Maquita

What Maquita does

Cooperativa de Ahorro y Crédito Maquita Cushunchic is a member-owned savings and credit cooperative (COAC) headquartered in Quito, Ecuador, regulated by the Superintendencia de Economía Popular y Solidaria (SEPS) and protected by COSEDE deposit insurance. Founded in 1998 with a stated mission of serving microentrepreneurs and households in rural and urban-marginal zones, the cooperative has grown to over 67,000 members and operates nine physical branches across Quito (Quito Sur, Arcadia, Chillogallo, América, Centro, Carapungo, Tumbaco, Matriz) and Portoviejo, with multidisciplinary field teams extending service into Pichincha, Imbabura, and Cotopaxi provinces.

The product platform is structured around three retail segments (individuals/families, microentrepreneurs, and cardholder/discount-program members) and combines savings accounts (Cuenta de Ahorros from a $25 minimum opening balance, programmed savings, youth and children's accounts), a diversified credit suite (Desarrollo Familiar up to $60,000, Crédito Vivienda up to $85,000 with 240-month terms, Credi Futuro educational credit at 9%, microcredits Micro Avanza/Firma Fácil/Credi Plus, loyalty Credi Fiel, and the 2024-launched Crédito Auto Maquita), investment instruments (Pago Único and Pago Periódico certificates of deposit starting at $100 and 30 days), payment services (transfers, IESS, CNT, electricity, municipal, transit, telecom), a co-branded Visa Maquita debit card, and a free financial-education program. Distribution combines the branches with Maquita Electrónica web banking, Maquita Móvil (Android app, Google Play package com.tikee.bmpmaquita), and correspondent-banking reach via BANRED and COONECTA giving access to 6,000+ ATMs and 80,000+ Visa-acceptance merchant POS locations.

The business model is interest-margin-based with recurring transaction fees. Primary revenue is interest charged on credit products (preferential 9% for education, tariff-driven rates for housing, microcredits, and consumption loans); secondary streams include debit-card issuance/renewal at $4.37, replacement and inquiry fees at tariffed rates, and commissions on electronic transfers and ATM access. Deposits drawn from members fund the credit portfolio, and investment certificates (8.5% referenced for one-year terms) recycle balances. The cooperative monetizes through diversified small-ticket financial relationships rather than large enterprise contracts; cumulative credit disbursed exceeds $300 million over 25 years, and reported June 2026 regulatory indicators show liquidity at 21.35% and solvency at 21.68% alongside negative ROE of -18.44%, signaling recent profitability pressure despite operational scale.

Name

Maquita

Legal name

Cooperativa de Ahorro y Crédito Maquita Cushunchic Ltda.

Website

https://maquita.fin.ec

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

51–100 employees

Short description

Cooperativa de Ahorro y Crédito Maquita Cushunchic is an Ecuadorian member-owned savings and credit cooperative (COAC), headquartered in Quito and regulated by SEPS, serving over 67,000 individuals, families, and microentrepreneurs through nine physical branches, field teams across Pichincha/Imbabura/Cotopaxi, and digital banking channels (Maquita Electrónica and Maquita Móvil).

Ownership category

akta.pro rank

Product category

Cooperative Banking and Microfinance

NAICS

Credit Unions (522130), Credit Intermediation and Related Activities (522)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Community Development Credit Unions (CDCUs) (FSABAEAC)

akta.pro secondary industry

Agricultural & Rural Cooperatives (Farm Credit/Co-op Banks) (FSABAEAG)

Keywords

• Cooperative banking
• Savings accounts
• Microcredit loans
• Consumer credit
• Financial education

Headquarters

HQ city

Quito

HQ country

Ecuador

HQ region

Latin America

Offices9 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Interest Income from Credit Operations: Primary revenue from interest charged on various credit products including microcredits, consumer loans, housing loans, and educational loans. Interest rates vary by product type with preferential rates for education at 9%.
2. Account and Service Fees: Fees from savings account maintenance, debit card issuance ($4.37), card renewal ($4.37), replacement ($4.37), annual card renewal ($1.57), printed balance inquiries ($0.31), and bank reference requests per tariff.
3. Investment Returns: Returns from fixed-term deposit certificates (Certificados de Depósito a Plazo) with rates such as 8.5% annual for one-year investments with interest payment options.
4. Electronic Transaction Commissions: Commissions from electronic banking services including transfers and ATM network access through Banred and COONECTA with over 6,000 ATMs and 80,000 merchant point-of-sale locations.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels6 records

Core offering

Cooperativa de Ahorro y Crédito Maquita Cushunchic is a member-owned savings and credit cooperative offering savings accounts, consumer and housing loans, educational and microcredit financing, fixed-term investment certificates, a co-branded VISA debit card, digital banking channels (web and mobile), and bill payment services to individuals, families, and microentrepreneurs in Ecuador. Revenue is primarily generated from interest on loans, account maintenance fees, and debit card services, with the institution regulated by SEPS and protected by COSEDE deposit insurance.

