Cooperativa de Ahorro y Crédito 9 de Octubre

What Cooperativa de Ahorro y Crédito 9 de Octubre does

Cooperativa de Ahorro y Crédito 9 de Octubre Ltda. is a member-owned cooperative financial institution founded in Salcedo, Cotopaxi province, Ecuador in 1976 and currently classified as a Segment 1 cooperative under SEPS supervision with the top-tier 'A' risk rating. It operates 11 physical branches (1 matriz in Salcedo plus 10 agencies) and an 11-ATM network across six Ecuadorian provinces (Cotopaxi, Tungurahua, Chimborazo, Pichincha, Santo Domingo de los Tsáchilas, Pastaza), with COSEDE-insured deposits and Visa debit card issuance.

The institution offers a unified retail product suite spanning savings (Cuenta Socio, Cuenta Cliente, Mi Peque 9 children's account, Ahorro Programado at 5%, and institutional Ahorro Premium at 4%-5.50% on balances above $50,000), credit (Microcrédito 9 up to $300,000 over 12-84 months with sub-products including Mujer Emprendedora; consumer credit up to $80,000 over 12-72 months at 12.99% promotional; housing credit up to $100,000 over 15 years at 9.80%), fixed-term deposits, a Visa debit card, and an annual medical insurance product ($60/year, administered by Confiamed). Digital channels include the Coonecta-powered 9 de Octubre en Línea web banking platform and the 9 de Octubre Móvil mobile app (iOS/Android), supporting transfers up to $5,000 daily and $10,000 monthly interbank. The Coonecta partnership also delivers the 'YO DECIDO: mi futuro y mis finanzas' financial education program built on WOCCU methodology.

Revenue is generated primarily through the net interest spread between lending rates (microcredit, consumer, housing) and deposit interest paid on savings and fixed-term deposits, supplemented by one-time account opening fees ($32 for member socio accounts, $12 for basic cliente accounts), Visa debit card issuance, and recurring medical insurance premiums. GTM is direct-to-consumer via the branch network and self-serve digital channels; primary customer segments are microentrepreneurs and PYMEs (microcredit), individual consumers (consumption credit), housing finance seekers, and savings members including a tier of institutional/association savers. No proprietary technology stack is disclosed — operations rely on the cooperative banking ecosystem, Confiamed for medical services, Coonecta for digital channels, and Visa for card rails.

Name

Cooperativa de Ahorro y Crédito 9 de Octubre

Legal name

Cooperativa de Ahorro y Crédito 9 de Octubre Ltda.

Website

https://9octubre.fin.ec

Company type

Private

Founded year

1976

Operating status

Operating

Headcount range

11–50 employees

Short description

Cooperativa de Ahorro y Crédito 9 de Octubre is a Segment 1 Ecuadorian cooperative financial institution offering savings, microcredit, consumer, and housing credit, plus Visa debit and medical insurance, to retail members and microentrepreneurs across six central provinces through 11 branches and Coonecta-powered digital channels.

Ownership category

akta.pro rank

Product category

Cooperative Banking

NAICS

Credit Unions (52213), Consumer Lending (522291)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Community Development Credit Unions (CDCUs) (FSABAEAC)

Keywords

• Cooperative banking
• Microcredit lending
• Savings accounts
• Housing credit
• Consumer finance

