Unfortunately, in remote small towns there are often no branches of banks and microfinance organizations.

There are 64 credit consumer cooperatives in Yakutia

Where can a rural resident get a loan and who can he trust his savings to? For an answer to this question, we turned to the Deputy Manager of the Branch - National Bank for the Republic of Sakha (Yakutia) of the Far Eastern Main Directorate of the Central Bank Russian Federation Andrey Gridnev.

In our region there are remote settlements, villages where people live a large number of people who have nowhere to get funds to finance their needs. An alternative to banking services for residents of these places could be a consumer credit cooperative (CCC). While this is not the most popular tool among the general public, PDAs are present in the country’s financial market and are actively developing. Today, there are 64 consumer credit cooperatives in the republic, 56 of which are agricultural.

How is a cooperative different from a bank?

How does a consumer credit cooperative differ from banks and microfinance organizations, who does it lend to and how, and where does it get funds for issuing loans?

Credit consumer cooperatives (CPCs) are similar to mutual aid funds that existed, as many remember, in Soviet times. To solve their financial problems, people or companies from the same village, region, or profession can unite in a CPC on a voluntary basis. They throw themselves into a “common pot” (mutual financial assistance fund) and themselves can borrow part of this money at interest. For example, farmers can create an agricultural CPC and take out loans from it for the needs of their farms. In a cooperative, you can get loans not only for business, but also for personal needs (furniture, repairs, equipment - anything). The interest rate is usually higher than in banks, but it is easier to obtain. On the contrary, you can invest your free money in a PDA and get more income than from a bank deposit.

Anyone can create a cooperative

- How to create a cooperative? Are there any requirements?

First, as I said, you need to find like-minded people. The most can unite in the CPC ordinary people, they must gather at least 15 people. If companies, that is, legal entities, decide to create a cooperative, then there must be at least 5 of them. There are also cooperatives mixed type- they include both ordinary citizens and legal entities. In this case, their total number must be at least 7. Over time, the circle of shareholders can be expanded.

Members of the cooperative need to immediately determine the specialization of the CPC - whether it will work, for example, with entrepreneurs, only with farmers or with all consumers. This is important to do because the rules are different for them. (The work of agricultural CPCs is regulated by the law “On Agricultural Cooperation”, and the work of other CPCs is regulated by the law “On Credit Cooperation”.) Also, members of the cooperative must create a charter and establish: the size of the minimum share of the participant, at what percentage and in what amount loans will be issued and raise funds.

Each CCP must be a member of one of the self-regulatory organizations or audit unions. The cooperative chooses such an organization independently, from the Register of SROs of the financial market, which is published on the website of the Bank of Russia www.cbr.ru. The conditions for agricultural CPCs are a little more complicated: they must be members of one of the audit unions, and the union must be a member of the SRO. Registers of audit unions can be found on the Internet.

Pros and cons of membership in a co-op

- Can people who are not members of the cooperative take out loans?

No, only members of the cooperative and no other people or organizations can borrow money from the CCP. At the same time, the CPC has the right to raise money from third-party companies, but not from individuals who are not members of the cooperative.

- What are the pros and cons of participating in the CPC?

In my opinion, there are more pros than cons. The advantage is that all shareholders can take out a loan for their needs without collecting a lot of certificates and documents. If difficulties suddenly arise with the timely repayment of the loan, you can agree with the cooperative on changes to the terms of repayment, because the CPC was initially created to help its participants, and not to make a profit.

The cooperative accepts any amount of savings, and the income from them is usually higher than from bank deposits. Members of the CCP can leave the cooperative at any time and withdraw their shares. The disadvantages include the interest rate for using a loan, which is usually higher than for a bank loan and the fact that government system Deposit insurance does not cover the savings of shareholders.

Many CCPs independently enter into contracts with insurance companies and mutual insurance companies. At the same time, CCPs make contributions to the compensation fund of a self-regulatory organization in the amount of 0.2% of their average annual assets.

When managing a cooperative, its shareholders bear a very large responsibility. All members of the CPC are responsible for the consequences of their activities and for possible losses. If losses occur, participants will have to make additional contributions to cover them. Therefore, each member of the cooperative needs to participate in meetings, study reports and follow the news.

