FINANCOOP

What FINANCOOP does

FINANCOOP (Caja Central Financoop) is a second-floor cooperative financial institution headquartered in Quito, Ecuador, founded in June 1999 by 13 cooperatives under Ecuador's Cooperatives Law with initial capital of USD 7,696.00, at the initiative of DGRV. The institution exclusively serves Cooperativas de Ahorro y Crédito (credit unions) and Mutualistas de Ahorro (mutual savings banks), operating a B2B2C model where these 138 member institutions are both shareholders (socios) and distribution channels reaching end-members across all Ecuadorian provinces.

The core product portfolio comprises credit facilities (Crédito Multiuso, Crédito de Liquidez, Crédito de Compensación, and bilateral BCE lines), savings and investment products (Cuenta de Ahorro Rentable, Depósitos a Plazo Fijo), and a transactional services ecosystem including electronic check compensation (24-hour clearing), public/private bill payments via Red Facilito, government social payments (Bono de Desarrollo Humano), alimony collections (SUPA), and remittances through Western Union and Ecua Giros. Underlying technology centers on three digital platforms: Cooperativa Digital (a white-label cloud platform enabling member institutions to offer branded web/mobile banking, fully customizable with cooperative branding), Financoop en Línea (institutional online portal), and REDCOOP (transactional services network), all integrated with the Banco Central del Ecuador (BCE) payment system, BANRED's Mi Billeta Móvil mobile wallet, and SRI tax authority infrastructure.

FINANCOOP's business model is primarily spread-based on interest-rate differentials across credit, savings, and fixed-term investment products, supplemented by transactional commissions on payment and remittance services, and capital market activity including Títulos Genéricos (registered February 2021 in the Securities Market Registry) and Bonos Sociales (Social Bonds, Resolution 6406-2026). Many core services—including electronic check compensation—are provided at zero cost to member institutions to strengthen the cooperative system, while commissions are earned on transactional volume. The institution operates under SEPS regulatory supervision, holds an AAA risk rating (most recently certified June 2026, upgraded from AA+), and participates in the COSEDE deposit insurance system. No venture capital, private equity, or public shareholders exist; governance is exercised by elected Boards of Administration and Surveillance from the member institutions.

Name

FINANCOOP

Legal name

Central de Crédito Cooperativo Financoop

Website

https://financoop.net

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

11–50 employees

Short description

FINANCOOP is a Quito-based second-floor cooperative financial institution serving 138 Ecuadorian Cooperativas de Ahorro y Crédito and Mutualistas with credit facilities, savings products, and a digital banking platform (Cooperativa Digital, REDCOOP).

Ownership category

akta.pro rank

Headquarters

HQ city

Quito

HQ country

Ecuador

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Others, Marketing or Sales

Revenue model

1. Credit/Loan Operations: FINANCOOP provides various credit lines to member Cooperativas and Mutualistas including: Crédito Multiuso (multi-purpose credit), Crédito de Liquidez (liquidity credit), Crédito de Compensación (compensation credit for transactional service gaps), and bilateral credit lines with the Central Bank of Ecuador (BCE). Revenue generated through competitive interest rates on these credit facilities.
2. Savings Accounts: Profitable savings accounts with excellent interest rates on savings with terms up to 29 days. Revenue derived from interest rate spreads between what is paid to member institutions and what is earned through investments.
3. Fixed-Term Investments: Fixed-term deposits (depósitos a plazo fijo) offered to member institutions with high interest rates. These can be used as collateral for credit operations. Revenue generated through investment returns and collateral management.
4. Transactional Services: Platform fees for services including electronic check compensation, public/private service payments (water, electricity, telephone, internet, SRI, municipality), human development bonus payments (Bono de Desarrollo Humano), alimony collections (SUPA), and remittances via Western Union and Ecua Giros. Some services charge competitive commissions to member institutions.
5. Social Bond Issuance: Issuance of social bonds (Bonos Sociales) such as the 'Bonos Sociales para el Impulso al Financiamiento a las Mujeres' targeting women's financing. Revenue through capital market instruments.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

FINANCOOP is a second-floor cooperative financial institution that provides specialized credit facilities (multi-purpose, liquidity, and check-compensation lines), savings accounts, fixed-term deposits, and a portfolio of transactional services (24-hour electronic check compensation, public/private bill payments, government social benefit disbursement, alimony collection via SUPA, and remittances via Western Union and Ecua Giros) exclusively to its 138 member Cooperativas de Ahorro y Crédito and Mutualistas de Ahorro in Ecuador. It also operates the white-label Cooperativa Digital platform providing member institutions with branded web and mobile digital banking channels, plus the Financoop en Línea portal and REDCOOP transactional services network, and issues Títulos Genéricos and Bonos Sociales (social bonds including a women-financing social bond).