Headquarters

HQ city

Salcedo

HQ country

Ecuador

HQ region

Latin America

Offices12 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Microcredit and Consumer Lending: Interest income from microcredit (up to $300,000, 12-84 month terms), consumer credit (up to $80,000, 12-72 months), and housing credit (up to $100,000, up to 15 years at 9.80% rate). Microcredit is the flagship product, including group loans, PYME loans, and Mujer Emprendedora programs.
2. Demand Deposits and Savings Accounts: Account holder deposits (savings accounts) that fund the cooperative's lending activities. No maintenance cost for savings accounts; revenue derived from the spread between lending rates and deposit interest paid.
3. Fixed-Term Deposits (DPF): Time deposits (Depósitos a Plazo Fijo) for investors seeking guaranteed returns. The cooperative uses these funds for lending. Revenue from spread and any applicable fees.
4. Medical/Insurance Services: Annual medical insurance sold to members ($60/year for titular, $5/month), including general medicine, gynecology, pediatrics, dentistry, traumatology, and medications. Administered through Confiamed call center and network.
5. Savings Account Fees: Account opening fees ($32 for socio accounts including Visa debit, $12 for client accounts). Some service costs are published in the Costos por Servicios document.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Cooperativa de Ahorro y Crédito 9 de Octubre is a Segment 1 Ecuadorian cooperative that provides savings accounts (Cuenta Socio, Cuenta Cliente, Cuenta Infantil Mi Peque 9, Ahorro Programado, Ahorro Premium) and credit products including Microcrédito 9 (up to $300,000, 12-84 months), Crédito de Consumo (up to $80,000, 12-72 months) and Crédito de Vivienda (up to $100,000, up to 15 years at 9.80%). It also offers fixed-term deposits (DPF), a Visa debit card, 24/7 ATM network, web and mobile banking, an annual medical insurance product, and the WOCCU-based YO DECIDO financial education program, serving members through 1 matriz and 10 agencies across 6 provinces.

Product overview

Cooperativa de Ahorro y Crédito 9 de Octubre is a Segment 1 cooperative (Risk Rating A) offering a unified suite of financial products and services centered on savings accounts (Cuenta Socio, Cuenta Cliente, Cuenta Infantil Mi Peque 9, Ahorro Programado, Ahorro Premium) and credit products (Microcrédito 9, Crédito de Consumo, Crédito de Vivienda, Depósito a Plazo Fijo). These are supported by a Visa debit card network, 11 ATMs, and a digital banking platform comprising 9 de Octubre en Línea (web banking) and 9 de Octubre Móvil (mobile app), alongside a medical insurance product, financial simulators, and the Coonecta-powered financial education program 'YO DECIDO'. The cooperative serves members across multiple provinces in Ecuador through 11 branch locations.

Differentiator

Problem solved

Functional benefit

Brands

• Mujer Emprendedora: A specialized microcredit program for women entrepreneurs, designed to support women in starting or expanding their own businesses.
• Ecoimpulso
• Impulso
• Mi Peque 9