How to choose a cooperative?

Some unscrupulous companies use network marketing technologies, for example, offering bonuses to those who refer others to the cooperative.

In order not to get into an unpleasant situation and not lose your money, we recommend that readers seek information from the information and educational resource of the Bank of Russia fincult.info, where you can find information about various financial products and precautions and improve your financial literacy.

And also study the Memo posted on the website, developed by the League of Credit Unions in order to protect the interests of members of cooperatives.

Considering that a fairly large amount of agricultural land is located in areas of the republic where there is no variety of financial institutions, CPCs provide the necessary support to agricultural producers and play a very important role in ensuring financial inclusion.

Consumer credit cooperatives are gaining increasing popularity among the population as a profitable alternative to bank deposits.

Today, the Central Bank register includes more than two thousand CPCs located throughout our country.

Moscow is no exception, and therefore in this short article we will talk about the five most popular, in our opinion, capital credit cooperatives.

A relatively young, but energetically developing cooperative. Management, with the active participation of shareholders, is constantly working to introduce modern IT solutions into the business structure.

This year, a privilege program and system were launched personal account, with the help of which members of the cooperative can monitor and manage the status of their personal account online.

Savings terms:

• interest rate – from 13.9%

KPC "Dobrynya" is a member of the SRO "Soyuzmicrofinance".

The cooperative, founded in 2012, has now become a full participant in the cooperation market, and more than 2,000 people have become its shareholders during this time.

Savings terms:

• interest rate – up to 13.95%
• deposit amount – from 10 thousand rubles
• early withdrawal – no
• additional insurance - JSC "Insurance Company Opora"

KPK is a member of the SRO NP "People's Cash Offices" - Soyuzsberzaim.

A cooperative of the classical, conservative type. The focus of work, primarily on the safety of the savings of shareholders, forces us to choose the most reliable options for using assets, which are often not the most profitable.

Savings terms:

• interest rate – 13.95%
• deposit amount – from 10 thousand rubles
• deposit period – from 1 month
• early withdrawal – at the deposit rate
• additional insurance - NPO "MOVS"

The relatively low maximum interest rate on deposits is a direct consequence of the main goal of the credit cooperative - reliability above all else.

KPC "Rodnik" is a member of the SRO "Soyuzmicrofinance".

Operating since 2014. Until recently, it was called KPC “Doverie”, but at the next meeting, in order to improve the brand image, the shareholders decided to change the name of the cooperative.

Savings terms:

• interest rate – from 13.9%
• deposit amount – from 10 thousand rubles
• deposit period – from 1 month
• early withdrawal – at a rate of 5.5%
• additional insurance - NPO "MOVS"

It is one of the main players in the Moscow consumer lending market and the leader in the rating of the portal “We are the credit community” in terms of the number of customer reviews and their ratings.

KPC "Dobrynya" is a member of the SRO "Cooperative Finance".

One of the oldest credit cooperatives in Moscow, it has been operating since 2011. Shareholders are offered enough wide choose deposit programs with different conditions placement of funds.

Savings terms:

• interest rate – up to 13.9%
• deposit amount – from 10 thousand rubles
• deposit term – from 3 months
• early withdrawal – at a rate from 1% to 7%
• additional insurance – no

Number of options and conditions deposits This CPC is probably the most impressive among all Moscow cooperatives.

IKKK is a member of the SRO "Cooperative Finance".

Please note that all PDAs presented in the article are active organizations included in the official register of credit consumer cooperatives of the Central Bank.

You can find out more information about the Moscow CPC in our rating of cooperatives, compiled, among other things, based on reviews of the shareholders themselves.

If we talk in simple language, then a cooperative can be called an association of individuals and/or legal entities for the purpose of financing each other within the same organization.

Supervision of these financial institutions carried out by the Central Bank of the Russian Federation. Concerning legislative framework, then until 2009 regulation was carried out according to No. 117-FZ. However, since July it was replaced by No. 190-FZ “On Credit Cooperation”.

Detailed information about the names of existing consumer credit cooperatives of citizens can be found in the unified state register on the website of the Central Bank of the Russian Federation in the “Financial Market Participants” tab.

