Credit unions offer financial services such as current accounts, credit cards, loans and financing. They are formed on the basis of associative principles and operate on a non-profit basis, under the supervision of the Central Bank. To access the services of a credit union, you have to join by making a financial contribution to the institution's share capital. In return, the member can enjoy the services offered by the cooperative and participate in decisions by voting, as well as having a share in the financial results.
According to the Panorama of the National Cooperative Credit System, the number of cooperative members in the country will grow by 10.6% in 2024, reaching 16.2 million individuals and 3 million legal entities. The rate of growth was significant, although it was slightly lower than the previous year (11.4%).
The growth in the member base was accompanied by accelerated growth in the loan portfolio. In 2024, the credit cooperatives' loan and financing portfolio grew by 16.2% in the individual segment (PF), with emphasis on credit operations without consignment, which grew by 26.7%. For comparison, in the National Financial System (SFN), the growth in the credit portfolio for individuals was 12.6% in 2024.
In the segment of legal entities, the advance of the cooperatives' credit portfolio was even greater, reaching 22.4% in 2024. Here, it is worth highlighting the growing participation of credit cooperatives in the portfolio of loans and financing granted to micro and small companies. Of the total funds granted to micro and small businesses, 18.8% came from the SNCC. In 2020, this percentage was 12.7%.
When analyzing the regional data, there are significant differences between the country's regions. The South has the largest share of cooperative credit in relation to the region's total credit, with 18.3%. In the country as a whole, cooperative credit represents 8.3% of the credit portfolio.
The Panorama data also shows that the physical presence of credit unions has grown in all regions, reaching 3,229 municipalities. What's more, the number of municipalities where cooperatives are the only face-to-face option for obtaining financial services rose from 368 in 2023 to 469 in 2024. Although there is a growing digital trend, the diverse reality of the country still reserves - and will reserve for some time - an important role for physical branches.
In the mapping of credit risk, over the last few years, the percentage of problem assets in SNCC's personal portfolio has been close to that observed in other institutions; in the corporate segment, this percentage has stopped growing in recent months, but remains at a high level. This data deserves attention, especially in view of the more challenging situation in 2025.
Throughout this year, the basic interest rate has reached 15% per year, which raises the cost of funding for financial institutions and affects their appetite to offer credit. In addition, as the data from credit bureaus shows, delinquency continues to rise, as do debt indicators. In short, the current situation is yet another test of resilience for cooperative credit and reinforces the importance of careful credit analysis, so that the growth of this segment of credit continues to occur in a sustainable manner.
Credit unions are a global phenomenon. Data from the World Council of Credit Union show that, by 2023, these institutions would be present in at least 104 countries on all continents and would have 411 million members - up from 403.9 million in 2022. In modern economies, the financial system exists to bring savers and borrowers together. Credit unions are yet another model of intermediation. Their regional and sectoral operations make them a vector of competition and democratization of access to credit.
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