Many people do not know that SICOOB, Credit Cooperative System, is the largest cooperative financial system in Brazil, according to recent surveys, there are more than 4.3 million cooperative members, 2,800 service points, distributed throughout the country.
It is composed of financial cooperatives and support companies, which together offer current account, credit, investment, cards, pension, consortium, insurance, bank collection, acquisition of electronic means of payment, among others.
It is the 5th largest banking service network in Brazil, after Banco do Brasil, Bradesco, Caixa Econômica Federal, and Itaú. According to the bank, in 2018 alone, the net surplus (profit) was R$ 3.12 billion.
Non-cooperative organizations that make up Sicoob:
Banco Cooperativo do Brasil S/A (Bancoob), Bancoob DTVM (a wholly owned subsidiary of Bancoob, manager of third-party funds), Sicoob Previ (foundational entity, sponsored by Bancoob, provider of private pension solutions), Ponta Administradora de Consortia (wholly-owned subsidiary of Bancoob, responsible for consortium products),
Also part of Banco Sicoob, Cabal Brasil (joint venture between Bancoob, Controller, and Grupo Cooperativo Argentino, with the roles of card processor, brand and acquirer, in this case especially in relation to the BNDES card) and the Credit Cooperative Guarantee Fund (FGCoop).
How does Banco Sicoob work?
The business model of a cooperative bank works like this: you are more or less the owner of your own bank. That is, you who are the cooperative member, participate in all decisions and profits, in the case of cooperatives, profits are called leftovers.
The cooperative bank also offers all the services that a traditional bank offers. To be validated, the cooperative needs to be connected to a supreme body. Therefore, in this case, Banco Cooperativo do Brasil, Sicoob.
The cooperative bank Sicoob is the System of Credit Cooperatives in Brazil, that is, it is the financial system that brings together members from all over the country.
What are the opening hours of the Sicoob bank?
Main products of Banco SICOOB
Banco SICOOB, being a private and corporate bank, works with various products, vehicle financing, home financing, home appliances, personal loans, special credit, and many others.
What are your fees and interest?
Sicoob's (Bancoob) private payroll-deductible interest rate: 1.84% per month. This value is an average of the interest rate practiced by Sicoob (Bancoob) for the private payroll. These data are from the Central Bank for the last year of 2019.
How to create an account at Banco SICOOB? Is it possible to open online?
You can also open your account!
- First choose what type of account you need, i.e. university account, account for receiving payment only, account for large financial transactions, etc…
- He chose?
- – Gather the necessary documents. Normally, to join a cooperative you only need: …
- – Review the Bylaws. …
- – Deposit your share(s) part(s). …
- – Also open an account with a cooperative financial institution
Do you have an agency outside Brazil?
According to official bank information (where you can check by clicking here) you can send or receive funds from abroad and pay your bills anywhere in the world quickly and securely. See what services:
• Main international activity: Import and export;
• You can also: receive / pay for courses, conferences and maintenance of residents abroad;
Another important thing: the receipt / payment of services, rents and loans;
It is possible to make transfers of assets and availability;
• Purchase and sale of checks in foreign currency;
• Acquisition of property, among others.
What is the Sicoob cooperative code?
Is it worth getting a car loan?
Yes, it is definitely worth it, because with SICOOB financing, you will finally be able to conquer your new vehicle with installments that fit in your pocket.
Who doesn't dream of having that car of the year, right?
So friends, take the opportunity to fulfill the dream of the 0 km or used vehicle. With Sicoob Veículos Financing, you can purchase your car, motorcycle or heavy vehicle*, of any make and model, and you can also choose the most appropriate term to pay.
Anyway, for more information about SICOOB financing, Click here.
Is it worth getting a personal loan?
It is necessary to do an online simulation in other banks and you compare the rates according to the amount you want to get, as the Bank works in a more particular way than the others, it is possible that you will not be pleased with the rates and interest, but beforehand we can say that yes, it is worth it.
But anyway, try to do an online simulation on the bank's official website for you to be sure what we are talking about, the official link is in the course of this article.
What are the advantages of Sicoob bank?
We can say that the great benefit of having an account at Sicoob is the possibility of having the profits divided among associates.
In this way, the profit can be divided with this, the more people invest and deposit guarantees a profit, but in addition, Sicoob has complete financial solutions. This is due to the wide service network, in addition to other benefits.
Among them, we have reduced rates, easy access to credit, service by trained professionals, possibility of consulting the statement and others.
- More competitive loan rates;
- Lower service rates;
- Better return on investments;
- Participation of the cooperative member in the financial results;
- Personalized service;
- Democratic decisions;
- Investment in communities;
But can everyone open a SICOOB account?
Yes sure. However, like any bank, there are rules that you need to follow, as the bank has a special criteria for approval, which differs from other banks, so, first of all, you must gather mandatory documentation.
It is important to say that Sicoob is a traditional cooperative bank in Brazil, therefore, readers of the Digital Insurance, it is common that many users want open account to take advantage of special rates. In this way, the unit currently has more than three million members.
This institution offers the same services as the traditional bank, however, its differential is that it is aimed at members and because it is a cooperative bank.
Those interested in being part of this Bank you must have the following documents in hand: Proof of residence; CPF; Original ID or official photo identification document (driver's or work license).