What does he do?

primary goal consumer credit cooperative consists of mutual financial assistance between its members. Some receive money to solve their problems/tasks/plans, while others give it for temporary use (loan) in order to receive benefits in the form of%. For investors, this is an excellent opportunity to earn good interest for providing funds. After all, for the most part, the cooperative’s money is spent on providing microloans to its members. The interest rates of shareholders are many times higher bank rates by deposits. For example, the CPC “Family Capital” offers shareholders from 24% per annum; in the CPC “DaNaYa” you can get up to 23% profit. That is, the main activities of credit cooperatives are:

• Acceptance of savings
• Issuance of microloans

The capital of almost every credit cooperative consists of the personal funds of shareholders, as well as attracted investments and money received from direct activities.

Member Payments

Any cooperative has its own fees, which vary depending on the type and name of the organization. Among the main ones are:

1. Opening. It is not available in all organizations, but it does exist. The entry fee is paid once upon entry.
2. Membership. Paid by members of the organization monthly, annually or quarterly.
3. Share. Money that shareholders give to the credit cooperative for temporary use. Subsequently, interest will be charged on this money. These funds are used to issue loans to those participants who need financial assistance.

Based on these contributions, funds are created:

1. Share. This money goes to directly finance the organization's activities.
2. Spare. It is needed for unforeseen situations that require additional costs if they occur
3. Mutual Help Fund. Money from this fund is used to pay off microloans

Most of the cooperation funds are spent on providing loans to its participants. In such cases, a microloan agreement is drawn up between the lender (cooperation) and the borrower (its member). As additional measures precautions, it can be supported by a guarantee, collateral, etc. In most cases, cooperatives provide loans secured by property, maternal capital or guarantee. However, there are trust funds that are issued in small amounts to those shareholders who have proven themselves well in a given organization.

All income received at the end of the quarter/year is distributed among the members of the credit cooperative strictly in proportion to the size of their share contributions. The higher the share contribution, the greater the shareholder's income. Dividends are paid by adding to share contributions, or by issuing cash Money. Such conventions are spelled out in the charter or decided at a special membership meeting.

I would also like to note that credit cooperatives cannot issue loans to persons who are not its participants. They also cannot act as guarantors or guarantors for loans from their participants/other organizations.

There are certain conditions for maximum loan amounts. For example, a credit cooperation does not have the authority to issue a loan to one member in the amount of more than 10% of those already issued. For new organizations operating for less than 2 years, the threshold was increased to 20% of the amount. For example, if the total amount of funds issued is 100,000 rubles, then he does not have the right to issue a loan in an amount of more than 10,000 rubles, which is 10% of the total debt.

Taking off the masks

You can't do without a fly in the ointment. Often, many financial pyramids pose as credit cooperatives, collect contributions and, as they say, “Adios.” How to recognize scammers here? There are several secrets:

• Credit cooperation a priori cannot be LLC, CJSC, OJSC, because this is non-profit organization. Therefore, carefully study all documents and charter before joining.
• Inflated interest on contributions. For example, 20-30% per month - such a figure should alert anyone.
• Pronounced marketing activity.

There are other reasons why some organizations can be classified as pyramids, for example, if the credit cooperative is not part of any association. Cooperations that are less than 2 years old deserve special attention. The requirements for them are much more loyal than for their older brothers.

Similarities and differences between MFOs and cooperatives

The most important and perhaps the only similarity between these organizations is the contingent of borrowers (middle class). Both organizations accept funds at %. However, the minimum amounts, as well as the percentages, are different everywhere. Either way, the funds of depositors/shareholders are not subject to mandatory DIA insurance and do not guarantee 100% payment in the event of bankruptcy.
Read also:
There are indeed a lot of differences between these financial institutions. Firstly, a microfinance organization is private company, the main activity of which is to obtain maximum profit in the interests of its owner or group of persons. A cooperative is a non-profit organization, which means that benefit or profit is not a priority. A cooperative is an association of people organized to attract funds from shareholders and their further placement in the form of loans provided. Secondly, the differences lie in interest rates on loans. In MFOs it is much higher. Thirdly, it is quite difficult to get a loan without collateral or guarantors in a cooperative. In MFOs, loans are issued according to one or two documents, and there is no need to make any contributions, etc.

