Asociación Solidarista de Empleados del Ministerio de Agricultura y Ganadería

What Asociación Solidarista de Empleados del Ministerio de Agricultura y Ganadería does

Asociación Solidarista de Empleados del Ministerio de Agricultura y Ganadería (ASEMAG) is a Costa Rican member-owned employee solidarity association established in 1982 and operating under Law 6970 with regulatory supervision by SUGEF (Superintendencia General de Entidades Financieras). The association serves approximately 1,530 employees of the Ministerio de Agricultura y Ganadería de Costa Rica, operating from an on-site office within the Ministry's Edificio Servicio Fitosanitario del Estado in San José's Mata Redonda/Sabana Sur district, with a staff of 75. Its primary function is to provide members with a closed financial-services platform — ordinary, Christmas, school, vacation, and sight savings; six distinct credit lines (savings-backed, immediate, refinancing, health/housing/study, mortgage, and no-guarantor); collective life insurance (₡10,000,000 coverage) and debtor-balance insurance; a mutual aid fund; and a scholarship program — alongside a network of 20+ discount partners across education, healthcare, optical/dental, and travel/hospitality categories.

Underlying technology is intentionally lightweight: a WordPress-based public website (asemag.co.cr) carrying informational content, downloadable PDF forms for affiliation, savings, credit, mutual aid, scholarship, and insurance enrollment, plus a third-party online account portal hosted on the quarzo.com platform (gestion.quarzo.com/Asemag.GL) for member self-service account access. ASEMAG does not operate a proprietary core banking system, a mobile app, or any disclosed AI/ML capability; all member data, transactions, and reporting are processed through the quarzo.com backend with annual external audits by Jenkins y Asociados.

ASEMAG's business model is a non-profit, member-recirculating financial cooperative. Members contribute 5% of gross salary as mandatory ordinary savings (their social capital, withdrawable only upon resignation), supplemented by an employer (patronal) contribution from the Ministry, plus voluntary contributions to four purpose-built savings programs (Christmas, school, vacation, sight). Operating revenue is generated primarily from net interest spread on the credit book, insurance premium float on collective life and debtor-balance policies, and modest fees on mutual aid and scholarships. Distribution is direct-to-member through the on-premise Ministry office (phone 2101-7575, WhatsApp 8606-2577), the quarzo.com portal, email ([email protected]), and a Facebook page (facebook.com/asemag.co.cr). Accumulated association capital stands at ₡16,260 million (~USD 28-30M).

Name

Asociación Solidarista de Empleados del Ministerio de Agricultura y Ganadería

Legal name

Asociación Solidarista de Empleados del Ministerio de Agricultura y Ganadería

Website

https://asemag.co.cr

Company type

Private

Founded year

1982

Operating status

Operating

Headcount range

51–100 employees

Short description

ASEMAG is a Costa Rican employee solidarity association founded in 1982 under Law 6970, serving 1,530 employees of the Ministry of Agriculture and Livestock with savings, credit, insurance, and mutual aid services, regulated by SUGEF and audited externally.

Ownership category

akta.pro rank

Headquarters

HQ city

San José

HQ country

Costa Rica

HQ region

Latin America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Member Savings Contributions: Members contribute 5% of their gross salary as ordinary savings, which accumulates in personal accounts and constitutes the association's social capital. Savings can be withdrawn upon resignation from the association.
2. Employer Contribution: Patronal contribution from the Ministry of Agriculture and Livestock, providing additional capital to the association.
3. Credit Operations: Interest income from various credit products including savings-backed loans, immediate credit, refinancing, health/vivienda/study loans, mortgage loans, and credit without guarantors. Loans offered at preferential interest rates.
4. Special Savings Programs: Voluntary savings programs including Christmas savings, school savings, vacation savings, and sight savings that generate interest income for the association.
5. Insurance Premiums: Collective life insurance coverage of ¢10,000,000 per member with monthly premium contributions. Also includes debtor balance insurance covering credit operations.
6. Mutual Aid Fund: Non-reimbursable assistance for births, family deaths, natural disasters, and retirement bonuses for members with over 5 years of membership.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

ASEMAG is a Costa Rican nonprofit solidarity association that provides savings plans, consumer credit, collective insurance, mutual aid, and scholarships exclusively to employees of the Ministry of Agriculture and Livestock. Founded in 1982 and governed by Law 6970 under SUGEF supervision, the association pools a mandatory 5% employee salary contribution with an employer matching contribution to deliver financial services to its 1,530 associated members.

