Requirements for credit in Caja Popular Mexicana: Get the information you are looking for

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Do you have plans to start a business? Or maybe buy a car or a house? The solution is here, read Requirements for credit in Caja Popular Mexicana: Get the information you are looking for and you will surely find the best option in their products, become a member and start making your dream come true.

What is the Mexican Popular Box

Is a cooperative organization designed to manage, stimulate and instill the value of savings and loans based on them. She has more than sixty years in exercise, so her experience in the area makes her participate in the practice of systems that support the improvement of the quality of life among its members, who are known as partners.

As a motivating element, they exercise mutual aid and the responsible use of credit through its catalog of products for savings, credit and investment.

Assuming that the International Cooperative Alliance defines the cooperative as the one grouping with autonomy, from people who voluntarily join forces to strengthen themselves and make decisions that help them face common needs, in the social, cultural and economic sphere.

Becoming a multi-owner company that is democratically controlled and organized.

This association and its successful practice is so important that the UN or the United Nations, has recognized as associations and companies, which influence citizens to effectively and simultaneously improve the economic, social, cultural and political development of society, expanding their benefits to the nation.

In addition to distinguishing them as important elements, different in the matter of growth at the national and international level.

We found that a cooperative system has democratic characteristics, which is locally autonomous, with international integration. Where citizens at their own risk, they also find their own help, for achieve not only its economic goals, but also social and environmental ones, for example; get out of or overcome poverty, through productive employment.

What are the requirements to be a member of the Caja Popular Mexicana?

To be a member of this savings and loan cooperative, it is required:

  • Be over 18 years of age or legally emancipated, that is, with a marriage certificate.
  • With a vocation to work under the principle of honesty and enjoy all their civil rights.
  • The address of residence or the place where you work, is within the same area or territory of operation of a branch of the cooperative.
  • Perform in person at the branches of the Caja Popular Mexicana, the steps to enter.
  • Complete the application for admission to the Caja Popular.
  • Pay the social amount of $ 750.00.
  • The membership card for $ 20.00 must be covered.
  • Deliver a photocopy of a proof of the residence address and present the original for validation, only in cases where the address does not match that of the official identification or lacks it.
  • Some valid official identification, copy and original.
  • The unique key of the population registry or CURP, only when it is not shown in the official identification voucher.

You may also be required to:

  • The landline or mobile phone number.
  • Information related to the beneficiaries, date of birth, residence address and telephone number
  • Certificate of legal representative, if applicable.

What types of credits does the Caja Popular Mexicana offer?

Among the range of credits offered by the Caja Popular Mexicana, we find:

  • Personal credit, aimed at meeting business needs, for vacations, also for medical expenses, for education and for the payment of debts or any legal activity. The minimum loan amount is $ 1,000 pesos. There is no commission for opening.
  • Personal Credit Plus, is to satisfy consumption needs or for legal activities. Those for productive and commercial purposes are not included. Amounts range from $ 1,000.00 to $ 18,078,600.00
  • Immediate CreditAs its name implies, it is an instant credit, the amount assigned is equal to or less than the amount saved, at a very accessible interest rate.
  • Credinamico, this credit can be used to cover any need, with amounts from $ 10,000.00 Up to $ 120,524.00.
  • Productive Credit, with this credit you can finance productive and commercial activities, with amounts ranging from $ 1,000.00 up to $ 18,078,600.00
  • Automotive creditObviously you can use it to acquire the car you want, new or used from an agency, for private use or work. The total cost of the car is financed. With amounts from $ 36,157.00 to $ 903,930.00
  • Mortgage credit, aimed at the acquisition of a new or daring home, being built or remodeled, in improvements that are not for commercial purposes. The amounts to be loaned are between $ 62,745 to $ 18,823,500.00. They finance up to 95% of the value of the home to be purchased, as long as it does not exceed the maximum amount of the loan product.

What are the requirements to apply for a loan at the Caja Popular Mexicana

Next, we will show the general requirements requested for all credits and the specific ones according to their type.

  • General:
  1. One of the valid proof of official identification.
  2. Some proof of current address of the applicant.
  3. A recent certificate of income
  4. The credit application according to the institution’s form.
  5. Be a member of Caja Popular Mexicana

It is necessary to know that:

  • The Loans that are granted are in national currency.
  • These products are available in all branches of the country.
  • Credit products are subject to submitting a Guarantee.

Personal Credit Plus

  1. Have a 10% savings as a guarantee
  2. You must present an insurance that covers loans of more than 60,000 UDIS in case of being a full member. For non-classified members, it applies to loans greater than 25,000 UDIS and also a mortgage guarantee.

This product can be obtained and maintained by more than one Partner simultaneously. The mortgage guarantee must not be the home owned by the applicant.

Immediate Credit

  1. Have availability in Mexican Account or maintain an investment in Rendicuenta

Only one loan can be managed for each Rendicuenta investment

Credinamico

  1. As a guarantee, you must have 10% savings.
  2. A minimum payment must be met on a monthly basis.

No more than one credit for this product may be granted to the member at a time.

Productive Credit

  1. Have insurance that covers credits of more than 60,000 UDIS if the applicant is a full member and if it is greater than 25,000 UDIS in the case of an unclassified member, in addition to a mortgage guarantee.

This product can be obtained and maintained by more than one Partner simultaneously. The mortgage guarantee must not be the home owned by the applicant.

Automotive credit

  1. Submit the budget for the car, issued by the automotive dealer.
  2. It will be necessary to have insurance in the name of Caja Popular Mexicana, which can be financed simultaneously with credit and with broad coverage.

Mortgage credit

  1. Some proof that proves the purpose.
  2. A mortgage guarantee will be required when it is for liquidity purposes, a 10% savings will be required.
  3. The real estate must have damage insurance with basic damage coverage.

A maximum of two loans may be maintained at the same time under this product, as long as its purpose is not the same and the requirements may vary depending on the credit analysis.

What is the interest rate of the Caja Popular Mexicana

The interest rate is stipulated by ranges, according to the amounts accredited and the number of times they have been assigned, so we find that the rate in the first range of $ 0.01 to $ 10,000.00, the interest goes from 15.5% in its first assignment to 23.43% when it exceeds the fourth time of assignment.

In the second range from $ 10,000.01 to $ 25,000.00, they go from 17.07% to 24.15%

For the third, from $ 25,000.01 to $ 50,000.00, we find from 18.99% to 24.75%

In the fourth range, from $ 50,000.01 to $ 100,000.00, we have a minimum of 20.91% to 25.23%

And in the fifth rank, the amounts range from $ 100,000.01 onwards, with 22.59% to 25.71%

What are the benefits and obligations of the member of the Caja Popular Mexicana

By becoming a member of the Caja Popular Mexicana, you will obtain benefits such as:

  • You will be able to make deposits of the savings
  • You will have the availability to apply for and obtain loans
  • You will be a party with voice and vote in the assembly. With disposition to choose the positions for leader, according to the approved norms.
  • You will be able to receive financial information and make recommendations to modify the statutes.

Within the obligations, it is sincere interest in the operation and financial situation. In addition to maintain respect for the cooperative and its members, encouraging union and fellowship among them.

Without forgetting that you must:

  • Comply with and enforce the statutes and all the regulations of the popular fund and the agreements approved by the assembly.
  • Honor the increases of the social part, established in the Extraordinary Assembly.
  • Be part of both the economic and social development of the cooperative.

Do not leave it for tomorrow, become a member of the Mexican Popular Fund!

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