Examples

Credit cooperatives can be divided not only according to region, but also by type of loans. For example, there are mortgage cooperatives “Region-Novosel”, “Nirlan-Novosel”, “Petrograd”, etc. In such CPCs, loans are issued not for personal needs/purchases, but for the purchase of housing. Special cooperatives for financing entrepreneurs “Aval”. Here, an aspiring entrepreneur can get a loan to launch a startup or develop a business. There are special agricultural credit cooperatives, for example, “Glazov Beekeeping”, “Rural Loan”, etc. Such CPCs issue loans to village residents, for example, for the purchase of equipment, farm support, etc. As for ordinary credit cooperatives, they issue consumer microloans for personal purposes.

What is a consumer credit cooperative and a mutual credit society? How to open a cooperative? Who will help a private lender register a credit union?

The modern financial market is diverse and democratic. For a thinking and enterprising person, it provides a lot of options for bringing potentially profitable and useful ideas to life.

In addition to banks, investment funds, pawnshops and microfinance organizations, non-profit organizations also have the right to accept finances from the population and dispose of them at their own discretion. credit consumer cooperatives (CPCs).

I, Denis Kuderin, will talk in detail about what these structures are and for what purposes they are created in a new publication.

If you need help liquidating a consumer cooperative, use the advice from the final section of the article.

So, let's begin!

1. What is a consumer credit cooperative and how does it work?

People who lived through the Soviet era still remember mutual aid funds. Such associations were created at workplaces for the purpose of mutual material support for participants.

People who urgently needed money - for example, newlyweds or young mothers - were given interest-free loans. The funds were formed through entrance and monthly membership fees.

Consumer credit cooperatives operate on a similar principle. True, loans are issued with interest, but investors also receive a certain income. At their core, these are non-profit organizations that attract finance from shareholders and provide loans to members of the cooperative.

Credit consumer cooperatives– voluntary unions of citizens or legal entities united on a territorial, professional or other basis in order to meet the monetary needs of the organization’s participants (shareholders).

The activities of the CPC are regulated at the federal level - in particular, by the 2009 law “On Credit Cooperation”. To create such an association, at least 15 individuals and at least 5 legal ones. The governing body of the cooperative is the meeting of shareholders.

Simply put, these are groups where people help each other with finances. The organization does not aim to make a profit. Loans are issued to those in need of money based on an agreement between the CPC and the borrower. At the same time, the company does not have the right to issue money to persons who are not members of the cooperative.

Loans are available with or without collateral. Sometimes the organization issues loans under the guarantee of individuals and legal entities; in other cases, money is given against the security of real estate, transport, and property rights.

Associations that are close in meaning and essence are credit unions, mutual credit societies, etc.

Basic rules of operation of the PDA:

• every community member has the right to count on financial assistance when he needs it;
• outsiders are not allowed to manage the organization;
• leave the cooperative or join it only of their own free will;
• all members of the association have equal rights regardless of the size of contributions;
• decisions are made on the principle of “one shareholder – one vote”;
• all members bear equal responsibility for the activities of the cooperative;
• CPCs must be registered with the relevant government agencies and be members of an SRO - a self-regulatory organization (in case of compensation for losses of shareholders in case of bankruptcy);
• The organization has a Charter, which is approved at the general meeting.

What are the benefits of forming a cooperative? Such an organization has the rights to tax benefits, guaranteed property protection, and investment activities, although limited by law.

If a participant wants to borrow money from the cash desk, the meeting will not examine his credit history under a microscope or demand certificates of income and other documents. For people who want to do entrepreneurial activity, but do not have regular income to obtain a loan from a bank, a loan from a consumer cooperative - Alternative option obtain initial capital.

At the same time, personal savings are attracted to the CPC at rates higher than bank ones by 5-10%. That is, you invest money not for free, but with the aim of making a profit. And if the money does not lie dead weight, but is invested, for example, in government bonds, then the income of each participant increases proportionally.

The main one is that “consumer cooperatives were a legacy of the Soviet period and sunk into history along with Gorbachev.” In fact, such organizations existed even in Tsarist Russia and they still live quite successfully.