Products and services

• Cuenta Socio (Member Savings Account) Savings account for members with access to credit, medical insurance, and virtual banking services; includes an international Visa debit card. $32 opening fee includes Visa debit card, with zero maintenance cost and $2.34/month for medical/odontological/life insurance.
• Cuenta Cliente (Client Savings Account) Basic savings account for non-member clients wanting to save, deposit, and withdraw without full member benefits. $12 opening fee includes Visa debit card. No member governance rights.
• Cuenta Infantil Mi Peque 9 (Children's Savings Account) Children's savings account for minors with medical insurance coverage and financial education benefits; $5 initial deposit. Children over 1 year receive 100% coverage for pediatrics, general medicine, traumatology, and dentistry, with hospitalization up to $2,000.
• Ahorro Programado (Programmed Savings) Programmed savings product with monthly deposits from $10 onward, earning 5% annual interest on balances. Renewable. COSEDE insured. Ideal for reserve funds.
• Ahorro Premium (Premium Savings) Premium savings product directed at financial institutions, networks, and associations of the cooperative system; requires $50,000 minimum deposit and balance, earning 4% to 5.50% annual interest. RUC required.
• Microcrédito 9 Microcredit product for individuals starting or expanding businesses, with sub-products including Emergente, Grupal, Pymes, and Mujer Emprendedora; amounts from $200 to $300,000 over 12 to 84 months.
• Crédito de Consumo (Consumer Credit) Consumer credit for personal expenses including vehicles, home improvements, education, and travel; available with or without guarantor or mortgage; amounts from $200 to $80,000 over 12 to 72 months at a promotional rate of 12.99% TEA.
• Crédito de Vivienda (Housing Credit) Housing credit for purchasing new or used homes, with mortgage guarantee; financing up to 70% of property appraisal, up to $100,000 over 15 years at 9.80% interest.
• Depósito a Plazo Fijo (Fixed-Term Deposit) Fixed-term deposit investment product with competitive interest rates, COSEDE deposit insurance, and access to a self-liquidating credit line.
• Tarjeta Visa Débito (Visa Debit Card) International Visa debit card enabling purchases nationwide and internationally, ATM access, and online transactions; daily withdrawal limit of $1,000 and daily purchase limit of $500.
• Cajeros Automáticos (ATM Network) Network of 11 automated teller machines operating 24/7 across provinces of Cotopaxi, Tungurahua, Chimborazo, Pichincha, Pastaza, and Santo Domingo de los Tsáchilas. Supports cash withdrawals and deposits.
• Seguro Médico (Medical Insurance) Annual medical and dental insurance for members covering general medicine, gynecology, pediatrics, odontology, traumatology consultations (6 per year), and medications per list; priced at $60 per year for the account holder ($5/month). Hospitalization up to $2,000 per incapacitation. Administered through Confiamed call center and provider network.
• 9 de Octubre en Línea (Web Banking) Online banking system allowing account access, service payments, internal and interbank transfers up to $5,000 daily and $10,000 monthly, balance inquiries, and loan payments.
• 9 de Octubre Móvil (Mobile App) Mobile banking application for iOS and Android enabling account management, beneficiary registration, and transactions from any location.
• YO DECIDO: mi futuro y mis finanzas (Financial Education Program) Financial education program based on WOCCU methodology covering savings, responsible debt, family budgeting, insurance, cooperatives, and gender equality, culminating in a certificate. Virtual delivery through Coonecta platform.
• Pago de Servicios 9 (Bill Payment Service) Bill payment service enabling members to pay utilities and other services through the cooperative's platforms.

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• COSEDE (Corporación del Seguro de Depósitos)coreOthersCOSEDE provides mandatory deposit insurance for all cooperative deposits. The cooperative prominently displays COSEDE coverage and links to the coverage calculator on its website and investment product pages. All savings, time deposits, and basic accounts are protected by COSEDE.
• SEPS (Superintendencia de Economía Popular y Solidaria)coreOthersSEPS is Ecuador's regulatory authority for Popular and Solidarity Economy, overseeing cooperative financial institutions. COAC 9 de Octubre operates under SEPS supervision and classifies as Segment 1. SEPS logo is displayed on the website.
• ICOREDminorStrategic or Co-development PartnerInstituto Costarricense de Crédito Cooperativo (ICORED) is the Costa Rican cooperative financial federation. COAC 9 de Octubre is a member. The ICORED logo appears on the website footer alongside other institutional partners. Participation in ICORED may provide networking and best practice exchange.
• FINANCOOPminorStrategic or Co-development PartnerFINANCOOP is a Ecuadorian cooperative financial services provider/network. COAC 9 de Octubre is a member as shown by the logo on the website. Membership indicates participation in the cooperative financial ecosystem.
• Coonecta / Coonecta Red TransaccionalcoreTechnology or IntegrationCoonecta is the digital platform/Red Transaccional provider used for the 9 de Octubre Móvil app, web banking, and the financial education program 'YO DECIDO: mi futuro y mis finanzas'. Coonecta also provides the Yo Decido platform for financial education delivery and issues certificates upon program completion.
• Banco Central del EcuadorcoreOthersBCE is Ecuador's central bank. The cooperative displays the BCE logo on its website footer, indicating compliance with central bank regulations and interbank clearing systems.
• Confiamed (Confianza Médica) / SuárezminorStrategic or Co-development PartnerConfiamed provides the medical provider network and call center (1800 408 408, 24/7 nationally) for the cooperative's medical insurance product. Call center handles appointment scheduling and service requests. Medical services include general medicine, gynecology, pediatrics, dentistry, and traumatology through Confiamed's provider network. Logo shows 'Con el respaldo de Suárez y Confiamed'.
• Visa InternationalcoreTechnology or IntegrationVisa International provides the debit card infrastructure used by the cooperative. The Visa debit card is included with all account types and enables international purchases, ATM withdrawals worldwide, and online transactions. The card has daily withdrawal limits of $1,000 and daily purchase limits of $500.
• UAFE (Unidad de Análisis Financiero y Económico)coreOthersUAFE is Ecuador's Financial Intelligence Unit. The cooperative displays the UAFE logo on its website, indicating compliance with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations required for cooperative financial institutions.
• RFD (Radio FM?)minorOthersRFD logo appears on the website footer. Nature of partnership is not explicitly described. RFD appears to be a media or partner entity visible in the institutional logos section.

