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FAQ´s

  • The payment of Insurance for your Savings is made when a financial cooperative registered in FOGACOOP is the object of liquidation by the supervising body of the registered cooperative: either the Superintendence of Solidarity Economy or the Superintendence of Finance of Colombia, according to the type of financial cooperative.

    Once the acceptance of claims has been issued, following the board settlement ordering the liquidation of the registered financial cooperative, FOGACOOP will use various means to announce such an event, via the website and other means considered relevant, and will determine the amount of Insurance for your Savings that each depositor is entitled to, according to the information contained in the database of the audited financial cooperative, starting on the day when the liquidation process begins.

    The saver will then need to file a claim for the corresponding payment of Insurance for your Savings by submitting the required documentation. The Fund will proceed to review the saver's information in the database provided by the financial cooperative institution's liquidator and will verify that the required documentation is provided. If everything is in order, FOGACOOP will proceed to schedule the payment within the established terms provided.


  • To make Insurance for your Savings known as a protection mechanism of the saver's trust in the financial cooperative sector, the Fund implements various initiatives via its main target groups, primarily through the participants, members and savers of  financial cooperatives and their employees, particularly those who work in the customer service department of financial cooperatives; in other words, those who have direct contact with the public (generally those in charge of customer service, cashiers, etc.).

    For this purpose, advertising strategies have been implemented in mass media formats, primarily through radio and digital strategies. The radio strategy has focused on reaching individuals through local and municipal radio stations throughout the Colombian territory, as well as through some radio stations with regional coverage. The digital strategy has advertised on virtual platforms, social networks such as Facebook, in Page Post Ad Format; through Google's "Search" browser; and through other platforms and scheduled ad purchases, among others.

    Additionally, internal communication methods have also been used by financial cooperatives, as well as newspaper media, particularly by those in the solidarity sector. Likewise, by participating in events and fairs promoted by various organizations, sector associations and registered financial cooperative institutions, which spreads knowledge about Insurance for your Savings  and is transmitted through various activities and virtual contests of knowledge.


  • ​185 cooperatives financial institutions are currently registered in the Fund, 180 of which are savings and credit financial cooperatives surveyed by the Superintendence of Solidarity Economy, and five institutions are financial cooperatives, supervised by the Superintendence of Finance of Colombia. See the directory and map of financial cooperatives in which all financial cooperatives registered in FOGACOOP are geographically displayed.

  • ​You can search the directory and map of the financial cooperatives registered on www.fogacoop.gov.co, by clicking on the "For Savers" section.

  • All financial cooperatives for savings and credit, multi-asset or comprehensive financial cooperatives (that have a savings and credit division) authorized to perform financial activities are required to register in FOGACOOP.

    Regarding savings and credit, it is important that the individual is aware that the financial cooperative is authorized to collect savings by the relevant Superintendence and if it is registered in FOGACOOP.


  • In order to know if the savings are covered by Insurance for your Savings, you can search in the registered financial cooperative directory to verify that the financial cooperative in which the financial resources are deposited is registered in FOGACOOP and, therefore, is covered by the Insurance for your Savings.

    Additionally, financial cooperatives registered in FOGACOOP, and therefore subject to FOGACOOP deposit insurance, are obliged to provide the seal of Insurance for your Savings, which must appear in their advertising material regarding savings services, both in virtual and printed media.


  • ​If the saver has saved his/her money in a financial cooperative registered in FOGACOOP, the Insurance for your Savings can be used in the event of an audit of the financial cooperative during its liquidation, performed by the surveilling institution.

  • ​The Insurance for your Savings has no cost for the savers of financial cooperatives registered in FOGACOOP. However, the resources that constitute the reserve managed by the Fund come from an additional payment made by the registered financial cooperatives, corresponding to 0.5% of the total insured deposits.

  • ​Savers of the financial cooperative registered in FOGACOOP do not have to follow any procedure to have the Insurance for your Savings.  This is AUTOMATICALLY performed since it is a deposit. It's that easy!

  • ​No. Insurance for your Savings has no deductibles whatsoever. This implies that, in the event of a payment from Insurance for your Savings resulting from the liquidation of a registered financial cooperative, when the financial resources deposited do not exceed the maximum amount insured by FOGACOOP, the saver will be paid 100% of these resources, without applying any deductibles.

  • ​Social contributions are not covered by FOGACOOP's Insurance for your Savings since these contributions are part of the financial cooperative's assets and constitute venture capital.

  • For savings and credit cooperatives , multi-asset or comprehensive cooperatives with savings and credit services, surveyed by the Superintendence of Solidarity Economy, the maximum insured amount is 12 million pesos COP legal currency per person.

    For cooperative surveyed by the Superintendence of Finance of Colombia, the maximum insured amount is 20 million pesos COP legal currency per person.


  • FOGACOOP guarantees the following deposits by savers at savings and credit cooperatives, multi-asset or comprehensive financial cooperatives (that have a savings and credit division)  surveyed by the Superintendence of Solidarity Economy:

    • Savings Deposits

    • Certificates of Savings Deposits

    • Deposits of Contractual Savings

    • Deposits of Continuous Savings

    FOGACOOP guarantees the following deposits by savers of the financial cooperatives supervised by the Superintendence of Finance of Colombia:

    • Basic Deposits

    • Certificates of Deposits

    • Savings Deposits


    • Real Value Units Savings Accounts

    • Specialty Saving Accounts

    • Savings Certificates of Real Value Units

    • Special Deposits

    • Bank Collection Services

    * FOGACOOP's Insurance for your Savings does not cover social contributions as these are part of the cooperative's assets and they are considered venture capital.


  • The main benefit of FOGACOOP's Insurance for your Savings  is that savers of registered financial cooperatives  can have confidence that the financial resources* saved - a cap amount - will not be lost  in the event that any of these registered financial cooperatives in the Fund are liquidated.

    * FOGACOOP's Insurance for your Savings does not cover social contributions as these are part of the cooperative's assets and they are considered venture capital.


  • Insurance for your Savings is a mechanism guarantying that the money saved by savers in a financial cooperative registered in FOGACOOP- a cap amount -  is insured. The saved funds can be accessed quickly and securely in the event that the financial cooperative institution has to be liquidated.

    Through FOGACOOP's Insurance for your Savings, depositors and savers of financial cooperatives registered in the Fund can save their money with confidence and ease since the Colombian State supports both depositors and savers through FOGACOOP.


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  • Bogotá - Colombia, Código Postal:110311

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