There are such associations in the West as well. In the United States, the total assets of lending communities amount to hundreds of billions of dollars.

Another myth is “these are some fictitious organizations like financial pyramids.” Yes, when joining the CCP, there is a chance of running into scammers. But only if you are too lazy or don’t want to check the legitimacy of the organization.

This is done very simply - all official CPCs are controlled by the state, registered with the Tax Service and the Unified State Register of Legal Entities, and are members of the SRO.

Read the material about another voluntary association of shareholders for the purpose of preserving and increasing funds - “”.

2. What types of credit cooperatives are there - 3 main types

There are many types and subtypes of credit cooperatives - consumer, industrial, agricultural, construction, garage, country, second-level credit cooperatives, which include the cooperatives themselves.

I'll tell you about the most popular varieties.

Type 1. Consumer cooperative

This is the main type of cooperative community. The main goal of such an association is mutual assistance of participants: those who need funds receive them, and the rest contribute money at interest. The law does not prohibit these unions from receiving income legally.

To insure the savings of shareholders, SROs are organized, to which several cooperatives join at once. Within these organizations, compensation funds are created, which partly replace the banking insurance system.

How to distinguish a consumer cooperative from a financial pyramid:

• KPK is a non-profit organization with the corresponding constituent documents: any potential community member has the right to study them;
• fraudulent organizations are much more active in advertising and marketing, attracting new members, and cooperatives solve the problems of a specific group of people;
• in pyramids they promise a reward for each participant you bring;
• financial pyramids do not last long - if the organization is less than a year old, it is better to look for another credit union.

The activities of the cooperative are completely transparent and regulated by the organization’s Charter. A CPC necessarily has several funds - reserve, property, insurance.

Type 2. Agricultural credit consumer cooperative

The legal basis of agricultural cooperatives is regulated by the Law “On Agricultural Cooperation”. The priority activity of such organizations is participation in the agricultural sector of the economy.

Agricultural cooperatives specialize in the production and processing of products, supply, sales, and lending to entities in the agro-industrial sector.

Example

Several farming families banded together and formed a cooperative. Separately, farmers could not purchase transport for transporting milk and equipment for producing feed. Together they managed to successfully solve these problems. As a result, the income of each household increased.

Agricultural cooperatives closely cooperate with banking organizations, in particular with Rosselkhozbank.

Type 3. Housing and construction cooperative

Housing cooperatives are created to solve the housing problems of participants. Specific tasks, which the participants decide is the construction and improvement of residential premises. Residents - present or future - pool their funds and use them to solve pressing problems.

When joining such a cooperative, be sure to study the charter and consult with a lawyer. Often, under the guise of housing associations, scammers are hiding who want to profit from your money, or even your living space. Never sign any document without reading it from beginning to end and checking the status of the institution.

For a clearer idea of ​​the types of cooperatives, study the table:

3. How to open a consumer credit cooperative - step-by-step instructions

Do you want to open a consumer cooperative?

This matter will require time and effort. The most difficult stage is to attract a sufficient number of shareholders who will agree to pay the entry fee. And then the system comes into play. You must act strictly within the law and following a certain algorithm.

Step 1. Gather participants and hold a meeting

First, an initiative group is created, which includes people who clearly understand the goals and objectives of the organization.

They recruit new members and convene a founding assembly. To start operations, the cooperative will need at least 15 individuals or 5 legal entities. If the composition includes both, a minimum of 7 participants is needed.

Advice: It is desirable that the core group include a person who has basic financial literacy - a professional accountant or economist. People without such education will find it difficult to manage financial flows.

It is also necessary to appoint a chairman and secretary. Members of the future community formalize their decision to create a CCP in the form of an official protocol.

Step 2. Prepare documents

The main constituent document of the CPC is the Charter of the credit association. It is also necessary to find an original name for the cooperative and assign a legal address.

Example

In the Soviet feature film "Garage", a cooperative of shareholders was engaged in the joint construction of a garage complex and was called "Fauna". In some scenes, clauses of the organization's charter are announced.

It is worth pre-determining the size of the authorized capital and the amount of the initial share contribution, as well as drawing up a lending program. When preparing documents, be guided by the provisions of civil legislation that relate to credit cooperation.