Product overview

ASEMAG is a savings and loan cooperative (Asociación Solidarista) offering a comprehensive suite of financial products and services to its 1,530 members. The portfolio comprises savings products (ordinary, Christmas, school, vacation, and demand savings), credit products (savings-based, immediate, refinancing, health/housing/education, mortgage, and co-signer-free credit), and insurance/services (collective life insurance, debtor balance insurance, mutual aid fund, and scholarship programs). All products are interconnected through the member's savings account, which serves as the foundation for credit eligibility and social capital participation.

Differentiator

Problem solved

Functional benefit

Products and services

• Ordinary Savings (Ahorro Ordinario) Core recurring savings account funded through mandatory employee and employer contributions, available to associated members of ASEMAG.
• Christmas Savings (Ahorro Navideño) Seasonal savings plan that lets members set aside funds specifically for end-of-year holiday expenses.
• School Savings (Ahorro Escolar) Savings plan earmarked for covering annual back-to-school expenses for members and their dependents.
• Vacation Savings (Ahorro Vacacional) Savings plan dedicated to funding members' annual vacation and recreational expenses.
• On-Demand Savings (Ahorro a la Vista) Liquid, on-demand savings balance available for immediate member withdrawal.
• Credit on Savings (Crédito Sobre Ahorro) Credit line secured against the member's accumulated savings balance, used for short-term liquidity.
• Immediate Loan (Crédito Inmediato) Rapid-disbursement personal loan product for urgent member liquidity needs.
• Refinancing Loan (Crédito Refinanciamiento) Refinancing product that lets members consolidate or restructure existing credit obligations.
• Health, Home and Study Loans (Crédito Salud/Vivienda/Estudio) Purpose-specific consumer loans for medical expenses, housing improvements, and education costs.
• Home Mortgage Loan (Crédito Vivienda Hipotecario) Long-term mortgage loan for residential property acquisition or construction by members.
• Loan Without Guarantor (Crédito sin Fiador) Personal loan product granted without requiring a co-signer or guarantor, improving member access to credit.
• Collective Life Insurance Policy (Póliza Colectiva de Vida) Group life insurance policy covering all eligible associated members under a single collective contract.
• Debtor Balance Insurance Policy (Póliza Saldos Deudores) Insurance coverage that cancels the outstanding credit balance of a member in case of death or total disability.
• Mutual Aid Fund (Fondo de Auxilio Mutuo) Member-funded mutual aid fund that provides financial support to members during emergencies, illness, or hardship events.
• Scholarship Program (Programa de Becas) Scholarship program providing educational financial support to members and their dependents.

Quantifiable outcome

• ¢16,260 million in association capital supporting 1,530 members

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

22 partnerships are on record, tiered minor.

