Cooperativas Micoope

What Cooperativas Micoope does

Cooperativas MICOOPE is a Guatemalan member-owned cooperative financial system founded in 1963 that operates as the largest non-profit financial cooperative network in the country, serving more than 3 million associated members through 24 affiliated savings and credit cooperatives (Cooperativas de Ahorro y Crédito) distributed across all 22 departments of Guatemala. The system delivers core retail banking products including savings accounts, personal/business/housing/agricultural loans, credit and debit cards (the credit card is marketed as offering the lowest interest rate in the market), international remittances, currency exchange (ServiMicoope), and insurance products through its supervised subsidiary Seguros COLUMNA (life, vehicle, accident, agricultural). Its technology architecture consists of the MICOOPE en Línea online banking platform, the FRI mobile wallet (iOS and Android), the EnMIRED inter-cooperative transactional platform, and the MiMarket e-commerce marketplace, supported by 132 ATMs and a distribution network of 326+ branch agencies, 381 agents, and 267 remittance agents.

The business model is a member-owned cooperative structure where surplus is returned to members as dividends or interest on savings rather than to external shareholders. Revenue is generated across multiple streams: net interest spread on the loan portfolio (personal, business, housing, agricultural, micro/SME through CREDIPYME), insurance premiums at Seguros COLUMNA, transaction and FX fees from remittances and ServiMicoope, marketplace commissions on MiMarket, and digital transaction fees on the FRI wallet and online banking platform. Customer segments span mass-market Guatemalan individuals (the primary horizontal segment), small entrepreneurs and microenterprises, women entrepreneurs (via MiMarket Mujeres and Florece), exporting SMBs (via the 2024 AGEXPORT partnership), public-sector employees (renglón 011 housing and salary-backed credit), and children and youth (via WACHALAL and Huellas Micoope financial-education programs). Member savings are protected up to Q.100,000 per member through the Fondo de Garantía MICOOPE, which also acts as the system's private risk-based supervisor.

Distribution is hybrid: physical-first through the 24 cooperatives' branch and agent networks combined with a growing self-service digital layer, complemented by educational and community programs that function as long-term member-acquisition and brand-building channels. Strategic activity in 2024 has centered on digital platform expansion (FRI wallet, MiMarket), the AGEXPORT partnership for export-oriented productive linkages, and continued scaling of the WACHALAL cooperative-education program.

Name

Cooperativas Micoope

Legal name

Cooperativas MICOOPE

Website

https://micoope.com.gt

Company type

Private

Founded year

1963

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Cooperativas MICOOPE is Guatemala's largest member-owned cooperative financial system, serving more than 3 million associated members across 24 cooperatives in all 22 departments through savings, loans, credit/debit cards, remittances, insurance (Seguros COLUMNA), and the MiMarket e-commerce platform.

Ownership category

akta.pro rank

Product category

Cooperative Banking

NAICS

Credit Unions (522130)

SIC

Finance Services (6199)

akta.pro primary industry

Federations/Centrals & Cooperative Banking Networks (2nd-Tier Co-ops) (FSABAEAL)

akta.pro secondary industries

Cooperative Banks (Member-Owned Commercial/Retail) (FSABAEAF), Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

Keywords

• Savings accounts
• Cooperative banking
• Credit loans
• Remittance services
• Insurance products

Headquarters

HQ city

Ciudad De Guatemala

HQ country

Guatemala

HQ region

Latin America

Offices2 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. Savings Mobilization: Members deposit savings in exchange for interest earnings. As a non-profit cooperative, deposits are the primary source of loanable funds. Returns to members are distributed as dividends or interest on savings.
2. Loan Interest Income: The cooperative network provides personal, business, housing, agricultural, and consumer loans. Interest income generated from the loan portfolio constitutes the core financial revenue stream.
3. Insurance Premiums (Seguros COLUMNA): Seguros COLUMNA, a supervised insurance subsidiary (supervised by the Superintendent of Banks of Guatemala), provides life, vehicle, accident, agricultural, and other insurance products to members, generating premium income.
4. Remittance Services: MICOOPE facilitates international remittance collection and disbursement through 289 branches and 267 agents nationwide, earning fees on remittance transactions.
5. MiMarket Marketplace Commission: The MiMarket e-commerce platform charges sellers (small businesses, entrepreneurs, artisans) for listing and selling products online, earning commissions on transactions processed through the platform.
6. CREDIPYME Services: Micro and small business lending services provided through CREDIPYME, linked to the MICOOPE corporate network, generating interest and fee income.
7. Digital Transaction Fees: Fees from digital banking transactions through MICOOPE en Línea and the FRI mobile wallet, including transfers, payments, and service requests processed online.