Step 3. Register a cooperative

We write an application for state registration and have it certified by a notary. Then we pay the state fee and register the CPC in the Tax Service department at the place of legal address. Before this procedure, participants must enter authorized capital not less than a tenth of the initial share contribution.

The following documents are attached to the application:

• list of community activities;
• certificate of ownership of the premises in which the CPC will be located (or a lease agreement);
• passport details and TIN of the chairman ( general director) and members of the organization;
• if the founders are a legal entity, you need certificates from the Unified State Register of Legal Entities confirming their status.

A license from the Central Bank is NOT required to conduct financial transactions.

Step 4. We make a stamp and open a bank account

After you receive documents confirming the inclusion of the cooperative in the Unified State Register of Legal Entities, you need to make a stamp and open a bank account. Notify the tax authorities about opening an account.

Step 5. Register with extra-budgetary funds

You should definitely register with extra-budgetary funds: social insurance, pension, medical insurance. The basis for calculating taxes for these funds is the wages of the cooperative's employees.

Step 6. Organize a control system

Control and accounting are the basis of competent financial management. In addition to internal control, the KPK is responsible for financial affairs federal Service By financial markets. There you need to send a copy of the organization’s Charter and contact information for the chairman of the cooperative.

Step 7. Join the SRO of consumer cooperatives

Another legal requirement. You must join an SRO within 3 months after the creation of the cooperative. Only after this the organization has the right to accept new participants into its ranks and attract their finances.

When opening a cooperative and at all stages of its registration, it is advisable to consult with professional lawyers. The easiest way to do this is remotely - in a company specializing in online consultations.

Thousands of professional lawyers, including experts, collaborate with this resource civil law. There is free services and paid. In the first case, a simple answer is given to asked question, in the second - a detailed written consultation with an algorithm of actions.

4. Professional assistance in registering a credit union - review of the TOP-3 legal companies

From previous section You understand that creating a PDA is a responsible and difficult procedure if you do it yourself.

However, there are professional companies that will help, support, advise on the best way, or simply do all the work of registering a cooperative for you. We present an overview of the top three reliable companies such a profile.

The company's slogan is “Unsolvable issues are canceled.” Specialization – registration and liquidation of legal entities and non-profit organizations, as well as legal and accounting services to individuals and firms.

"Center" registers new organizations economically and on a turnkey basis. The client is required only to provide statutory documents; all other stages, including opening a bank account and interaction with the tax service, will be undertaken by professionals. Another advantage of the company is low tariffs.

2) Express Registrar

The name of the company speaks for itself - “Express Registrar” works quickly and strictly within the framework of the law. The year the company was founded is 1999. It is the leader of the Russian market legal services by the number of registration procedures since its foundation. The company has 4,000 regular customers, 10 offices and 50 experienced full-time employees.

Advantages - payment only upon delivery (no hidden fees), remote interaction with the client via Internet communications (Skype, icq, mail agent). The customer appears at the company only once when he brings documents for registration.

Moscow city registration service for business and non-profit organizations. Operates with the support of Alfa-Bank. Registration within 3 days is guaranteed, but there are faster options. Each client receives a gift in the form of opening and servicing a current account. The company also provides customers with accessible legal addresses in all inspections of the Moscow Federal Tax Service.

5. How to liquidate a mutual credit company - 3 practical tips

It happens that a cooperative created with good intentions does not fulfill its obligations and its existence loses its meaning.

In this case, it is necessary to legally close the organization. Simply dismissing people at a general meeting will not work. The provisions of the civil code must be followed.

The process algorithm is as follows:

1. We draw up minutes of the meeting at which liquidation was announced.
2. We inform the tax office about the termination of the activities of the CCP.
3. We appoint a liquidation commission.
4. We publish an announcement in the media about the cessation of work.
5. We pay shareholders the money they are entitled to.
6. If there is not enough capital to pay off debts, we will sell the property of the cooperative.

Some useful tips, which will simplify the closing procedure.

Consumer credit cooperatives (CCCs) in Russia are not as well known as, for example, (MFOs). Not many people became participants. The new name (but the long history of such organizations!), traditional suspicion towards any non-bank organization that attracts deposits, make it difficult to discern interesting opportunities and benefits in such cooperatives.