Product overview

Cooperativa de Ahorro y Crédito Maquita Cushunchic is a savings and credit cooperative (COAC) in Ecuador offering a comprehensive suite of financial products and services. The cooperative operates a platform-plus-channel model comprising savings accounts (Cuenta de Ahorros, Ahorro Programado, youth accounts including Ahorro Jóvenes/Ahorro Banquitos/Ahorro Futuro, and Ahorro Peques), credit products (Crédito Desarrollo Familiar, Crédito Auto Maquita, Crédito Credi Fiel, Crédito Credi Futuro, Crédito Vivienda, microcredits, and entrepreneur products including Firma Fácil, Micro Avanza, Credi Plus), investment instruments (Pago Único and Pago Periódico certificates of deposit), a co-branded VISA debit card, digital banking channels (Maquita Electrónica web platform and Maquita Móvil mobile app), payment services, and financial education programs. The cooperative serves over 67,000 members with physical presence in Quito and Portoviejo, and digital services across Pichincha, Imbabura, and Cotopaxi provinces.

Differentiator

Problem solved

Functional benefit

Brands

• Maquita Electrónica: Online banking platform for account access and transactions
• Maquita Móvil
• VISA Maquita

Products and services

• Cuenta de Ahorros (Savings Account) Basic savings account with no maintenance fees, debit card access, automatic monthly interest capitalization, and $25 minimum opening balance. Includes legal deposit guarantee.
• Ahorro Programado (Programmed Savings) Scheduled savings product requiring minimum monthly savings of $5 and minimum 3-month term, with higher interest returns based on savings term and amount. Supports automatic debit from savings account.
• Ahorro Jóvenes (Youth Savings) Savings account designed for young people to learn money management and achieve goals, with debit card access.
• Ahorro Banquitos (Group Youth Savings) Group savings product for youth requiring minimum 2 participants, with automatic debit or direct deposit options.
• Ahorro Futuro (Children's Education Savings) Savings product focused on education funding for children, with automatic debit from traditional savings or direct deposits.
• Ahorro Peques (Children's Savings) Savings account designed for children to teach the importance of saving for their goals.
• Crédito Desarrollo Familiar (Family Development Credit) Personal consumer credit financing up to $60,000 with terms up to 96 months. Offers grace period without collateral requirement, optional guarantor or pledge/mortgage, and monthly debit from savings account.
• Crédito Auto Maquita (Vehicle Credit) Vehicle financing credit with amounts from $300 to $60,000. No guarantor required if debtor or spouse has assets.
• Crédito Credi Fiel (Loyalty Consumer Credit) Loyalty credit for existing members with 2+ cycles at Maquita, financing up to $60,000 without guarantor requirement.
• Crédito Credi Futuro (Educational Credit) Educational credit with preferential 9% rate, minimum $200 amount, minimum 3-month term, and monthly debit from savings account. Available with or without guarantor.
• Crédito Vivienda (Housing Credit) Home loan financing up to $85,000 with terms up to 240 months. Features mortgage guarantee at 120% coverage, flexible payment day selection, and optional partial or full early repayment without fees.
• Firma Fácil (Entrepreneur Signature Credit) Business credit for entrepreneurs with amounts from $1,000 to $60,000, terms from 6 to 96 months, requiring minimum 3 years business stability.
• Micro Avanza (Microcredit for Entrepreneurs) Microcredit for entrepreneurs with amounts from $300 to $60,000, requiring minimum 2 years business stability.
• Credi Plus (Business Expansion Credit) Business expansion credit financing from $300 up to $80,000, requiring more than 3 years business history.
• Credi Fiel Emprendedores (Loyalty Microcredit) Microcredit for established entrepreneurs with terms from 3 to 96 months for cooperative members with business history.
• Tarjeta de Débito VISA Maquita (Debit Card) Co-branded VISA debit card with access to over 6,000 ATMs nationwide, 80,000+ merchant locations internationally, contactless/chip/band payment support, daily withdrawal limit of $300 and purchase limit of $2,000.
• Inversión Pago Único (One-Time Payment Certificate of Deposit) Fixed-term investment with minimum $100 amount, minimum 30-day term, automatic renewal at maturity, and interest paid at end of term at the best available rate. Document is negotiable and endorsable.
• Inversión Pago Periódico (Periodic Payment Certificate of Deposit) Fixed-term investment with flexible interest payment schedules (monthly, quarterly, semi-annual, or annual). Document is negotiable and endorsable.
• Maquita Electrónica (Web Banking Platform) Web-based digital banking platform for account access, internal transfers, interbank transfers, balance inquiries, and credit services. Includes security code sent to registered mobile number for each login.
• Maquita Móvil (Mobile Banking Application) Mobile banking application for Android devices enabling account access, transfers, and transactions on smartphones.
• Transferencias (Transfers) Internal instant transfers between Maquita accounts and interbank transfers to other local institutions within 24 hours, available via Maquita Electrónica and Maquita Móvil.
• Pagos de Servicios (Bill Payment Service) Bill payment service for utilities (IESS, CNT, electricity, water, municipal), transit (ANT), vehicle inspection, and private services (TVCABLE, Claro, DirecTV, DePrati, Movistar).
• Programa de Educación Financiera (Financial Education Program) Free financial education program with 12 chapters taught through Microsoft Forms, covering savings, investment, and responsible financial management. Available free to all members and the broader public.