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels6 records

Core offering

Cooperativas MICOOPE is a member-owned cooperative financial system that provides savings accounts, personal/business/agricultural/housing loans, credit and debit cards, international remittances, insurance, and currency exchange services to more than 3 million associated members across Guatemala. The system operates 24 affiliated cooperatives, an online banking platform (MICOOPE en Línea), a digital wallet (FRI), an e-commerce marketplace (MiMarket), and an insurance subsidiary (Seguros COLUMNA).

Product overview

Cooperativas MICOOPE is a cooperative financial system comprising 24 savings and credit cooperatives serving over 3 million members across Guatemala. The system operates as a platform-plus-modules architecture with FENACOAC as the central federation, supported by Seguros COLUMNA for insurance and the Fondo de Garantía MICOOPE for savings protection. Core financial products include savings accounts, loans, credit/debit cards, remittances, and the ServiMicoope currency exchange service. Digital channels comprise MICOOPE en Línea (online banking) and FRI Digital Wallet (mobile payments). The MiMarket e-commerce platform supports local business digitalization. Educational and empowerment programs include WACHALAL (youth cooperativism education), Huellas Micoope (financial literacy), Florece (women's entrepreneurship), and EmprendeMás (business development), alongside the MICOOPE El Podcast content series.

Differentiator

Problem solved

Functional benefit

Brands

• Seguros COLUMNA: Insurance brand of the MICOOPE system offering life, vehicle, accident, and agricultural insurance products
• Fondo de Garantía MICOOPE
• MiMarket
• MICOOPE en Línea
• FRI
• WACHALAL
• Huellas MICOOPE
• Florece
• Empresarialidad
• EmprendeMás

Products and services

• Mis Ahorros (Savings Accounts) Savings products offered to associated members with multiple account types including available savings (Cuenta Ahorro Disponible) and contribution/share accounts (Cuenta Aportaciones). Funds deposited earn competitive interest, with savings protected up to Q.100,000 per member by the Fondo de Garantía MICOOPE.
• Préstamos (Loans) Loan products designed for a range of member needs including personal, business, home (housing), and agricultural financing. The loan portfolio generates the core interest income of the cooperative network.
• Seguros COLUMNA Insurance Insurance products including life, vehicle, accident, agricultural, and general insurance offered to associated members through the cooperative network. The subsidiary is supervised by the Superintendent of Banks of Guatemala.
• Remesas (Remittances) International money transfer service enabling members to collect and disburse remittances through 289 branches and 267 agents nationwide. MICOOPE earns transaction fees on remittance flows.
• Tarjeta de Crédito MICOOPE (Credit Card) Credit card offered to associated members, marketed as having the lowest interest rate in the Guatemalan market.
• Tarjeta de Débito MICOOPE-VISA Debit card linked to the member's available savings account, provided at no cost to associated members. Co-branded with VISA.
• ServiMicoope (Currency Exchange) Foreign currency exchange service for associated members of the cooperative network.
• MICOOPE en Línea (Online Banking) Web-based online banking platform enabling associated members to perform financial transactions, check balances, request services, and manage accounts online.
• FRI Billetera Digital (FRI Digital Wallet) Mobile wallet application available on iOS (App Store) and Android (Google Play) that enables users to send, request, and receive money at no cost, integrated with the MICOOPE cooperative network.
• MiMarket E-commerce Marketplace E-commerce marketplace platform connecting Guatemalan small businesses, entrepreneurs, and artisans with consumers. Supports local commerce and digital entrepreneurship across categories including beauty, food, technology, and crafts. Includes MiMarket Mujeres (women) and MiMarket Agro (agriculture) sections. MICOOPE earns commissions on seller transactions.
• CREDIPYME (SME Credit) Micro and small business credit services provided within the MICOOPE corporate network. Generates interest and fee income and is one of the financial service providers whose products are promoted to AGEXPORT member entrepreneurs.

Quantifiable outcome

• More than 3 million Associated members across 24 cooperatives in Guatemala
• +4 more outcomes

Named customers5 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature4 records

Partnerships

Six partnerships are on record, tiered core and minor.

