Cooperativa Santa Isabel Azuay Ecuador Secrets You Should Know
Cooperativa de Ahorro y Crédito Santa Isabel Ltda (CoopSi) is a credit union founded on April 5, 2013, headquartered at Tres de Noviembre S/N, Sucre, in Santa Isabel, Azuay Province, Ecuador, serving agricultural communities in the mid and lower Jubones River basin with savings and loan products. This cooperativa Santa Isabel operates in Ecuador's Segment 2 under the Superintendencia de Economía Popular y Solidaria (SEPS) regulation, focusing on farmers, ranchers, and small traders with a 41-year legacy of financial inclusion despite its formal incorporation date. In Q1 2025, it reported a 13.51% drop in net sales revenue but a robust 13.67% growth in total assets, signaling resilience amid economic pressures.
Historical Foundations
The roots of Cooperativa Santa Isabel trace back to 1978, when local leaders like Virgilio Barreto established it to support Azuay's farmers needing credit for crops and livestock. By 2013, it formalized as a limited company under Ecuadorian cooperative law, expanding from informal mutual aid to a regulated entity with agencies in Cuenca (El Batán) and Santa Isabel (Abdón Calderón). "Mi padre el Sr. Virgilio Barreto fue uno de sus gestores," recalls a founder's descendant, highlighting its origin as an agricultural lifeline in Santa Isabel Canton, home to 18,015 residents per the 2001 census.
Over 41 years, CoopSi has navigated Ecuador's financial reforms, joining the Unión de Cooperativas de Ahorro y Crédito del Sur (UCAC SUR) for regional strength. Historical data shows steady growth: from serving dozens of farmers in the 1980s to over 5,000 socios by 2025, with assets climbing 13.67% in early 2025 despite revenue dips. This evolution underscores its role in Azuay's rural economy, where agriculture dominates.
Core Services Offered
CoopSi provides tailored savings accounts, personal and agricultural loans, and microcredits, emphasizing quick delivery to improve socio quality of life. Its portfolio targets agriculture (60% of loans), ganadería (25%), and commerce (15%), with interest rates averaging 14-18% annually, below urban banks' 20%+. Members benefit from dividends averaging 4.2% on savings in 2024, paid annually on March 31.
- Savings plans with daily compounding interest up to 5% APY for long-term socios.
- Agricultural loans up to $50,000, repayable over 48 months, with flexible harvests-based schedules.
- Microcredits from $500-$5,000 for small traders, approved in 24 hours.
- Digital banking via app launched January 15, 2024, handling 30% of transactions remotely.
- Insurance tie-ups covering crop failures, with 98% claims payout rate in 2024.
Financial Performance Metrics
In Q1 2025, Cooperativa Santa Isabel achieved 13.67% total asset growth to approximately $25 million, driven by deposit inflows amid Ecuador's 3.2% inflation. Net revenue fell 13.51% to $1.2 million due to higher provisioning for rural loan defaults at 2.8%, below the national cooperative average of 4.1%. Equity stood at $8.4 million, with a capital adequacy ratio of 15.2%, exceeding SEPS minimums.
| Metric | Q1 2024 | Q1 2025 | Change (%) |
|---|---|---|---|
| Total Assets | $22M | $25M | +13.67 |
| Net Revenue | $1.39M | $1.2M | -13.51 |
| Loans Outstanding | $15M | $17.5M | +16.7 |
| Deposits | $18M | $20.2M | +12.2 |
| Non-Performing Loans | 2.5% | 2.8% | +0.3 pts |
This table illustrates CoopSi's balanced growth, with loans up 16.7% reflecting demand from Azuay's 12% agricultural GDP contribution.
Leadership and Governance
Rafael Pontón chairs the Consejo de Administración, leading a committee enforcing SEPS-compliant governance since the 2022 reforms. The board meets quarterly, with 2025 audits showing 100% compliance on transparency, including public financials posted by April 30 annually. "We prioritize socio backing in every decision," states Pontón in the 2024 annual report.
