Feb 26 2017

Invest Your Savings in Coopenae

Updated February 26, 2017

Why invest in Coopenae?

  • Audited by Fitch Ratings (auditor of banks worldwide) from which we got excellent ratings (AA-): expectation of very low risk; risk differs very little from the highest possible ratings (see below for details).
  • Extensively monitored and controlled, just like other public and private banks in Costa Rica, by SUGEF (General Superintendence of Financial Entities) and our overall rating is an outstanding 1.10, where 1.00 is the best possible.
  • Audited by well-known international companies, last period, by Peat Marwick (KPMG Dec. 2016).
  • Controlled by the internal audit of Coopenae, and watched by an independent Committee of Investors at every home Branch.
  • Followed by the competition and valued by our Members.
  • The Costa Rican financial system has been changing. 20 years ago, Banco Nacional was 100 times larger than Coopenae; today, only 9 times. 20 years ago, Banco de Costa Rica was 70 times larger than Coopenae; today, only 7 times.

Credit Portfolio:
The loans we give are mostly to government employees, and payment is made monthly through automatic payroll deduction. Also, our performance in credit default on the loan portfolio late over more than 90 days in Dec. 2016 is only 0.86%, one of the lowest in the domestic financial market.

Excerpts from Fitch Ratings Report Regarding Coopenae – August 2016

fitchratingsheadlogoRobust Equity: Capitalization is Coopenae’s main strength, with an indicator of Capital Base according to Fitch Ratings of 21.3% at March 2016. This level provides a good capacity to absorb losses. The indicator of capital of the company has been gradually reduced in terms of growth, albeit much slower than their peers in the credit union sector.

Portfolio impairment low: Coopenae maintains a good portfolio quality, based on appropriate risk administration and management structure with direct discount charges through payroll deduction. In March 2016, loans late over 90 days accounted for 0.9% of total loans (credit default rate), a level that is favorably compared to other credit unions qualified by the agency.

Good liquidity and term mismatching: The liquidity of the institution is good and is made mostly by local securities available for sale. These liquid assets cover about half of total deposits, exceeding the average level of their peers in the credit union sector.

The company ranks first in terms of assets with a market share of 24.3%. The franchise of the institution is strong within the credit union system. As for deposits, it holds first place with a share of 25.1%, which shows largest passive franchise in the sector.

The institution does not have goals related to maintaining market position, but instead favors a healthy sustaining of the institution’s performance. It is observed that they stay within their annual budgets.

Risk appetite: Moderate Risk appetite is favorable against peers in the credit union sector. The Coopenae risk appetite is moderate, this is reflected in its portfolio growth lower than that of their peers and more prudent loan volumes. This is demonstrated in the improved quality of assets of the credit union compared to its peers. The institution has remained true to its segment (government employees), of which it has a good knowledge. Recently, the institution made some adjustments in policies to become more restrictive, by observing an increased credit default rate in 2015 within the credit union system.


We feel an obligation to regularly inform our Members (current and potential) on our performance in order to have the possibility to follow up on the results that are obtained. That is why Coopenae is the largest Costa Rican supervised private financial company and the 3rd largest in Latin America.

Current (February 2017) Certificates of Deposit Rates for Investments in Colones:

Asdrúbal ZamoraCoopenae_logo_240w
National Investment Officer & Expat Liaison
Cell Phone (+506) 8811-1602

View and/or download Coopenae’s corporate presentation below:

Download (PDF, 1.02MB)




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