caja Popular Mexicana, Banco Compartamos and Caja Morelia Valladolid. Broad incumbents are BanCoppel, Banco Azteca and Desjardins Group.
Does Caja SMG have an API?
Yes. The SMG API enables developers to integrate their sites or applications with information about ATMs available in the network of Caja SMG branches. The API is part of the SMG_API_COOP platform. Developer documentation is at smgapicoop.cajasmg.com/api/docs.
What industry is Caja SMG in?
Caja SMG's product category is Cooperative Savings and Loan Banking. Its primary akta.pro industry code is FSABABAC, SME Deposits & Business Accounts (Operating, Savings, CDs), with a secondary code of FSAKAGAJ, SME Lending Platforms & Embedded SME Credit. Its NAICS code is 52218 and its SIC code is 6036.