Sicoob Divicred
Financial ServicesMinas Gerais, Brazil201-500 Employees
Sicoob Divicred is a member-owned financial services cooperative founded on May 8, 1997, in Divinópolis, Minas Gerais. It originated when a group of 20 local entrepreneurs sought to develop the Divinópolis clothing sector, beginning with a small staff that numbered eight and later reduced to six due to payroll concerns. The cooperative expanded its footprint beyond its city of origin, opening spaces in Belo Horizonte and becoming the first interior Minas Gerais cooperative to have a presence in the state capital. The expansion continued beyond Minas Gerais, with new facilities established in São Paulo. Today, Sicoob Divicred operates 32 facilities across municipalities in Minas Gerais and São Paulo, and uses a cooperative model in which associates own the business and any surplus is distributed annually.
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