Assembleia Geral Ordinária FGCoop 2026

Welcome to the FGCOP General Assembly

Introduction and Event Details

• Davi Aires introduces himself and welcomes attendees to the Ordinary General Assembly of FGCOP, emphasizing its significance in credit cooperativism.

• The event is hybrid, allowing both in-person and virtual participation. Attendees are reminded to mute their microphones on Teams for a smooth transmission.

• Voting will be conducted individually, with participants' votes recorded from highest to lowest percentage. Virtual attendees will have their microphones activated during voting.

Acknowledgments and Opening Remarks

• Key figures are invited to join the table: João Tavares (President), Moacir Cranbeck (Fiscal Council Coordinator), Adriano Rit (Executive Director), and Taís Ribeiro (Legal Manager).

• Davi expresses gratitude towards various stakeholders including board members, staff, and cooperative members for their contributions.

Reflections on Cooperativism

• João Tavares shares his appreciation for the team’s support during his transition into the presidency, highlighting the warm reception from cooperatives.

• He reflects on the importance of recognizing a higher purpose within cooperativism, suggesting that assemblies serve as moments of connection among members.

Resilience in Challenging Times

• Tavares discusses FGCOP's role within a larger security system for cooperativism, emphasizing commitment at all levels from associates to audits.

• He acknowledges recent challenges faced by the financial market but praises the resilience shown by cooperatives in adapting and growing despite difficulties.

Importance of Institutional Support

• Recognition is given to external support from institutions like Banco Central; Iven's presence is noted as significant for this assembly.

Presentation of Key Facts about Cooperativism

Overview of Cooperative Growth

• Before formally starting the assembly, an overview presentation is planned regarding FGCOP's performance over the past year.

• Adriano begins presenting key statistics related to national credit cooperative systems, indicating ongoing growth trends.

Membership Statistics

• The first slide reveals that there were over 23 million accounts by 2025—19.8 million belonging to individuals and 3.8 million to businesses—a 13% growth rate since 2019.

Cooperatives in Brazil: Trends and Insights

Overview of Cooperatives from 2019 to 2025

• In 2019, there were 875 cooperatives: 694 deposit-taking and 181 loan capital cooperatives. By the end of 2025, this number decreased to 742 cooperatives, with 594 being deposit-takers associated with FGCOP and 148 as loan capital cooperatives.

• The reduction in the number of cooperatives between 2024 and 2025 was approximately 1.6%. This indicates a slight decline in cooperative presence despite ongoing developments in the sector.

Growth in Points of Service

• Despite the decrease in total cooperatives, there was an increase in service points (PAs), ending 2025 with 10,397 points, marking it as the largest network within the financial system overall. This growth is less than previous years but still significant.

Municipal Coverage by Credit Cooperatives

• There has been a notable increase in municipalities served exclusively by a single credit cooperative, reaching 633 municipalities by the end of 2025. This growth is largely attributed to larger financial institutions withdrawing from smaller towns, highlighting the importance of these cooperatives for local economies.

Financial Performance Metrics

• Total assets reached 1 trillion, 325 billion, reflecting a growth rate of 16% compared to 2024; however, this figure includes banks' assets alongside those of cooperatives. A reclassification under regulation (4966) contributed significantly to this asset elevation rather than new business growth.

• The net worth saw a modest increase of about 3%, influenced by changes due to regulation affecting reserves which dropped from 53 billion in 2024 to 28.9 billion in 2025 due to provisions absorbed directly into reserves during that year. However, capital volume increased to 75 billion, totaling net worth at 130.5 billion by March 2026.

Deposits and Credit Operations Growth

• Total deposits grew nearly 15%, closing at approximately 738 billion by the end of 2025; although this growth rate was slightly lower than previous years, it still signifies robust expansion relative to other financial systems (SFN).

• In terms of credit operations, there was a growth rate of about 9%, concluding with around 509 billion in operations for the year—up from approximately 464 billion previously—indicating steady demand for credit among members despite fluctuations elsewhere within cooperative performance metrics.

Cooperative Results and Future Projections

• The overall results for cooperatives showed an improvement with an increase of about 18%, culminating at an additional profit margin totaling more than 16 billion compared to prior years’ results—a positive sign for future sustainability within these organizations moving forward into subsequent fiscal periods like 26.

