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 members, 2,800 points of service, 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 services to members, among others.
It is the 5th largest bank 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 (wholly owned subsidiary of Bancoob, manager of third-party funds), Sicoob Previ (foundational entity, sponsored by Bancoob, provider of private pension solutions), Ponta Administração de Consórcios (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 Credit Union 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, the 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 Brazilian Credit Cooperative System, that is, it is the financial system that brings together members from all over the country.
What are the Sicoob bank opening hours?
Main products of Banco SICOOB
Banco SICOOB, as it is 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 (Bancoob) private payroll interest rate: 1.84% per month. This value is an average of the interest rate charged by Sicoob (Bancoob) for private payroll loans. These data are from the Central Bank of the last year of 2019.
How to create an account at SICOOB Bank? Is it possible to open online?
You can also open your account!
- Choose first 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. Usually, to join a cooperative you only need: …
- – Review the Bylaws. …
- – Deposit your share(s) share(s). …
- – Also open an account at 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 abroad and pay your bills anywhere in the world quickly and safely. See which 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 transfer assets and availability;
• Purchase and sale of checks in foreign currency;
• Property acquisition, 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?
Therefore, friends, take the opportunity to realize the dream of a brand new or used vehicle. With Sicoob Veículos Financing, you can purchase your car, motorcycle or heavy vehicle*, of any make and model, and you can even choose the most appropriate term to pay.
Anyway, for more information about SICOOB financing, Click here.
Is it worth getting a personal loan?
You need to do an online simulation at other banks and 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 fees and interest, but we can say beforehand that yes, it is worth it.
But anyway, try to do an online simulation on the bank's official website to be sure of 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 members.
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, ease of access to credit, service by trained professionals, possibility to consult the statement and others.
- Most competitive loan rates;
- Lower service fees;
- Better return on investments;
- Participation of the cooperative in the financial results;
- Personalized service;
- Democratic decisions;
- Investment in communities;
But can everyone open an account at SICOOB?
Yes of course. However, just 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 Secure Digital, it is common that many users want open account to enjoy special rates. Thus, the unit currently has more than three million members.
This institution offers the same services as a traditional bank, however, its differential is that it is aimed at members and because it is a cooperative bank.
Anyone interested in joining this Bank you need to have the following documents on hand: Proof of residence; CPF; Original ID or official photo identification document (driver's or work license).