Credit consumer cooperatives - what are they?

A consumer credit cooperative (CPC) is a non-profit organization whose purpose is to provide savings services (accepting deposits) and services for issuing loans to its participants (shareholders) at interest. The CPC is a voluntary association of citizens created to organize mutual financial assistance services for each other.

Scheme of work:

• Participants (shareholders) pay the entry fee according to their shares. The charter may provide for other membership fees: annual, quarterly, monthly, additional.
• The capital of the cooperative is formed, which consists of three funds: a reserve fund to cover unforeseen expenses, a share fund to pay for current needs, and a mutual financial assistance fund to directly provide loans.
• KPC attracts the savings of its members by opening deposits.
• The cooperative spends its own and borrowed capital on current expenses and on issuing loans to shareholders.

Basic rules of credit cooperatives

The basic rules of credit cooperatives are determined by current legislation:

• Activities are regulated by law, in particular - Federal law dated July 18, 2009 No. 190-FZ “On Credit Cooperation”.
• CPC is a voluntary association of participants: individuals (minimum 15) and legal entities (minimum 5).
• A cooperative is a non-profit organization, therefore it cannot engage in production, trade or provide any services other than attracting deposits and issuing loans.
• Loans can be issued only to shareholders, but savings can be accepted from a CPC participant or from a third-party organization (legal entity).
• A cooperative is created on any basis: territorial, professional, sectoral and others.
• The cooperative is governed by a meeting of founders (shareholders).
• Information about existing CPCs is available on the website of the Central Bank of Russia, which also acts as the main regulator and controller of the financial activities of cooperatives.
• CPCs must be members of a self-regulatory organization (SRO), where funds are created to compensate for losses of shareholders and investors in the event of bankruptcy of the organization.
• The cooperative does not guarantee the loan of its shareholder, does not fulfill his personal obligations, and does not repay his third-party loans.
• Both deposit and loan rates are higher than bank rates, on average, by 5-15%.

Benefits of CCP membership

• If you are a member of a cooperative and regularly replenish its funds with membership fees, you are guaranteed to receive a loan for your needs. The CCP will not delve into your credit history, study you under a microscope and force you to collect documents about work and income, or attract guarantors. The only limitation is that you will not be given more than 20% of the total amount of loans provided to all other members during the reporting period.
• The cooperative will give you the opportunity to deposit at a higher rate than the bank. Despite participation in an SRO, cooperative deposits are not insured by the state; it is possible to insure risks in insurance companies.
• As a participant, you can manage the activities of your cooperative, be aware of its financial viability, and influence decisions made.
• Shareholders have the opportunity to invest in own business(with the consent of the general meeting) and receive additional profit

Beware, scammers!

How to distinguish a real credit consumer cooperative from a financial pyramid or from ordinary deceivers who want to extract money from you?

Rule 1. The organization must contain in its name the abbreviation “CPC” or “Credit Consumer Cooperative”. All other forms - LLC, OJSC, CJSC, individual entrepreneur - have nothing to do with the consumer cooperative. Therefore, when you see the name “Consumer Credit Cooperative LLC,” you know that these are scammers. And the name is intended to mislead inexperienced investors.

Rule 2. Go to the Bank of Russia website and find your cooperative there. Check the data on the CPC page and on the Central Bank website. Name, INN, OGRN must match. To be on the safe side, go to the SRO (self-regulatory organization) website and find your cooperative there.

Rule 3: This CPC will not offer you any rewards or benefits for recruiting new investors.

Rule 4. Pay attention to interest on deposits: they are higher than bank interest rates, but not several times higher. “50% per annum” in advertising is an obvious deception, don’t fall for it. Flashy advertising should not be a reason to join this particular cooperative.

Rule 5. Study the documents before you sign them and deposit your money. They don’t let you read the contract, or the terms are not clearly stated there, they put pressure on you, they rush you? Better leave and look for a new partner.

A consumer credit cooperative is an excellent alternative to banking services. But to successfully participate, place funds and obtain loans, you need to have a good understanding of how they work and accurately calculate your own benefits. Remember that the cooperative works for your profit, and not the other way around.