- Annual General Assembly on March 15 elects board for 3-year terms.
- Audit Committee reviews quarterly reports, flagging risks like the 2024 El Niño floods impacting 5% of loans.
- Risk Management Unit monitors portfolios, maintaining a 12:1 liquidity ratio.
- Socio Committee handles 500+ annual grievances, resolving 95% within 7 days.
- Training programs certified 1,200 staff hours in 2025 on anti-money laundering.
Community Impact Statistics
CoopSi has disbursed $150 million in loans since 2013, boosting Azuay's rural incomes by 18% per independent 2024 UCAC SUR study. It funds 40% of Santa Isabel Canton's tomato and maize production, supporting 2,500 direct jobs. In 2025, social programs educated 3,000 socios on financial literacy, reducing default rates by 1.2 points.
"La cooperativa destacó que continúa operando con el compromiso de siempre, brindando seguridad y respaldo en cada operación." - CoopSi Official Statement, 2025.
Challenges and Recent Events
Despite strengths, CoopSi faced a tragic bus incident on January 3, 2025, where a Cuenca-Loja route vehicle killed 13, injuring 28 - a stark reminder of transport risks for rural coops. Financially, the Q1 revenue dip ties to 2024 droughts raising defaults to 2.8%. Yet, asset growth shows strategic deposits from Cuenca expansion.
Santa Isabel Canton's geography - 3°16′27″S 79°18′56″W - amplifies CoopSi's role, as poor roads limit bank access. Mitigation includes $2 million in 2025 digital upgrades, cutting branch visits by 25%.
Future Outlook
CoopSi plans $10 million expansion by 2027, targeting 10,000 socios via mobile banking, per 2025 strategic plan. Partnerships with Banco del Austro could halve loan rates to 10%. With Azuay's population growing 2.1% yearly, demand for rural finance positions CoopSi for 20% annual growth.
Key stats project 2026 assets at $32 million, loans at $22 million, serving 7,000 active socios. Risks like climate volatility are hedged via $1.5 million reinsurance.
Membership Process
Joining requires ID, proof of Azuay residence, and $100 minimum deposit, approved in 48 hours. Benefits include voting rights and profit shares averaging $250/socio in 2024.
- Step 1: Visit branch or app registration.
- Step 2: Submit documents (cédula, utility bill).
- Step 3: Deposit initial savings.
- Step 4: Receive CoopSi card and access within 24 hours.
- Step 5: Attend orientation on products.
Competitive Landscape
| Coop | Assets 2025 | Socios | Loan Focus |
|---|---|---|---|
| CoopSi | $25M | 5,000+ | Agriculture |
| Coop Aeroccidente | $45M | 12,000 | General |
| Coop Loja | $18M | 4,200 | Commerce |
CoopSi leads in agricultural specialization, with 60% portfolio share vs. peers' 35%.
In summary, though titled "secrets," CoopSi's transparency via SEPS filings reveals a stable, community-driven powerhouse. Its 41-year track record, recent financials, and rural focus make it indispensable in Azuay.
Helpful tips and tricks for Cooperativa Santa Isabel Azuay Ecuador Secrets You Should Know
What is the exact address of Cooperativa Santa Isabel?
Tres de Noviembre S/N, Sucre, Santa Isabel, Azuay, Ecuador, with branches in Cuenca-El Batán and Abdón Calderón.
When was Cooperativa Santa Isabel founded?
Operations began in 1978; formal incorporation occurred on April 5, 2013.
What services does CoopSi provide?
Savings accounts, agricultural loans, microcredits, and insurance, focused on farmers and traders.
Is Cooperativa Santa Isabel regulated?
Yes, by SEPS in Segment 2, with UCAC SUR affiliation ensuring oversight.
How did CoopSi perform in 2025?
Q1 showed 13.67% asset growth but 13.51% revenue decline, maintaining strong liquidity.
