What is a consumer credit cooperative and why is it needed
His Work Educational Program / / January 06, 2021
What is the meaning of a credit consumer cooperative
This is a voluntary unionFederal Law of 18.07.2009 No. 190-FZ citizens and / or legal entities, which is created to meet the financial needs of its members. It can be formed according to a territorial, professional or other principle. For example, to be a union of steel workers or Murmansk residents.
To simplify, a consumer credit cooperative (CCP) is a kind of mutual assistance fund: everyone is thrown into a common pot. Those who need money take a little from it and then return it. In fact (and by law), of course, everything is more complicated.
How a consumer credit cooperative works
The KPC capital is formed from membership fees. They are of several types:
- Introductory. Their meaning is clear from the name: they are entered upon entry.
- Membership. Paid periodically in accordance with the charter: once a month, quarterly, annually.
- Share. These contributions are mandatory in a fixed (usually small) amount and voluntary - at the discretion of the shareholder.
The first two are usually small amounts and are mainly spent on administrative expenses. In business, that is, for issuance credits, there are shares. Moreover, most of the capital is formed by voluntary investments, which are given to the cooperative at interest. The KPC can also attract money from credit organizations and legal entities, if they have such an opportunity in the charter.
In order to form a percentage for depositors, the KPC issues loans at interest too. Cooperatives can lend exclusivelyFederal Law of 18.07.2009 No. 190-FZ its members. In this case, the refund can be provided by a surety or pledge, including real estate.
Cooperatives can also invest shareholders' money, but with restrictions. They are allowedBank of Russia Ordinance dated September 24, 2015 No. No. 3805-U invest in government securities, keep on bank deposits or lend to second-tier cooperatives (these are associations whose members are only the CPC).
A consumer credit cooperative is a non-profit organization, the reason for its existence is not in making a profit, but in supporting its shareholders. Therefore, the CCP has no right, for example, to trade or create industries. But in general, he is not prohibited from engaging in other types of activities, except for mutual financial assistance, if they are enshrined in the charter.
What you need to know about a consumer credit cooperative
What's with the money
Interest in a PDA is usually higher than in a bank - for both loans and deposits. The promised return on the latter is limited by law and cannot exceed the key rate multiplied by 1.8Basic standard for a credit consumer cooperative to carry out transactions in the financial market (now it is 7.65%). But for a loan secured by property, the limit is 17%The Bank of Russia Board of Directors made a decision to determine the maximum interest rate on loans provided by credit consumer cooperatives. Therefore, it is more profitable to deposit money in a cooperative than to borrow money - taking into account the risks, but more on that later.
Take on credit not anyBank of Russia Ordinance dated December 28, 2015 No. No. 3916-U "On the numerical values and the procedure for calculating the financial standards of credit consumer cooperatives" amount. The maximum is:
- 50% of the volume of loans issued, if the shareholders are up to 100 people, and the KPC has existed for less than six months;
- 20% if there are less than 200 shareholders;
- 10%, if the shareholders are from 200 to 3,000;
- 7%, if the shareholders are from 3,000.
There are also restrictions on the amount of money that can be contributed by one shareholder. Upper limit:
- 50% of the collected amount, if the shareholders are up to 100 people, and the PDA has existed for less than six months;
- 25% if there are less than 200 shareholders;
- 20%, if the shareholders are from 200 to 3,000;
- 15%, if the shareholders are from 3,000.
What's up with management
The point of a consumer credit cooperative is that all members are equal. Their votes are equal regardless of the amount of the deposited amount. All important decisions are made by the general meeting of shareholders, where one person is one vote. Accordingly, the members of the cooperative can always be aware of what is happening in it - ideally, of course. They decide where to send the annual profit KPC, if any: divided between shareholders or used to increase capital.
Between general meetings, the cooperative is in the hands of the board, which is elected from among the shareholders for a term of no more than five years. It accepts and excludes members, prepares general fees and so on.
What's with the risks
This is a logical question when it comes to money: will it not be so that one day they all simply disappear and the shareholders will be left with nothing. To prevent this from happening in law there are several levels of protection.
First, the Central Bank oversees the activities of credit consumer cooperatives. He keeps a registerRegistries The CPC, which now includes nearly 1.4 thousand active organizations. There is also a list of cooperatives in the process of reorganization or liquidation, as well as no longer existing. If the Central Bank notices that the CCP is violating the law, it can intervene.
Secondly, every cooperative must be a member of a self-regulatory organization. Their register is also kept by the Central Bank. At least 0.2% of the average annual value of assets is allocated there. If the KPC goes bankrupt, the shareholders can receive compensation. At the same time, contributions are not insured by a deposit insurance agency, as is done with bank deposits.
