Cooperativa de Ahorro Y Credito Microempresarial Sucre. The short name is Co-op. This is the local cooperativa where we have an account. San Clemente and San Jacinto have no banks, I was told that there is a Barrio Bank of Guayaquil but I have never seen the business open that has the Barrio Bank so having the Co-op so close is very nice for us.
The bank is located on the main road into the town of San Jacinto. They have an ATM and are open 7 days a week, talk about convenient. Currently this coop is not national and there are four locations the one here in Jacinto and one in Cherapoto, Portoviejo and Rocafuerte. To open an account all you need is your passport once the bank goes national you will be required to have a cedula to open accounts. Their CD rates are unbelievable from $600 to $1,000 a one year CD yields 7%, 1,100 to 5,000 is 8%, from $5,100 to $25k is 9% with anything over $26k at 10%. They do have 3 month as well as 6 month CD’s at lower rates.
Sonia has been wonderful to work with. While opening our account they will open Google Translate and have you type your questions/answers.
NOTE: Some banks and cooperativas in Ecuador are insured by COSEDE (www.cosede.gob.ec) please check to see if you cooperativa or bank are on this list.