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December 26, 2022
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Housing will reduce interest rate for cooperative members who pay on date

Housing will reduce interest rate for cooperative members who pay on date

From March the interest on the fee paid by the cooperatives will drop for those who meet their payment obligation on time. There will be a decrease from 5%, 16% to 2% for good payers, according to what the Minister of Housing, Irene Moreira, said last Friday on the occasion of the second draw of the year for the construction of works for cooperatives.

About the ad, Moreira clarified that the good payer rate already existed but that now the interest charged is reduced as various housing cooperative organizations have claimed for years. Regarding the start-up, he said that in 2023 a commission formed to analyze this issue will carry out a cooperative survey by cooperative, and cooperative members with up to three installments to pay will be considered.

After learning about the measure, the Uruguayan Federation of Housing Cooperatives for Mutual Aid (Fucvam), the Federation of Housing Cooperatives (Fecovi) and the Federation of Homeowners Cooperatives (Covipro) They expressed their satisfaction through official accounts.

“2% came out for cooperatives! The fight pays!”published the official account of Fucvam.

Later, he published fragments of the conference that the union gave on the occasion of the decrease in the interest on the quota paid by the cooperatives. The president of Fucvam, Enrique Cal, stated: “What the cooperatives propose is fair.”

In addition, in an interview with MVD Noticias, Cal maintained that The announcement made by the minister “does nothing more than ratify the fairness of this claim that Fucvam has been raising since 2018.”

Furthermore, he said that “The compañeros and compañeras in the cooperatives have been permanently reporting the need to bring this interest rate, which was completely abusive, to 2% —which is what the law of 1968 establishes— making the fee that is paid monthly much more in tune with what the workers earn”. And he recalled that cooperative members pay in UR, and not in pesos.

For its part, Fecovi published a statement stating: “This confirmation does nothing other than recognize the fairness of the claim, for which thousands of cooperative members, through their federations, have been fighting for more than a decade.”

By last, Covipro recalled that “in recent years this claim was part of a common platform of all the cooperative Federations for considering it a matter of equity and justice, matching the system at the historical interest rate.”



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