A. M. The Superintendencia del Sistema Financiero (SSF) announced the opening of a new savings refund tier for members of the Cooperativa de Ahorro y Crédito Santa Victoria de R.L. (COSAVI) starting may 2, members with deposits of up to US$45,000 will be able to go to the only authorized agency to recover their money, as confirmed by Superintendent Evelyn Gracias.
With this measure, an estimated 84.7% of savers affected by the COSAVI case will receive their funds, Gracias indicated. The cooperative, currently under intervention by authorities, faces accusations of fraudulent administration and money laundering, which has complicated the restitution process for those affected.
The only branch authorized for withdrawals is the Gabriela Mistral branch, which will be open monday through friday from 8:30 a.m. to 5:00 p.m., and saturdays from 8:30 a.m. to 12:00 p.m. Authorities recommend arriving with valid personal documents and patience, given the expected high demand.
The SSF assured that it is continuing to evaluate options to expedite the full return of funds to savers. Although the outlook is complex, the necessary steps are being taken to ensure members recover their deposits as quickly as possible.
Likewise, users expect the process to continue transparently and promptly until 100% coverage is reached.
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