In the second quarter of 2016 three entities accounted for 63% of the assets of the cooperative system, which accounts for 10% of the Costa Rican financial system.
From a report by Fitch Ratings:
Cooperatives in Costa Rica: Defaults and Pressured Profitability
Concentration of Business Model: The cooperatives rated by Fitch Ratings (Coopenae, Coopeservidores and Coopeande 1) are the three largest in Costa Rica and account for 63.3% of the assets of the cooperative system, a sector that still has a low participation in the national financial system(10.6%). These entities have a business model focused on consumer finance for its members, which makes them dependent on the behavior of a single segment.
For the volume of assets and loan portfolios they manage, cooperatives together make up the fourth largest financial operator ivn the country.
In Costa Rica, the 30 cooperatives under the supervision of the Superintendent of Financial Institutions (Sugef) exceed in value the assets and loan portfolio of the "private bank BAC San José and are below the banks, Banco Nacional, Banco de Costa Rica and Banco Popular which are funded by public capital. "
Costa Rican credit unions pay up to 4.25% more than banks on term deposits in local currency.
After two years of low rates, return on certificates of term deposits (CDP in Spanish) is rising and the best deals are with savings and credit unions (CAC in Spanish), which exceed those of the banks by 4.25 percentage points.
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