Third, the cooperative itself must have airbag - the percentage of capital that should always remain in the accounts. Its size dependsBank of Russia Ordinance dated December 28, 2015 No. No. 3916-U "On the numerical values and the procedure for calculating the financial standards of credit consumer cooperatives" from the number of shareholders:
- 2% for a CPC that has existed for less than six months and with less than 100 members;
- 4% - if the shareholders are less than 200;
- 5% - if there are more than 200 shareholders.
But, alas, all this does not guarantee that the money is safe and will return to the members of the cooperative in one hundred percent. And the main risk is to run into financial pyramiddisguised as a PDA. Therefore, it is important at least to check that the cooperative is in the register of the Central Bank and is a part of a self-regulatory organization. The dizzyingly high profitability should be alarming - it simply has nowhere to come from in a legally operating PDA. Another warning sign is too aggressive advertising.
The Central Bank asksThe regulator warns: do not confuse the PDA with the consumer society also do not confuse consumer credit cooperatives with consumer societies. The latter largely overlap with the CCP, only mutual financial assistance is not their main activity. They can issue loans, but no more than four times a year.
And one more thing: the shareholders are jointly responsible for the activities of the cooperative. So if it goes into negative territory, additional contributions will have to be made to correct the situation.
What's with the possibilities
Each member of the cooperative has the right to receive financial assistance when he needs it. This is the meaning of unification. At the same time, no one is accepted as shareholders - at least if the PDA is normal. The decision on each member is made either by the board, if provided for by the charter, or by all shareholders together.
Accordingly, if a member of the cooperative wants to take out a loan, it is quite easy for him to do so. Unlike a bank, a PDA will not scrutinize credit history, require a huge amount of information. However, cooperatives mustFederal Law of 18.07.2009 No. 190-FZ transfer loan data to at least one credit bureau. So this can affect future relationships with the bank.
For those who invest money, the profitability is higher than on a deposit in a bank. So are the risks.
How to join a consumer credit cooperative
Individuals over 16 can become a CPC memberFederal Law of 18.07.2009 No. 190-FZ years or a legal entity. You need to find a cooperative and write an application for admission to its members. If the candidacy is approved, an entry will be made in the register of shareholders. And the newly minted CPC member will be given a document confirming this.
The procedure itself is very simple, but it is important not to run into scammers. What to look for is written in the part of the text on risks.
How to open a credit consumer cooperative
1. Find potential members
To create a PDA, you needFederal Law of 18.07.2009 No. 190-FZ at least 15 citizens or at least five legal entities. If both are members, then in total there should be from seven.
2. Come up with a name
Keep in mind: if there is a legal entity among the members, the name cannot indicate “citizen's cooperative”.
3. Write charter
The document must contain all the working conditions of the PDA. Which ones - look in article 8Federal Law of 18.07.2009 No. 190-FZ the law on credit cooperation. The charter is the main document of the organization, so it is best to prepare it with a lawyer.
4. Conduct a constituent assembly
The founders must, by protocol, draw up a decision on the creation of a credit cooperative, the approval of the charter and other documents, the formation of the organs of the CCP.
5. Collect the first part of the contributions from the shareholders
Before registration, members of the CPC must transfer to its fund at least 10% of the initial share contribution.
6. Pay the state fee
Its size is 4,000 rubles. It is better to check the details at the FTS branch where you are going to register the PDA. It must correspond to the legal address of the organization.
7. Contact the Federal Tax Service
You must bring the following documents to the tax office:
- application for state registration in the form No. Р11001;
- charter;
- minutes of the constituent assembly;
- a receipt for payment of the state duty.
You can do this in person, through the MFC, postal by sending or through a notary. The decision to register with the Federal Tax Service must be made within three days.
8. Join a self-regulatory organization
This is a prerequisite, so take care of it.
How to liquidate a credit cooperative
The CCP's activities may be terminatedFederal Law of 18.07.2009 No. 190-FZ compulsory by court decision or voluntarily by decision of the general meeting of shareholders. The cooperative is obliged to withdraw itself if within six months it has fewer members than is required by law.
When the decision to liquidate is made, the CCP ceases to operate and cannot accept money or issue loans. Then a liquidation commission is appointed (in case of voluntary closure, this is done by the founders). Her responsibilities include the assessment of the property of the cooperative and settlements with creditors.
Remaining after that money divided between shareholders in proportion to their investments. And an entry is made in the Unified State Register of Legal Entities that the organization no longer exists.
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