The National Association of Popular Banks has defined a collaboration agreement with the two main realities of Brazilian banking cooperation: Sicredi and Bancoob. These are the main organizations of the Brazilian credit cooperation system which govern the specific companies operating in the distribution of insurance products, credit cards and consortium services.
Sicredi is the Cooperative Credit System that confederates 121 credit cooperatives with a network of 1.500 branches present in 21 states of Brazil and represents over 3,3 million members. The central institution Bancoob represents the other large cooperative financial system (Sicoob) which includes 3,4 million members, about 500 credit cooperatives and 2.500 branches.
According to the general secretary of Assopopolari, Giuseppe De Lucia Lumeno, the agreement "testifies to the international interest in cooperative banks in Italy".
Again according to De Lucia Lumeno, it is "an element of satisfaction that confirms the traditional international vocation of the entire world of banking cooperation and relaunches the centrality of the function of support to the real economy that popular credit performs through support for local communities , SMEs and families”. The category is present in the area with 8.000 branches and represents 1,3 million members and 12 million customers.
