What magicredi rj does

MAGICREDI RJ (legal name: Cooperativa de Crédito dos Magistrados do Estado do Rio de Janeiro LTDA) is a non-profit credit cooperative founded in 2002 and headquartered inside the Tribunal de Justiça do Estado do Rio de Janeiro (TJRJ) building. It exclusively serves active and retired magistrates of the Rio de Janeiro state court system, their dependents, and employees of associated entities such as AMAERJ and Mútua dos Magistrados, with a current membership of approximately 496-500 associates. The cooperative operates under BACEN regulation (Resolutions CMN 4.434, 5.051, and Circular 3.978/20) and is a member of the FGCoop deposit guarantee fund covering balances up to R$250,000 per CPF.

The product portfolio is bifurcated into credit and investment lines. Credit offerings include Crédito Consignado (payroll-deducted, rates 1.25%-1.60% monthly), Crédito Pessoal, Empréstimo Imobiliário (launched January 2025), Refinanciamento from other institutions, and various salary/vacation/IRRF advances. Investment products are branded under the "Magi" family — Magi-Multi, Magi-Fix 12/24/36, Magi-Pós 60, Magi-Max 115 (115% of CDI), MAGI INVEST Programado, and MAGI-Kids — yielding 87% to 115% of CDI with no administration or loading fees. Distribution occurs via the single Rio de Janeiro headquarters, a mobile app on iOS (July 2025) and Android (April 2025), WhatsApp, telephone, and partnerships (notably Caixa Econômica Federal for housing/real estate consortium up to R$700K).

Revenue is generated primarily from interest spread on loans and returns on the cooperative's own fixed-income portfolio (Títulos de Renda Fixa TVM). H1 2024 gross revenue was R$ 2,020,634.48, yielding net profit of R$ 188,779.45 and EBITDA of R$ 202,681.33 (10% EBITDA margin). As a cooperative, surpluses ("sobras") are redistributed to members rather than retained as profit, and operations are exempt from IOF and credit-opening fees. The go-to-market is community-led, relying on institutional integration with TJRJ and AMAERJ, word-of-mouth within the judicial community, and social media (Instagram, Facebook, LinkedIn @magicredirj).

Name

magicredi rj

Legal name

Cooperativa de Crédito dos Magistrados do Estado do Rio de Janeiro LTDA

Website

https://magicredi.com.br

Company type

Private

Founded year

2002

Operating status

Operating

Short description

Non-profit credit cooperative founded in 2002 serving approximately 500 magistrates of the Rio de Janeiro state court system with below-market loans, CDI-linked investments, and digital banking services.

Ownership category

akta.pro rank

Headquarters

HQ city

Rio de Janeiro

HQ country

Brazil

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Loans: The primary revenue stream comes from interest charged on credit operations including consignado (payroll-deducted loans), personal loans, and real estate financing with fiduciary guarantee. Interest rates range from 1.25% to 3.80% per month depending on loan type, term, and whether it is a refinancing or new operation. The cooperative returns interest surpluses to members in the form of 'sobras' (distributed earnings).
2. Fixed Income Investment Returns: Revenue generated from the cooperative's own fixed income investments (Títulos de Renda Fixa TVM), which contributed approximately R$ 199,131.52 in the first half of 2024. Returns are passed on to members through favorable investment rates.
3. Service Fees: Fees from providing financial services to members, including insurance intermediation through partnerships with Icatu Seguros and Parceria Seguros. A small amount of R$ 9,906.17 was generated from service fees in the first half of 2024.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

MAGICREDI is a non-profit credit cooperative (Cooperativa de Crédito dos Magistrados do Estado do Rio de Janeiro) that provides investment products (Magi-Multi, Magi-Fix 12/24/36, Magi-Pós 60, MAGI-Kids, Magi-Max 115, and 110% CDI yielding 87%-110% of CDI) and loan products (consignado, personal credit, investment-backed loans, refinancing, salary/bonus/vacation advances, and real estate financing) exclusively to magistrates of the State of Rio de Janeiro court system and their families. The cooperative operates on mutualist principles, redistributing surpluses to members, with FGCoop-guaranteed deposits up to R$ 250,000 per CPF, no IOF on credit operations, and no investment administration fees.

Product overview

MAGICREDI is a credit cooperative (Cooperativa de Crédito dos Magistrados do Estado do Rio de Janeiro) offering a unified portfolio of financial products exclusively to magistrates and their families. The product suite centers on investment products (the Magi series: Magi-Multi, Magi-Fix 12/24/36, Magi-Pós 60, Magi-Invest Programado, MAGI-Kids, and the flagship 110% do CDI) and loan products (Crédito Consignado, Crédito Pessoal, Empréstimo Imobiliário, Refinanciamento, and salary/vacation/bonus advances). Complementary services include vehicle armoring partnerships, insurance products (Parceria Seguros, Icatu Seguros), and a mobile banking app for iOS and Android. The cooperative distinguishes itself through below-market rates, FGCoop deposit protection up to R$250,000, and absence of administrative fees.