Product overview

Financoop is a second-floor cooperative financial institution providing specialized financial products and services exclusively to Cooperativas de Ahorro y Crédito and Mutualistas de Ahorro in Ecuador. The portfolio consists of a unified platform architecture centered on credit products (Crédito Multiuso, Crédito de Liquidez, Crédito de Compensación, Línea de Crédito Bilateral con BCE), savings and investment products (Cuenta de Ahorro Rentable, Inversiones/Depósitos a Plazo Fijo), and transactional services (Compensación Electrónica de Cheques, Pagos y Cobros, Remesas y Giros). Core digital infrastructure includes Cooperativa Digital (a cloud-based multi-channel platform for web and mobile banking), Financoop en Línea (online banking portal), and REDCOOP (transactional services network). Social finance offerings include Bono de Desarrollo Humano, Pensiones Alimenticias-SUPA, and Títulos Genéricos. All products serve the cooperative ecosystem of 138 member institutions founded in 1999.

Differentiator

Problem solved

Functional benefit

Brands

• Cooperativa Digital: Digital service operated by FINANCOOP enabling member cooperatives and savings banks to offer virtual channels (web, mobile app) for account management, transfers, payments, and collections.
• Financoop en Línea
• REDCOOP

Products and services

• Crédito Multiuso Pre-qualified multi-purpose credit line offered by FINANCOOP to member Cooperativas de Ahorro y Crédito and Mutualistas de Ahorro, with competitive interest rates and flexible terms, designed to meet institutional capital needs.
• Crédito de Liquidez Liquidity credit facility from FINANCOOP that supports member institutions in maintaining cash flow for normal operations, with immediate access to funds.
• Crédito de Compensación Compensation credit line from FINANCOOP available to cover mismatches in compensation of transactional services, with terms up to 7 days.
• Línea de Crédito Bilateral con BCE Bilateral credit line maintained with the Central Bank of Ecuador (BCE) to support member institutions during liquidity gaps in the compensation chambers and BCE payment system.
• Cuenta de Ahorro Rentable Profitable savings account offered by FINANCOOP to member institutions with excellent interest rates on deposits up to 29 days, providing competitive returns while maintaining availability.
• Inversiones (Depósitos a Plazo Fijo) Fixed-term deposits (depósitos a plazo fijo) offered by FINANCOOP to member institutions with high interest rates, pre-cancellation option, and use as loan collateral.
• Compensación Electrónica de Cheques Electronic check compensation service operated by FINANCOOP via REDCOOP, enabling member institutions to cash checks within 24 hours including ATM deposits, free of charge to member institutions.
• Cooperativa Digital White-label cloud-based digital banking platform operated by FINANCOOP, enabling member cooperatives and mutualists to offer virtual channels (web and mobile applications) for savings accounts, fixed terms, loans, credit lines, transfers, payments, and collections. Portals and applications are personalized for each institution with their own colors, logos, texts, and images.
• Financoop en Línea Online banking platform from FINANCOOP enabling member institutions to manage their products and access services anytime and anywhere, available at enlinea.financoop.net.
• REDCOOP Transactional services platform from FINANCOOP providing member institutions with access to the institution's payment and compensation services network, including electronic check compensation, payments, collections, remittances, and giros.
• Pagos y Cobros de Servicios Públicos y Privados Bill payment and collection service from FINANCOOP for public and private utilities (water, electricity, telephone, internet, SRI taxes, municipality, ANT) processed through the REDCOOP platform and Red Facilito network.
• Bono de Desarrollo Humano Government social payment service operated by FINANCOOP enabling member institutions to disburse human development bonuses (Bono de Desarrollo Humano) and pensions at cooperative branches with zero investment and maintenance cost and competitive commissions.
• Pensiones Alimenticias - SUPA SUPA alimony collection service from FINANCOOP allowing member institutions to collect child support (pensiones alimenticias) payments at their windows through the cooperative financial platform.
• Remesas y Giros International and domestic remittance and giro service from FINANCOOP enabled through partnerships with Western Union and Ecua Giros, allowing member institutions to act as representation points for sending and receiving money transfers with zero investment and maintenance costs and competitive commissions.
• Títulos Genéricos de Financoop Generic securities (Títulos Genéricos) issued by FINANCOOP and inscribed in the Catastro de Mercado de Valores on February 4, 2021 by the Superintendencia de Compañías, used for capital raising through the securities market.
• Bonos Sociales para el Impulso al Financiamiento a las Mujeres Social bond issuance (Bonos Sociales) from FINANCOOP under Resolución 6406-2026, targeting financing for women and supporting female entrepreneurship through member cooperatives, with an official regulatory framework for social impact financing.
• Mesa de Ayuda Help desk service from FINANCOOP for member institutions to resolve queries and service requests through an online ticketing system available at soportefinancoop.myservicetonic.com.
• Plataforma Virtual Financoop Aprendizaje Integrador Virtual learning platform (Plataforma Virtual Financoop Aprendizaje Integrador) launched in 2022 by FINANCOOP providing training for cooperative staff and members.
• Financoop Sostenible (Crédito Verde) Green credit line 'Financoop Sostenible' (Crédito Verde) launched in 2022 as a pilot by FINANCOOP providing sustainable financing for member cooperatives focused on environmental projects.

