Coopmedica celebrates 57 years of fruitful work in DR cooperatives

The Cooperativa Médica de Santiago (COOPMEDICA), the first of its kind in Latin America and with more than half a century of service, represents one of the strongest, most credible and fastest growing cooperative institutions in the Dominican Republic in recent years.

Dr. Francisco Estepan Herrera, President of the Board of Directors of Coopmedica, emphasizes that the entity is in the best moment of its history, after being founded on May 4, 1964 by a group of doctors as a consumer cooperative, the first of its kind in Latin America and therefore in our country.

Estepan Herrera, speaking about the history of Coopmedica, emphasized that this prestigious institution, during half a century of existence, has registered a fruitful trajectory of services to its members and the community, making invaluable tangible contributions to the development of the country.

Its effective contribution, he said, is demonstrated in the scope of the nearly 60 thousand members affiliated to the dynamic and thriving cooperative enterprise, open to the general public and covering the entire national territory.

“We are an Institution that develops financial activities with quality, equity and social responsibility protecting the future of our associates,” he said when quoting the company’s mission. “We speak the same language in all of our branches, no matter where they are located.

Coopmedica, is respectful of state regulatory bodies, such as the Institute of Development and Cooperative Credit (Idecoop), and of Law 127 on association and regulation of cooperative enterprises, enacted by the government on January 27, 1964.

It is also a member of the AIRAC system (Association of Rural Savings and Credit Institutions) where it has achieved important positions, reaching high levels of growth in its financial indicators, always complying with the ethics and appropriate behavior of the cooperative philosophy.

The central directors of the board of directors are doctors Francisco Estepan Herrera, Andrés Rivas Peña, Francisco Espino, José Mojica, José Gomez Quezada, Evaristo Cross Castillo and Cándida Stark.

The board of directors are Francisco Rafael Pantaleón, Dr. Ramon Gerónimo Guante, Ana Silvia Santos, Bruno Hernández and Francisca José Vásquez,

The credit committee is represented by doctors Adriano de Jesus Pérez, Mercedes Báez and Haide Paulino, with advisors Robert Persio Cabrera and Nelson Liz Santana and Mr. Rafael -Tulón- Rivera.

Mr. Bienvenido Soto is the general manager of Coopmedica, which has 4 cooperative districts grouping members of fourteen branches throughout the national territory.

District 01 (Vicente Estrella, Colina Mall Gurabo and Bella Terra Mall), 02 (Sabana Larga, Puerto Plata, Santo Domingo, San Pedro de Macorís, Bávaro and La Romana), 03 (Laguna Prieta and La Vega) and 04 (Moca and San Francisco de Macorís).

A little bit of history

Motivated by the need of the medical class to find an institution that could provide them with expendable material and medical instruments, on Monday, May 4, 1964 in the city of Valverde Mao, the National Cooperative of Medical Consumption of Santiago was founded by decree No. 1192, in view of Law 127 on Cooperative Associations dated January 27, 1964, being the first Cooperative of Medical Consumption in Latin America.

In 1992, by means of an Extraordinary Assembly, its services were expanded by adding the savings and credit chapters. In 1994, it joined the Association of Rural Savings and Loan Institutions, Inc. (AIRAC), constituting another point of strength and progress for our institution.

On June 18, 2007 in an Extraordinary Assembly of Members and by means of decree No. 31-09 dated January 14, 2009, the name of Cooperativa Nacional de Consumo Médico de Santiago was modified to Cooperativa Médica de Santiago de Servicios Múltiples, Inc.

Our cooperative is recognized as a financial intermediation entity, serving as a channel for members and related activities that benefit all those who use its services.

At present Cooperativa Médica de Santiago de Servicios Múltiples, Inc. is open to all social classes respecting ideas, race, language, sex, religion, and political creed, as established by the philosophy of cooperativism.

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