The Aspire Savings, Credit and Multiple Services Cooperative (COOP-ASPIRE), has been proclaimed as the capital city brand cooperative, where it was born about nine years ago and from where its main operations center is located, in the heart of the exclusive sector of PiantiniIn Santo Domingo.
With a wide incidence in the National District and greater Santo Domingo, the institution has coverage throughout the metropolitan area and the rest of the province, with some fourteen offices and service points strategically located in Piantini, Villa Consuelo, Padre Castellanos, Herrera , Pedro Brand, Guaricanos, Sabana Perdida, Los Mina, Las Américas, Boca Chica and other locations have up to 2 branches such as Alcarrizos and Villa Mella, respectively. In this territory alone, COOP-ASPIRE concentrates 90,000 of its more than 182,000 associates throughout the national geography, which makes it the cooperative of Santo Domingo.
Also see: Aspire Cooperative 8 years of extraordinary achievements.
As part of the celebration of his IX Annual Ordinary General AssemblyMr. Eduardo Rosario, general manager of the company, pointed out that the indicators place COOP-ASPIRE among the cooperatives with the largest number of current members.
“In the last year we have experienced growth in terms of our associates, which keeps us as one of the three cooperatives with the highest number of current members in the countryclosing the year 2021 with the number of 182,961 members, which represents a growth of 7.22% compared to the year 2020, made up of 61% women (112,338), and 39% men (70,623), distributed in the entire national geography,” he indicated.
He said that these 182 thousand partners distributed in 27 branches nationwide They have opened some 187,832 savings accounts with balances of more than RD$1,228 million and with investments of more than RD$1,226 million.
He stated that at the end of 2021, COOP-ASPIRE had granted a total of 37,566 loans to its members. For more than RD$2,075 million, for an increase of 39.88% compared to the year 2020.
“The balance of our loan portfolio experienced a significant growth of 14.61%(more than RD$300 MM compared to 2020) closing on RD$2,451 Million at the end of 2021, with a Risk level greater than 30 days of 10.5%, a reduction of 3.3% equivalent to $36.7 Million compared to 2020”, he explained when rendering his management report before the assembly.
He also pointed out that the results obtained in 2021 have allowed a great strength in the market “we have achieved a Risk rating in the system of the Association of Rural Savings and Credit Institutions (AIRAC), of 81, becoming one of the 5 best qualified cooperatives in the union that groups the 17 main cooperatives in the country” he said.
This rating of AIRAC gives a “B” as a risk rating, it is a privileged rating considering that COOP-ASPIRE competes at this level with cooperatives with more than 50 years in the market.