Quantifiable outcome

• 67,000+ members served as of 2023, growing from initial founding group
• +3 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration14 records

Feature4 records

Partnerships

Two partnerships are on record, tiered core.

• BANREDcoreTechnology or IntegrationEcuadorian interbank network providing ATM access to cooperative members. Maquita debit cards work at BANRED ATMs nationwide for cash withdrawals and balance inquiries.
• COONECTAcoreTechnology or IntegrationEcuadorian payment network enabling debit card acceptance and ATM access. COONECTA processes transactions and communicates with VISA for debit card claim resolution.

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Cooperativa de Ahorro y Crédito Andalucía: Ecuadorian COAC providing savings accounts, credit products, and member services under SEPS oversight. Directly comparable to Maquita's community cooperative model and product mix in the popular and solidarity economy segment.
• Cooperativa de Ahorro y Crédito 23 de Julio: Ecuadorian cooperative offering savings, credit, and investment services to members. Comparable to Maquita in operating model, member-owned governance, and focus on retail and microenterprise financial services under SEPS regulation.
• Cooperativa de Ahorro y Crédito Jardín Azuayo: Ecuadorian savings and credit cooperative operating in the SEPS-regulated popular and solidarity economy sector. Directly comparable to Maquita in member-owned model, microcredit and savings product offering, and community-based mission targeting underserved populations in southern Ecuador.
• Cooperativa de Ahorro y Crédito FINECO: Ecuadorian cooperative under SEPS supervision offering savings, credit, and digital banking to members. Comparable to Maquita as a direct cooperative competitor serving retail and microenterprise members through branches and electronic channels.

Regional players

• BancoSol: Bolivian microfinance bank providing credit, savings, and payment services to microentrepreneurs and small businesses. Comparable to Maquita in microfinance mission and product mix, with regional overlap in serving Andean underserved populations.
• Mibanco: Peruvian microfinance bank serving microentrepreneurs and small businesses with credit, savings, and digital banking. Comparable to Maquita in microcredit focus and underserved-segment targeting, but operates in Peru with a larger commercial microfinance model.

Broad incumbents

• Banco de Guayaquil: One of Ecuador's largest commercial banks providing deposits, consumer credit, and digital banking. Comparable to Maquita as a competing provider of retail savings and credit services in the same Ecuadorian market, with substantially greater scale and resources.
• Produbanco: Major Ecuadorian commercial bank offering retail, SME, and corporate financial services. Comparable to Maquita as a participant in the Ecuadorian credit and deposit market, with a much broader product portfolio and larger branch and digital footprint.
• BanEcuador: Ecuadorian state-owned development bank focused on agricultural, microenterprise, and rural lending. Comparable to Maquita as a microcredit and rural finance provider, but operates with state backing and a national mandate across all provinces.
• Banco Pichincha: Ecuador's largest private bank and dominant retail and SME lender. Comparable to Maquita as an Ecuadorian financial institution serving individuals and small businesses, but operates at far greater scale and is a regulated commercial bank rather than a cooperative.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/CooperativaMaquitaCushunchic
• LinkedInlinkedin.com/company/maquita-cushunchic

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 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 Maquita