Peru's Superintendency of Banking, Insurance and Pension Funds (SBS) announced that, under the legal framework for savings and credit cooperatives (Coopac), the Cooperative Deposit Insurance Fund has started covering deposits of member savers from 2025. SBS reported that 131 Coopac are currently covered after evidencing payment of their contributions for 24 months. Coverage applies to deposits placed with Coopac that are duly registered in the National Register of Savings and Credit Cooperatives Not Authorised to Take Funds from the Public. In the event of a Coopac bankruptcy, insured savings are covered up to PEN 5,000 for level 1 and level 2 Coopac with total assets of up to 32,200 tax units (UIT), and up to PEN 10,000 for level 2 Coopac with total assets above 32,200 UIT and for level 3 Coopac. SBS noted that any deposit-taking Coopac not appearing on the coverage list has not yet paid all required contributions and will be added once payments are regularised.
Superintendencia de Banca, Seguros y AFP del Peru 2025-02-04
Peru's Superintendency of Banking, Insurance and Pension Funds announces start of cooperative deposit insurance coverage for 131 savings and credit cooperatives
Peru's Superintendency of Banking, Insurance and Pension Funds (SBS) announced that from 2025, the Cooperative Deposit Insurance Fund will cover deposits of member savers under the legal framework for savings and credit cooperatives (Coopac). Coverage applies to 131 Coopac that have paid contributions for 24 months, with insured savings up to PEN 5,000 for level 1 and 2 Coopac with assets up to 32,200 tax units (UIT), and up to PEN 10,000 for level 2 Coopac with assets above 32,200 UIT and level 3 Coopac. Deposit-taking Coopac not on the coverage list will be added once contributions are regularised.