• AGEXPORT (Asociación Guatemalteca de Exportadores)coreStrategic or Co-development Partner · 18 July 2024AGEXPORT and FENACOAC-MICOOPE signed a Carta de Entendimiento (Letter of Understanding) to coordinate joint efforts to promote productive linkages and strengthen Guatemalan exports. The partnership identifies market opportunities, creates spaces for MICOOPE member entrepreneurs in AGEXPORT programs like the Ruta de la Internacionalización, and facilitates access to financial products and services for exporters through the MICOOPE network. The agreement also provides preferential pricing on AGEXPORT Expert Consulting Services (SEC) for MICOOPE-associated entrepreneurs.
• FENACOAC (Federación Nacional de Cooperativas de Ahorro y Crédito de Guatemala)coreOthersFENACOAC is the federation that groups the 24 Cooperativas MICOOPE under a common umbrella. It acts as the integration, representation, defense, and strengthening organism for member cooperatives. FENACOAC-MICOOPE also operates as the central liquidity box (caja central de liquidez) of the MICOOPE System.
• WOCCU (World Council of Credit Unions)minorStrategic or Co-development PartnerThe World Council of Credit Unions is the trade association and development agency for the international credit union system. WOCCU promotes sustainable growth of credit unions worldwide, advocates for the global credit union system before international organizations, and works with national governments to improve legislation and regulation. Its technical assistance programs introduce new tools and technologies to strengthen the financial performance of credit unions.
• Seguros COLUMNAcoreTechnology or IntegrationSeguros COLUMNA is the insurance company of the MICOOPE System, providing life, vehicle, accident, agricultural, and other insurance products for the peace of mind of all Associated members. COLUMNA is a stock company (sociedad anónima) supervised by the Superintendent of Banks of Guatemala. It is fully integrated into the MICOOPE cooperative network.
• Fondo de Garantía MICOOPEcoreOthersFondo de Garantía MICOOPE is a specialized entity that conducts risk-based financial supervision of MICOOPE Cooperatives. It guarantees the return of savings of each Associated member up to Q.100,000.00 in case of insolvency of any Cooperative in the System. It operates as the private supervisor of affiliated cooperatives.
• GuatexminorChannel Partner/ Reseller/ DistributorGuatex is a logistics and courier partner used by MiMarket for package delivery across Guatemala. MiMarket offers a Guatex code system for sellers to manage shipments through the Guatex network.

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Banco Azteca: Mass-market retail bank operating across Latin America including Guatemala, focused on unbanked and underbanked consumers with small-ticket credit, savings, and remittances. Comparable to MICOOPE in targeting mass-market Guatemalan consumers with accessible financial services.
• Fundación Génesis Empresarial: Guatemalan microfinance institution focused on financial inclusion for micro-entrepreneurs and underserved populations. Directly comparable to MICOOPE's CREDIPYME and microenterprise lending vertical in targeting unbanked Guatemalans with credit and savings products.
• Desjardins Group: Largest Canadian cooperative financial group with credit unions, insurance, and digital banking serving millions of members. Comparable to MICOOPE as a benchmark cooperative financial system at similar scale, demonstrating the long-term viability and cross-sell potential of the cooperative model MICOOPE operates.
• Banrural: Guatemalan commercial bank with strong rural and agricultural focus and nationwide branch network. Most directly comparable to MICOOPE in serving mass-market and underserved Guatemalan populations with savings, loans, and remittance services across all 22 departments.
• Compartamos Banco: Mexican microfinance institution serving low-income populations with credit, savings, and insurance. Comparable to MICOOPE in business model, target segment, and emphasis on financial inclusion, with similar cooperative-adjacent origins.
• Cajamar Caja Rural: Spanish cooperative banking group operating as a member-owned rural credit union with nationwide branches, insurance, and digital banking. Highly comparable to MICOOPE in cooperative ownership structure, member-centric mission, and integrated financial services portfolio.

Broad incumbents

• Banco Industrial: Guatemala's largest commercial bank offering full-service corporate and consumer banking. Comparable as a broad incumbent competitor in the Guatemalan financial services market that MICOOPE competes with for deposits, loans, and remittances.
• Banco Agromercantil (BAM): Major Guatemalan commercial bank with agricultural and SME focus. Competes with MICOOPE across savings, lending, and agricultural finance in Guatemala, with a similar geographic footprint and customer base.

Regional players

• CUSCATLAN: Major El Salvadorian bank offering consumer and commercial banking. Comparable as a Central American financial institution with similar mass-market focus, though operating in a different geography than MICOOPE's Guatemala-exclusive footprint.

Others

• World Council of Credit Unions (WOCCU): International trade association and development agency for the global credit union system. MICOOPE is a member/partner; relevant as ecosystem context for understanding the global cooperative financial system within which MICOOPE operates and benchmarks itself.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeopen.spotify.com/show/3fsIDDU8VFfTtM4tcj25gL
• Facebookfacebook.com/MICOOPE.Cooperativas
• LinkedInlinkedin.com/company/cooperativas-micoope
• Instagraminstagram.com/cooperativasmicoope

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries5 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 Cooperativas Micoope