Differentiator

Problem solved

Functional benefit

Brands

• MAGI INVEST Programado: Long-term investment program with special rates and tax benefits after 18 months
• MAGI-Kids
• Magi-Multi
• Magi-Fix 12
• Magi-Fix 24
• Magi-Fix 36
• Magi-Max 115

Products and services

• Magi-Multi

Quantifiable outcome

• 1st place ranking among independent credit cooperatives in Rio de Janeiro (2024 Assets category)
• +3 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• AMAERJ (Associação dos Magistrados do Estado do Rio de Janeiro)coreStrategic or Co-development Partner · 10 September 2025MAGICREDI and AMAERJ maintain a strategic institutional partnership focused on collaboration and mutual support for Rio de Janeiro magistrates. The 2025 meeting between AMAERJ President Judge Eunice Haddad and MAGICREDI representatives explored new partnership opportunities. AMAERJ's institutional support and MAGICREDI's financial services create a synergistic relationship benefiting the magistrate community.
• Fucape Business School and Sistema OCB/Sescoop-RJminorStrategic or Co-development Partner · 28 May 2025MAGICREDI received representatives from Fucape Business School and Sistema OCB/Sescoop-RJ for a productive meeting. Fucape offered to provide courses on financial cooperativism for all cooperados, with potential partnership with ESCOLA DA MAGISTRATURA. The OCB/Sescoop representatives included President Vinícius de Oliveira Mesquita and Superintendent Abdul Nasser.
• Caixa Econômica Federal (CEF)coreChannel Partner/ Reseller/ Distributor · 17 December 2012Partnership for housing financing and real estate consortium products. CEF provides financing services while MAGICREDI facilitates access for its members with preferential conditions including reduced adhesion fees (40% reduction) and extended terms (up to 200 months). Letters of credit available up to R$ 700,000 with administration fee reduced from 18% to 15% for amounts above R$ 400,000. The partnership extends to the general public, not just MAGICREDI members.
• Icatu SeguroscoreStrategic or Co-development PartnerLeading independent insurance company in the Brazilian market for Life and Pension products. Icatu provides insurance coverage for MAGICREDI's credit operations, serving as a guarantee mechanism for loans alongside the pecúlio of Mútua dos Magistrados. The partnership ensures all credit operations are secured through insurance, reducing risk for the cooperative.
• Parceria SegurosminorChannel Partner/ Reseller/ DistributorInsurance brokerage firm operating for over 10 years, offering tailored insurance solutions for clients. Works with the most important and reputable insurance companies in Brazil. Provides vehicle insurance and other coverage options to MAGICREDI members through the partnership.
• Total ProtectionminorChannel Partner/ Reseller/ DistributorVehicle armoring service provider. Partners with MAGICREDI to offer exclusive advantages to cooperados including facilitated payment in up to 24 installments, Level 3A blindage with 10-year guarantee, armored film option, pickup and delivery service ('leva e trás'), and 50% discount on maintenance reviews.
• Mútua dos Magistrados do Estado do Rio de JaneirocoreStrategic or Co-development PartnerMútua dos Magistrados is a MAGICREDI cooperative member and also provides pecúlio (death benefit) insurance as a guarantee mechanism for MAGICREDI credit operations. Employees of Mútua are also eligible to become MAGICREDI cooperados. The relationship is both operational (insurance guarantee) and institutional (shared membership base).
• FGCoop (Fundo Garantidor do Cooperativismo de Crédito)coreOthersThe Deposit Guarantee Fund for Credit Cooperatives protects all deposits held at MAGICREDI up to R$ 250,000 per CPF or CNPJ. This is a regulatory protection mechanism mandated by BACEN, not a voluntary partnership. It covers checking accounts, savings, and investments such as CDB/RDB, Letras de Câmbio, Letras Hipotecárias, LCI, and LCA.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Cooperjuris: Brazilian credit cooperative serving professionals in the justice sector (judges, prosecutors, public defenders). Closely comparable profession-specific niche model targeting the same judicial ecosystem as Magicredi.
• Unicred: National credit cooperative system serving healthcare professionals in Brazil. Directly comparable profession-restricted cooperative model with shared deposit, lending, and mutualist value proposition.
• UNIPRIME: Brazilian credit cooperative focused on professionals (e.g., engineers, accountants, lawyers). Closely comparable single-niche cooperative model with similar membership-based lending and investment products.
• Viacredi: Credit cooperative affiliated with a large Brazilian retailer, focused on a specific professional/employee membership base. Comparable in serving a closed professional community with lending and investment products.

Broad incumbents

• Sicoob: One of Brazil's largest cooperative financial systems, offering a full range of banking, lending, and investment products across all professions. Comparable cooperative governance and product structure but vastly broader scope than Magicredi.
• Sicredi: Large Brazilian credit cooperative system with nationwide presence, full banking license, and broad community/membership model. Shares the cooperative mutualist structure and credit/lending products.
• Ailos: Brazilian credit cooperative system serving a defined membership base with full banking services. Shares the cooperative mutualist model, deposit-taking, and loan portfolio approach with Magicredi.
• Banco do Brasil: Major Brazilian bank and dominant consignado lender to public servants, including magistrates. Direct competitor for the same payroll-deducted lending business that anchors Magicredi's loan book.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/magicredirj
• LinkedInlinkedin.com/company/magicredi-rj
• Instagraminstagram.com/magicredirj

Compliance16 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 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 magicredi rj