CONFEDERATION OF SAVINGS AND LOAN COOPERATIVES OF MEXICO
1In 2009, the General Law of Cooperative Societies was modified and the Law to Regulate the Activities of Cooperative Savings and Loan Societies, LRASCAP, was issued so that, in the first law, everything related to the constitution and organization of all cooperatives in general, and in the second law, what is related to the regulation, supervision and operation of savings and loan cooperatives was established. The new legislation established the existence of a single confederation that would unite and represent all savings and loan cooperatives, so that the agencies existing at that time, COFIREM (technical function), and COMACREP (political function), decided to self liquidate to give birth to the new confederation, which was established at the end of 2009 with the name of Confederación de Cooperativas de Ahorro y Préstamo de México (CONCAMEX).
The Concamex structured 8 strategic axes to give work to its national systematic actions with a focus on the development of the greater capital of a cooperative organization, the partners, in addition to the promotion, representation and defense of the cooperative model. The strategic axes: Consolidation of the sector; Institutional comunication; Institutional representation and political action; Professionalization of the sector; Organizational culture; Strategic information of the sector; Integration and economies of scale; Digital technologies.
All Savings and Loan Cooperatives represented by Concamex operate in compliance with the law, registered and supervised by the Trust Fund for Auxiliary Supervision of Savings and Loan Cooperative Societies and Protection of their Savers (FOCOOP) and those authorized by the Secretariat Treasury and Public Credit (SHCP) being endorsed by the National Banking and Securities Commission (CNBV), the body responsible for supervising and regulating the entities that make up the Mexican financial system. Additionally, they are subject to the Law to Regulate the Activities of Cooperative Savings and Loan Societies (LRASCAP), by virtue of the financial activity of collection (saving) and placement (loans) they carry out. In this way the ordering is defined, through the process of registration, authorization, permitted operations and surveillance, as part of the protection of the members' savings.
2Concamex is the state's consultation and collaboration body for the design, dissemination and execution of policies, programs and instruments for the promotion, consolidation, development of cooperative savings and loan societies and their federations, representing 10 affiliated Federations to 130 Savings and Loan Cooperatives with a national presence, being our objective to ensure the interests of all our savers that as of June 2019 add up to more than 6 million of the 8 million members that make up the Savings and Loan Cooperatives sector.
See Authorized Savings and Loan Cooperative Societies
1La Economía Popular y Solidaria: Un modelo viable de desarrollo económico. Documentos de trabajo 2018. Superintendencia de economía popular y solidaria. Ecuador.
"being a cooperative
is a way of life"