COOPERATIVA DE AHORRO Y CREDITO "SAN JORGE" LTDA

What COOPERATIVA DE AHORRO Y CREDITO "SAN JORGE" LTDA does

COOPERATIVA DE AHORRO Y CREDITO "SAN JORGE" LTDA (COAC San Jorge) is an Ecuadorian cooperative financial institution founded on October 24, 1989, in Riobamba, Chimborazo province, originally constituted by 15 military personnel from the Brigade of Armored Cavalry No. 11 "Galapagos" under Ministerial Agreement No. 02051. In February 2013, the institution updated its statutes under the Ley Orgánica de la Economía Popular y Solidaria and transitioned from a closed military cooperative into an open cooperative serving both military families and the broader civilian population. It operates three physical locations: the Matriz headquarters in Riobamba, a service extension window (ventanilla) inside the Brigade 11 Galapagos commercial area, and an agency in Cuenca, Azuay province.

The institution runs a full-stack retail financial services model spanning deposits, credit, investments, and insurance. Its deposit franchise includes demand savings accounts (Cuenta de Ahorro a la Vista, minimum $36), children's savings ("Jorgito Junior," minimum $20), programmed savings with tiered interest rates up to 6.00% for terms beyond 12 months, fixed-term deposits starting at $200, cooperative-to-cooperative savings, and an environmental savings product linked to recycling. The credit portfolio comprises consumer loans ($200-$35,000) and microcredits ($200-$20,000) extended under quirografario (unsecured) and hipotecario (secured with property) structures. Insurance products include member life insurance and desgravamen (credit life) coverage with structured benefits by age band and relationship. Digital banking is delivered through "San Jorge Online," a fit-bank-powered online platform providing account access, internal transfers, and digital services.

The revenue model is a classic cooperative spread: collecting member deposits at competitive rates, lending to members at higher rates, earning transactional fee income from government payment systems (SUPA child support, BDH subsidies), the Red Facilito network, and Ria/Western Union remittances, plus ancillary income from insurance premiums and educational services. Pricing is publicly disclosed with granular tiers by deposit term, credit amount, and insurance coverage band. Distribution combines the three physical branches, the digital banking portal, partnerships with Red Facilito, Ria, and Western Union, and member education through a Figlac-powered virtual classroom ("Aula Virtual San Jorge"). The cooperative is regulated by SEPS and deposits are insured by COSEDE.

Name

COOPERATIVA DE AHORRO Y CREDITO "SAN JORGE" LTDA

Legal name

Cooperativa de Ahorro y Crédito San Jorge Ltda.

Website

https://coacsanjorge.fin.ec

Company type

Private

Founded year

1989

Operating status

Operating

Headcount range

11–50 employees

Short description

COAC San Jorge is an Ecuadorian cooperative financial institution founded in 1989, originally for military personnel of Brigade 11 Galapagos and now serving the general civilian population in Chimborazo and Azuay provinces. It offers savings accounts, consumer and microcredit, fixed-term deposits, and insurance through three branches and a digital banking platform.

Ownership category

akta.pro rank

Product category

Cooperative Banking

NAICS

Credit Unions (52213)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Community Development Credit Unions (CDCUs) (FSABAEAC)

Keywords

• Cooperative savings and credit
• Consumer microcredit lending
• Fixed term deposits
• Member financial services
• Deposit insurance services

Headquarters

HQ city

Riobamba

HQ country

Ecuador

HQ region

Latin America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Savings Deposits: The cooperative accepts savings deposits from members (socios) including vista savings, programmed savings, ecological savings, and cooperative savings from other institutions. Deposits earn interest at competitive rates.
2. Consumer and Microcredit Interest: The cooperative extends consumer credits (200 to $35,000) and microcredits (200 to $20,000) to members, earning interest income on the loan portfolio. Credit types include quirografario (unsecured) and hipotecario (secured with property).
3. Fixed Term Deposits / Investments: Fixed term deposits (depositos a plazo fijo) starting at $200 minimum investment, generating interest income for the cooperative. The cooperative offers competitive market rates based on amount and term.
4. Transactional and Service Fees: Services including SUPA (Sistema Unico de Pensiones Alimenticias) deposits/withdrawals, money transfers via Ria and Western Union, and Red Facilito transaction services generate fee income.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

COAC San Jorge is a cooperative financial institution offering demand savings accounts (Cuenta de Ahorro a la Vista and Jorgito Junior for minors), programmed savings products (Ahorro Programado, Ahorro Ecológico, Ahorro Cooperativo), consumer credit and microcredit loans, fixed-term deposit investments (Depósitos a Plazo Fijo), life and credit life insurance, government payment distribution (BDH, SUPA), and international remittance services (Ria, Western Union). Members access these services through three physical branches and the San Jorge Online digital banking platform.

Product overview

COAC San Jorge is a cooperative financial institution offering a comprehensive suite of savings, credit, and investment products. The core offering includes demand savings accounts (Cuenta de Ahorro a la Vista, Jorgito Junior for children), programmed savings products (including ecological savings), and cooperative savings. Credit products encompass consumer loans and microcredit for productive activities. Fixed-term deposits provide investment options with competitive rates. The institution also offers insurance products (life, credit life, and burial expense coverage) and a virtual education platform for financial literacy. Digital banking is accessible through San Jorge Online. The cooperative participates in government payment systems (BDH, SUPA) and international money transfer services (Ria, Western Union) to serve its members.