• U.I.A. (Universidad Iberoamericana de Ciencia y Tecnología)minorOthersEducational institution partner offering 20% discount on bachelor's and licensing degrees, 15% on active postgraduate programs for members and family up to third degree of consanguinity.
• INTENSA Instituto de IdiomasminorOthersLanguage institute offering 12% discount for members and 10% for direct family members on monthly tuition payments.
• Universidad La SalleminorOthersUniversity offering 20% discount on bachelor's and licensing courses, 10% on seminars and workshops for members and family.
• Universidad de Costa Rica (UTC)minorOthersTechnical institute offering 15% for members and 10% for family on open education, courses, technical programs, bachelor's, licensing and master's degrees.
• Universidad FUNDEPOSminorOthersUniversity offering up to 45% discount on master's courses, 30% on bachelor's and licensing, 50% on technical programs for members and first-degree family.
• Universidad Castro CarazominorOthersUniversity offering 20% discount on regular tuition for members and family.
• Universidad Santa LucíaminorOthersUniversity offering 20% discount on cash payments and complete course blocks for members and family.
• Centro Internacional de Idiomas (CIDI)minorOthersLanguage center offering 50-75% discounts on various language levels for members and direct family.
• Universidad HispanoamericanaminorOthersUniversity offering 25% discount on one course, 30% on two or more courses for members and family up to third degree.
• Laboratorio San JoséminorOthersLaboratory offering 20% discount on lab tests for members and family at branches.
• Clínica Santa FeminorOthersMedical clinic offering 15% on ultrasounds, X-rays, mammograms, nutrition, general medicine, physical therapy; 5% on MRI and gastroscopy; 10% on lab and CT scans.
• Clínica 20/20 Centro de OftalmologíaminorOthersEye clinic offering exams and financing options for members and family.
• Óptica VisiónminorOthersOptical store offering 20% discount on lenses with free exams for members and family.
• Ópticas VitraminorOthersOptical store offering free eye exams, 30% discount on prescription glasses and sunglasses for members and family.
• ALTAIR Clínica de Especialidades OdontológicasminorOthersDental clinic offering 2x1 on fillings, discounts on orthodontics and teeth whitening for members and family.
• ALTAMEDICAminorOthersMedical center offering 5-40% discounts on nutrition, dentistry, orthodontics, general medicine, psychology, aesthetics, ophthalmology, lab and physical therapy.
• Hotel Arenas - Punta LeonaminorOthersHotel offering 10-15% discount on accommodation, 6% on day passes and event halls for members and family.
• Hoteles BarcelóminorOthersHotel chain offering 10% discount on regular and promotional rates at Barceló Tambor Beach, Langosta Beach, and Occidental Grand Papagayo.
• Best Western JacóminorOthersHotel offering 20% discount on regular rates for members and family.
• Hotel Fiesta ResortminorOthersResort offering 12% weekday and 10% weekend discounts for members and family.
• Economy Rent a CarminorOthersCar rental with special deposit rate ($150 credit card) for members with active ASEMAG letter.
• FAYTURminorOthersTourism agency offering 5% on international and 3% on national travel packages (excluding certain hotels).

Scale indicators3 records

Recent moves5 records

Expansion highlights3 records

Regional players

• CoopeSanRamón: Regional Costa Rican credit cooperative providing savings, lending, and member services. Comparable cooperative model and product set, though serving a geographic (rather than employer-defined) membership base.
• CoopeTarrazú: Costa Rican regional credit cooperative offering savings, credit, and insurance products to members. Useful comparability on cooperative governance and product mix, though focused on a coffee-growing region rather than a government employer.

Direct peers

• CoopeAnde: Costa Rican cooperative financial institution serving public-sector educators. Most direct functional analog to ASEMAG: collects member savings, extends credit at preferential rates, and offers insurance and mutual aid to a defined employee group.
• CoopeServidores: Costa Rican credit cooperative serving public-sector employees across multiple ministries. Comparable savings, credit, and insurance product suite aimed at the same persona (government employees) as ASEMAG.
• Asociación Solidarista de Empleados del Ministerio de Educación (ASOEDU): Solidarity association for Costa Rica's Ministry of Education employees, governed under the same Law 6970 framework. Operates the identical savings/credit/insurance/mutual-aid model for a different ministry workforce.
• Mutualidad de Empleados del Magisterio Nacional: Costa Rican mutual benefit society for education-sector public employees, offering savings, credit, insurance, and mutual-aid benefits under a similar cooperative/solidarity framework. Comparable operating model and target member type to ASEMAG.

Broad incumbents

• Banco Popular y de Desarrollo Comunal: Costa Rica's largest cooperative bank, offering the full suite of savings, credit, and insurance products to individuals and workers nationwide. Sets the competitive baseline ASEMAG must beat on rate and service within its Ministry niche.
• Instituto Nacional de Seguros (INS): Costa Rican state-owned insurance company offering life, credit-life, and group insurance products including the collective policies ASEMAG underwrites for its members. Represents the broader competitive and benchmark pricing environment for ASEMAG's insurance offerings.

Market position

Strengths4 records

Weaknesses3 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/asemag.co.cr
• LinkedInlinkedin.com/company/asociaci%C3%B3n-solidarista-de-empleados-del-ministerio-de-agricultura-y-ganader%C3%ADa

Revenue estimate

Valuation estimate

Number of profiles

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 Asociación Solidarista de Empleados del Ministerio de Agricultura y Ganadería