Sicoob

Sicoob is the country's largest cooperative financial system with more than 4.2 million cooperatives, with 2,800 service points distributed throughout Brazil. It is composed of financial cooperatives and support companies, which jointly offer to the cooperative services of current account, credit, investment, cards, pension, consortium, insurance, bank collection, acquiring electronic means of payment, among others. That is, it has all the banking products and services, but it is not bank. It is a financial cooperative, where the clients are the owners and therefore the financial results are divided among the cooperative. Deposits in financial cooperatives are protected by the Credit Cooperative Guarantee Fund (FGCoop). This fund guarantees the deposits and credits held in individual credit cooperatives and cooperative banks in case of intervention or extrajudicial liquidation of these institutions. Currently, the limit value of this protection is the same as for depositors of banks.