Quantifiable outcome

• Electronic check compensation completed in 24 hours
• +2 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature5 records

Partnerships

Eight partnerships are on record, tiered core and foundational.

• Western UnioncoreTechnology or IntegrationWestern Union partnership enables member institutions to offer international remittance services including payments and remittance collections at competitive commissions. Zero investment and maintenance costs for member institutions.
• Ecua GiroscoreTechnology or IntegrationPartnership for national and international remittance and giro services. Allows member institutions to be representation points for sending and receiving money transfers with zero investment costs.
• Banco Central del Ecuador (BCE)coreTechnology or IntegrationIntegration with BCE enables interbank transfers and credit card payments processing through the Central Bank. Also provides bilateral credit lines to cover liquidity gaps in check compensation chambers and liquidity in BCE's central payment system.
• BANRED (Mi Billetera Móvil)coreTechnology or IntegrationIntegration with Mi Billetera Móvil of BANRED enables collections for pensions, school fees, and mobile wallet payments. Core component of Cooperativa Digital ecosystem.
• Red FacilitocoreTechnology or IntegrationIntegration with Facilito network enables payment processing for public and private services (water, electricity, telephone, internet, SRI, municipality, ANT) through member institution counters.
• COSEDE (Corporación del Seguro de Depósitos)coreOthersCOSEDE is the deposit insurance corporation. FINANCOOP participates in the deposit insurance system protecting member institution deposits.
• DGRV (Cooperatives Confederation)foundationalStrategic or Co-development PartnerDGRV proposed the initiative to create FINANCOOP in 1999, developed the technical proposal and Statute project that allowed the founding of the institution with 13 cooperatives. Provided foundational support for the cooperative second-floor financial system.
• SEPS (Superintendencia de Economía Popular y Solidaria)coreOthersSEPS is the regulatory body for the Popular and Solidarity Economy. FINANCOOP operates under SEPS supervision and has received regulatory approvals for statutes and governance.

Scale indicators4 records

Recent moves9 records

Expansion highlights6 records

Broad incumbents

• Desjardins Group: One of the world's largest cooperative financial groups, operating a federated model of credit unions in Canada with second-floor infrastructure, digital platforms, and centralized services. Comparable cooperative philosophy at much greater scale.
• Rabobank: Global cooperative bank rooted in Dutch agricultural and member-owned credit structures; operates second-tier wholesale services to affiliated cooperative members and shares FINANCOOP's DNA as a member-owned cooperative financial institution.

Direct peers

• Banco Cooperativo Español: Spain's cooperative central infrastructure (Grupo Caja Rural) providing second-tier credit and digital banking services to member credit cooperatives. Closest European structural analog to FINANCOOP's second-floor model.
• Banco Cooperativo Brasileiro (Bancoob): Brazil's central cooperative bank serving Sistema de Cooperativas de Crédito through credit intermediation, transactional platforms, and digital channels. A scaled version of FINANCOOP's model in a larger Latin American cooperative ecosystem.
• Credit Union Central of Canada (Central 1): Canadian central credit union providing wholesale banking, liquidity, digital, and payments services to member credit unions. Operates a near-identical second-floor model to FINANCOOP in a more developed market.
• Coopcentral: Colombia's central cooperative financial institution providing wholesale credit, treasury, and digital services to member cooperatives. Operates the same second-floor cooperative model targeting a similar institutional customer base in Latin America.
• Confianza (Caja Central de Ahorro y Crédito): Peru's central cooperative savings institution serving credit unions and mutual funds under a second-floor model closely parallel to FINANCOOP's structure in Ecuador. Both are member-owned cooperative centrals providing credit, deposit, and transactional services to first-tier cooperatives.
• Co-operative Bank of Kenya: Kenyan cooperative bank owned by cooperative societies and serving member institutions with deposit, credit, and digital banking services. A geographically distant but structurally analogous cooperative-financial institution model.

Others

• DGRV (Deutscher Genossenschafts- und Raiffeisenverband): German cooperative and Raiffeisen federation that proposed and technically sponsored FINANCOOP's founding in 1999. Operates cooperative second-tier and apex institutions globally and serves as a direct ecosystem enabler and methodology partner.
• World Council of Credit Unions (WOCCU): International trade association and development organization for the global credit union movement, working with second-tier cooperative institutions including FINANCOOP. Industry body setting standards and enabling cross-border cooperative integration.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCVXdi4ram7Lf3mKMISj6D5w
• Facebookfacebook.com/caja.financoop
• LinkedInlinkedin.com/company/caja-central-financoop

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about FINANCOOP