Members contacted by the Santa Victoria Savings and Credit Cooperative of RL (COSAVI) determined to arrange a request for options from the Superintendency of the Financial System (SSF). However, they are saying this downside needs to be resolved by the Salvadoran Institute for Cooperative Development (INSAFOCOOP).
In a current interview on Informa TVX, Juan José Ortiz, a type of affected, reported that greater than 10,200 folks have been injured because of the malfunctioning of the SSF that’s used to return cash to savers. Ortiz considers that the present $1,000 per week reimbursement methodology is inadequate and can take too lengthy for these with greater than $15,000 or $150,000 within the union, contemplating that the majority savers have that sum of money.
Given the dearth of options and feeling helpless, greater than 250 members determined to arrange to get info from the SSF and current their proposals to enhance the way in which to ship their cash. In addition, they need the union to proceed working, opposite to the proposal of Congressman William Soriano, who prompt closing the union as a doable resolution.
Ortiz highlighted a few of the options that our companions want to suggest:
- Ask the SSF to permit savers to withdraw their curiosity, no matter their long-term holdings.
- Request a $10,000 refund from SSF each 15 days.
- Ask the federal financial institution for a line of credit score, like a bailout, with a mushy rate of interest.
The companions involved hope that these proposals might be thought of to be able to enhance the monetary state of affairs of the 1000’s of savers who’ve been affected by the COSAVI case.