Differentiator

Problem solved

Functional benefit

Brands

• San Jorge Online: Online banking platform for members to access accounts and financial services

Products and services

• Cuenta de Ahorro a la Vista Immediate-access savings account for cooperative members with a minimum initial deposit of $36, bundled with life insurance coverage and institutional raffle participation.
• Cuenta de Ahorro Jorgito Junior

Segments5 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

Feature1 record

Partnerships

Twelve partnerships are on record, tiered core and minor.

• COSEDE (Corporacion de Seguro de Depositos)coreOthersCOSEDE provides mandatory deposit insurance protection for savings held at the cooperative. Deposits are insured under the COSEDE scheme, ensuring member savings are protected up to coverage limits.
• SEPS (Superintendencia de Economia Popular y Solidaria)coreOthersRegulatory oversight body for cooperative financial institutions in Ecuador. SEPS approves statutes, monitors compliance with the Organic Law of Popular and Solidary Economy.
• UAFE (Unidad de Analisis Financiero y Economico)minorOthersNational financial analysis and economic unit that monitors financial transactions for compliance and anti-money laundering purposes.
• CONAFIPS (Corporacion Nacional de Finanzas Populares y Solidarias)minorOthersNational corporation supporting popular and solidary finance institutions, providing development support and resources for cooperatives.
• IEPS (Instituto de Economia Popular y Solidaria)minorOthersInstitute supporting the development of popular and solidary economy institutions through training and technical assistance.
• UPROCACHminorStrategic or Co-development PartnerOrganization representing and supporting credit cooperatives in the Chimborazo province, providing community network and support.
• ESPOCH (Escuela Superior Politecnica de Chimborazo)minorStrategic or Co-development PartnerPolytechnic university in Riobamba providing educational collaboration and talent development opportunities.
• UNACH (Universidad Nacional de Chimborazo)minorStrategic or Co-development PartnerNational university in Chimborazo province for educational partnerships and community development.
• Red de Servicios FacilitocoreChannel Partner/ Reseller/ DistributorFacilito is a transactional products and services generator with 18+ years of experience in financial, transactional, and service institutions. COAC San Jorge works with Facilito to provide transaction services to members.
• Ria Money TransfercoreChannel Partner/ Reseller/ DistributorInternational money transfer service allowing members to send and receive remittances globally. New clients receive $0 charge for first remittance.
• Western UnioncoreChannel Partner/ Reseller/ DistributorGlobal money transfer service available at all COAC San Jorge offices, enabling international remittances to over 200 countries and territories.
• FiglaccoreStrategic or Co-development PartnerEducational platform providing virtual classroom and financial education content for COAC San Jorge members. Partners through matriculas.figlac.org/san-jorge/ and campus.figlac.org for member education.

Scale indicators4 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Banco Solidario: Ecuadorian microfinance-focused bank specializing in microcredit and small-business lending. Direct competitor for the same microentrepreneur customer segment COAC San Jorge serves with its $200-$20,000 microcredit book.
• Cooperativa de Ahorro y Crédito Cámara de Comercio de Ambato: Cooperativa affiliated with the Cámara de Comercio de Ambato offering savings, credit, and investment services to merchants and the public in Tungurahua. Operates under the same SEPS framework with comparable product set and member model.
• Cooperativa de Ahorro y Crédito 23 de Julio: Large Quito-based credit cooperative offering a full suite of savings, credit, and investment products to a broad membership. Comparable cooperative business model with similar SEPS-regulated deposit-taking and consumer lending activities.
• Cooperativa de Ahorro y Crédito Pablo Muñoz Vega: Cuenca-based credit cooperative serving public sector employees and the broader community. Closely comparable product mix (savings, consumer credit, fixed-term deposits) under SEPS regulation, with similar geographic overlap in Azuay province.
• Cooperativa de Ahorro y Crédito Jardín Azuayo: One of Ecuador's largest and most reputable credit cooperatives, headquartered in Cuenca (Azuay). Offers savings, consumer credit, microcredit, and digital banking under the same cooperative framework regulated by SEPS, making it the closest scale and model comparable to COAC San Jorge.
• Cooperativa de Ahorro y Crédito Santa Ana: Ecuadorian credit cooperative offering savings, credit, and member services under the SEPS popular and solidary economy framework. Comparable product structure and target member base to COAC San Jorge.
• Cooperativa de Ahorro y Crédito Mushuc Runa: Major Ecuadorian credit cooperative serving the Kichwa community with a similar full-stack offering of savings, credit, and member services. Operates in the same popular and solidary economy framework and competes for the same cooperative member base.
• Cooperativa de Ahorro y Crédito Atuntaqui: Credit cooperative based in Atuntaqui (Imbabura province). Provides analogous savings and credit products to a defined community under the same SEPS regulatory regime, making it a directly comparable cooperative peer.

Regional players

• Banco de Loja: Regional commercial bank in Ecuador's Loja region offering savings, credit, and digital banking. Comparable mid-size product offering with similar cooperative-region customer base, but operating in a different primary geography.

Broad incumbents

• Banco Pichincha: Ecuador's largest commercial bank, offering full retail and corporate banking including savings, consumer credit, and digital channels. Overlaps with COAC San Jorge's deposit and credit products but at vastly larger scale and broader geographic reach.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/cooperativa-de-ahorro-y-credito-san-jorge-ltda

Compliance1 record

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 COOPERATIVA DE AHORRO Y CREDITO "SAN JORGE" LTDA