Fecolfín are the specialised Federation of Credit and Savings Cooperatives of Colombia with headquarters in the city of Bogotá. Fecolfín was created in May 2012 as a second degree Cooperative body that integrates only Cooperative entities with financial activity.
Its main objective is to assume the defence and representation of the Savings and Credit & Financial Cooperatives as a specialised union, especially in regulatory matters, which affect the free competition of this sector and the equality rights enshrined in the Colombian Constitution, compared to traditional financial operators. Likewise, advance the union defence of this sub-sector and promote modern and inclusive legislation based on the issuance of public policies by the Colombian state, to generate a country of owners through the financial cooperative model. Finally, promote the orderly and systematic growth of its affiliates especially, in the link of new associates to these self-management entities.
OPERATIONAL PRINCIPLES
• Advocate for good cooperative government
• Transparency, responsibility, suitability, honesty and commitment
• Application of the best known business practices in the world
• Financial, technological, administrative, environmental and social field
• Specialized union defense of cooperativism
• Consistent and unique integration model
• Promote own, modern and inclusive legislation
• Design of public policies that facilitate growth, under equal conditions
• Represent the union at national and international level
• Promote financial inclusion
• Co-branded
• Create value, face the competition and participate with a greater proportion of the market
• Promotion of institutional capital
• Accumulation of own capital to generate confidence and security
• Digital leadership
• Innovation and digital entrepreneurship through immersion in new knowledge
As a specialised union of savings and credit cooperatives, financial and financial entities owned by cooperative groups with a presence in more than 51% of entities such as banks or other non-cooperative entities, FECOLFIN currently has 56 cooperative entities: 49 Cooperatives of Savings and Credit, two Financial Cooperatives, two cooperatively owned Banks and a cooperatively owned commercial finance company.
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