The Board of Directors of the Instituto de Desarrollo y Crédito Cooperativo (Idecoop) decided through Resolution No. 015-2023 to intervene in the Cooperativa de Ahorros y Crédito Herrera (Coopherrera), for “detecting irregularities in administrative, financial and governance issues during the special supervision process carried out in May 2023”.
Through this measure, IDECOOP seeks to safeguard the savings and investments of the associates, the assets of the cooperative and the assets or commitments with third parties.
“It is opportune to clarify that the cooperative continues its operations, and responding to the demands required by the partners according to availability, due to the liquidity situation it is going through. In the same way, we urge the associates to continue honoring their commitments with it”, read part of a statement from the council.
They also announced that, for the time being, the cooperative cannot respond to investments in large volume financial certificates.
“From now on, more information will be offered to guide members on the process that is being carried out, in accordance with current regulations,” the aforementioned document continues.