The cooperative savings and loan society (socap) Caja Popular Mexicana reported that as part of the support program for the payment of credits in the context of the health emergency due to the Covid-19 pandemic, which was in force from October 1, 2020 to March 31, more than 55,000 members adhered to this scheme.
According to the socap, the partners who had complications to catch up with the ordinary interests accumulated from their credits were assisted by this entity to customize payment alternatives.
“This initiative was part of a comprehensive program that was in force from October 1, 2020 to March 31, 2021 and was thought of the partners affected by the Covid-19 pandemic, which included support for the waiting period. , and contingent credit, “reported the socap it’s a statement.
Also, the socap indicated that it is in the design of a new program for its members, in order to help those who continue with both financial and health complications.
In April 2020, the cooperative implemented a scheme to give an extension of up to six months in the payment to the capital of the members’ credits. “From April to July 2020, the period in which said program was in force, 303,469 credits were registered, of which, at the end of March 2021, 71,930 credits were settled.”
The entity added that there are currently about 231,539 loans outstanding within the portfolio of the waiting period program, of which 170,712 are current, 34,317 are in arrears and 26,500 are in past due portfolio.
In addition, the entity pointed out that, in the context of the emergency, it launched a contingent loan of up to 96,000 pesos, in order to reactivate the economy of its affected partners, to whom it offered payment terms of up to 60 months and an extension of four months to the payment of the capital.
“Around 7,000 partners requested the contingent credit, which was in force from May to September 2020. Among the purposes of using the contingent credit, they highlighted the payment of productive activities, medical expenses and school expenses,” he said.