Scale indicators5 records

Recent moves10 records

Expansion highlights5 records

Direct peers

• Banco de Loja: A community-oriented Ecuadorian bank with a regional branch network offering savings, credit, housing finance, and rural lending. Comparable to 9 de Octubre as a community-focused deposit-taking and lending institution with a similar regional footprint philosophy.
• Banco Solidario: An Ecuadorian microcredit bank focused on financial inclusion for microentrepreneurs and underserved populations. Comparable to 9 de Octubre's microcredit-friendly approach and concentration on PYMEs and small producers, with similarly mission-driven positioning.
• Cooperativa de Ahorro y Crédito 23 de Julio: One of the largest Ecuadorian COACs, offering the same combination of savings accounts, consumer credit, microcredit, and housing loans under SEPS supervision. Comparable to 9 de Octubre as a structurally similar cooperative financial institution serving a broad member base across multiple provinces.
• Mutualista Pichincha: An Ecuadorian mutual savings institution offering savings, credit, and housing finance products. Comparable to 9 de Octubre's housing credit and savings offerings, with a similar mutual/membership-based structure serving retail customers.
• Cooperativa de Ahorro y Crédito Policía Nacional: An Ecuadorian COAC with a national multi-branch presence, offering savings, credit, and microcredit products under SEPS oversight. It is a direct peer due to its cooperative governance structure, similar regulatory standing, and broadly overlapping product portfolio with 9 de Octubre.
• Cooperativa de Ahorro y Crédito Jardín Azuayo: A well-known Ecuadorian COAC operating under SEPS supervision with a multi-province branch network, comprehensive savings and credit product suite, and a similarly regulated cooperative structure. It is the most direct functional peer to 9 de Octubre, with comparable microcredit, consumer, and savings offerings and a similar member-focused model.

Broad incumbents

• Banco Pichincha: Ecuador's largest private commercial bank with a nationwide branch and ATM network offering the full suite of personal and SME banking products. Comparable as a competing deposit-taking and lending institution serving the same Ecuadorian consumer and small business market, though operating at much larger scale with broader product coverage.
• Produbanco: An Ecuadorian commercial bank with strong focus on corporate and SME banking, plus personal banking and credit cards. Comparable to 9 de Octubre as a deposit-taking and lending institution competing in the Ecuadorian consumer and SME market, with broader product breadth and scale.
• Banco del Pacífico: A state-owned Ecuadorian commercial bank with national coverage of deposit, credit, and payment services. Comparable to 9 de Octubre as a full-service deposit-taking and lending institution operating in the same Ecuadorian regulatory environment.
• Banco Guayaquil: A major Ecuadorian commercial bank with nationwide presence and comprehensive consumer and SME banking services. Comparable to 9 de Octubre as a deposit-taking and lending institution competing in the same Ecuadorian market, but operating at materially larger scale with broader geographic reach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/812449038767250
• LinkedInlinkedin.com/company/cooperativa-de-ahorro-y-cr%C3%A9dito-9-de-octubre

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 Cooperativa de Ahorro y Crédito 9 de Octubre