Bancoob - Banco Cooperativo do Brasil S.A.
Sede: SIG - Quadra 06 - Lote 2080
Brasília-DF
www.bancoob.com.br
Get to know the associated Banks in Argentina.
Get to know the associated Banks in Uruguay.
By the end of the 70s, after overcoming the militar dictatorship and changing an Act that hindered Credit Cooperatives from working in the provision of bank services in Argentina, small Cooperatives gathered locally and constituted new democratic associations, stronger and more solid.
That is how more than twenty Cooperative Banks came forth from IMFC – Instituto Movilizador de Fondos Cooperativos, a kind of National Alliance of Credit Cooperatives.
Almost simultaneously to this process, the first international Credit Cards arrived in the region, by means of large local financial groups.
The Credit Card was already viewed as a strategic tool, which would be essential for providing financial services to people and commerce. The Cooperative Banks decided for the creation of a Brand of their own, and assigned such challenge to IMFC. Thus, in 1980 the Cabal Credit Card was born.
There were many difficulties, there was no previous record of a Cooperative Credit Card in the world.
With a very competitive market already, the international brands of credit cards had the support of large trade banks, also counting on resources for development and marketing which far exceeded the resources available from the cooperative movement.
Released from the cooperative movement, but performing as a brand open to the style of the large brands, Cabal Card expanded its presence over great part of the Argentine financial system.
In this way, Cabal Card was able to accomplish the great mission: to be a tool allowing for cooperative entities to compete with the large commercial banks, by strategic independency, keeping loyal to its own nature and vision about economic instruments at service of people.
The tight bonds of affinity and solidarity between cooperative movements of credit from different countries in the region and the growing demands of globalization have helped to find coincidences and mutual supporting points.
So the Cabal brand got to Uruguay, Paraguay and Brazil. Nowadays, the Cabal System projects as a solid and diversified system of payment, and more than seventy banks and entities of all types are integrated to Cabal.
The performance of Cabal Card in Brazil ensures the definite insertion throughout the Mercorsur. Also, it represents a huge step for more integration of the whole cooperative credit system in Latin America.
In Brazil, as well as in other countries where it performs, Cabal Brand is totally accessible to local issuers.
Cabal Brasil regulates the functioning of Cabal Brand in Brazil and manages the association of new Brazilian issuers, whether they are financial institutions or not, by means of adhesion to the Payment Forms Cabal System, and it also makes available the whole infrastructure necessary to processing and operational support, which is essential for the operation’s success.
To the issuer there is credit analysis, granting of limits, operation funding, credit risk, collecting from default payers, among others.
All revenues from the Card, as interests, penalties, tariffs, insurance fees and such other types of benefits offered to clients are in charge of the Issuer, which holds the property of the card.
In order to enter the Payment Forms Cabal System it is not necessary for the Issuer to purchase shares/stocks from Cabal.
For further information, contact us.
