LIMA, PERU – In a move to bolster financial security for savers, Peru's Superintendent of Banking, Insurance and AFP (SBS) announced that the Cooperative Deposit Insurance Fund (FSDC) has extended its coverage to include deposits in 131 credit cooperatives (Coopac) this year.

This milestone follows the Coopacs' fulfillment of contribution payments over a 24-month period, as required by the legal framework governing savings and credit cooperatives.

The FSDC, a private legal entity, is dedicated to safeguarding the deposits of members in Coopacs that are duly registered in the National Registry of Savings and Credit Cooperatives not authorized to raise funds from the public.

In the event of a Coopac's bankruptcy, the FSDC will cover member savings up to a maximum of 5,000 soles for Tier 1 and 2 Coopacs with total assets less than or equal to 32,200 tax units (UIT). For Tier 2 Coopacs with total assets exceeding 32,200 UIT and Tier 3 Coopacs, the coverage extends up to 10,000 soles.

A comprehensive list of Coopacs with coverage can be found on the SBS website. Savers are advised to verify their Coopac's inclusion in this list to ensure their deposits are protected.

If a Coopac soliciting member deposits is not listed, it indicates that they have not yet fulfilled their contribution payments. Once these payments are regularized, the Coopac will be promptly added to the FSDC's coverage list.

For inquiries or concerns, members can reach out through the following channels:

Toll-free national hotline: 0-800-10840 (available Monday to Friday, 8:00 AM to 5:30 PM)
Chat (available Monday to Friday, 8:00 AM to 5:30 PM)
Consultation mailbox and Facebook page inbox