• Notably, all figures discussed pertain solely to deposit-taking cooperatives associated with FGCOP; results from loan capital cooperatives are not included here but represent another facet worth exploring further regarding their impact on overall cooperative health and performance metrics moving forward into future assessments or reports on cooperative viability post-regulation adjustments made recently through legislation such as 49/66.

Overview of Cooperative System and FGCOP's Role

Key Statistics on Cooperatives

• The cooperative system closed with 594 affiliated cooperatives, indicating a stable network despite minor fluctuations.

• A significant increase in deposits has been noted, with the percentage guaranteed by FG Corp rising from approximately 58% to 49.43%, reflecting growing trust in the cooperative system.

• The total volume of deposits in the cooperative system reached 717 billion, showcasing its financial robustness.

Highlights for 2025 Initiatives

• Introduction of an ethics and ISG channel for reporting issues while ensuring compliance with LGPD regulations.

• Resumption of a socio-environmental responsibility project initially started in 2013, emphasizing long-term commitment to sustainability.

Risk Management Enhancements

• A new risk classification model (4.0) is being implemented to improve predictive capabilities and enhance overall risk management within cooperatives.

• Emphasis on preventive measures rather than reactive responses; the goal is to avoid liquidation events that could harm public confidence in cooperatives.

Monthly Risk Assessment Process

• Monthly evaluations are conducted to identify cooperatives at risk, providing technical insights without acting as auditors or consultants.

• This proactive approach aims to foster communication between FGCOP and cooperatives, enhancing overall system resilience.

Development and Communication Strategies

• Focus on developing personnel skills among a small team of 30 employees to ensure high-quality service delivery.

• Launching the "FxCop de Portas Abertas" program aimed at increasing visibility and engagement with international cooperative missions visiting Brasília.

• Seven international missions were hosted in 2025, including representatives from Colombia and Ecuador, highlighting FGCOP's commitment to global cooperation.

Technology and Information Security in FGCOP

Importance of Information Technology

• The speaker emphasizes the critical nature of information technology, highlighting the constant risk of cyberattacks faced in recent years.

• The FGCOP possesses invaluable information that must be preserved, necessitating a dedicated area for information security within their technology department.

Strategic Planning for 2026

• In Q4 2025, a presentation was made to the board regarding the Director's Plan for Information Technology, which includes a specific focus on information security.

• The board approved resources aimed at enhancing security measures, indicating a proactive approach to safeguarding data.

Challenges Ahead: Strategic Goals for 2026

Overview of Strategic Planning

• Erika, the risk director, discusses strategic planning challenges for 2026 during her address to both in-person and virtual attendees.

• The strategic plan spans from 2026 to 2028 and was developed collaboratively with the Board of Directors at the end of the previous year.

Key Challenges Identified

• One major challenge is predictive management, focusing on continuous monitoring and scenario simulations to enhance risk identification and preventive management maturity within FGCOP.

Developing New Risk Models

Transitioning Risk Assessment Methodologies

• A new risk model has been introduced that aligns with Resolution 4966, allowing better classification and evaluation of cooperatives based on financial health.

• For 2026, there is an emphasis on developing this new model further using modern methodologies that incorporate expected loss concepts and predictive modeling.

Scenario Simulations

• The team will conduct scenario simulations using macroeconomic variables to assess how cooperatives respond to potential economic shocks.

Institutional Relationships and Cybersecurity

Enhancing Institutional Relationships

• Strengthening institutional relationships is identified as another significant challenge for 2026; this involves demonstrating the effectiveness of their models within the financial system.

Cybersecurity Initiatives

• Last year’s approval of the Director's Plan for Information Technology (PDTI) marks significant progress in addressing technological infrastructure needs alongside cybersecurity concerns.

Governance and Sustainability Initiatives

Governance Framework Expansion

• There is a push towards advanced governance not only corporately but also extending into data governance and risk mitigation strategies as part of broader sustainability initiatives.

Implementation Challenges

• Implementing sustainability projects remains a key challenge; metrics are needed to measure environmental actions effectively across FGCOP’s operations.

Expanding Knowledge Dissemination

Outreach Efforts

• Building upon successful events from 2025 like "Portas Abertas," there are plans to expand outreach efforts in 2026 to increase awareness about FGCOP among all cooperatives within their system.

FGCOP Assembly Overview

Introduction to FGCOP's 2026 Program

• The FGCOP is inviting participation in its strengthened program for 2026, emphasizing the importance of collective involvement.

• Focus on human capital development includes training initiatives and maintaining a positive organizational climate, alongside efforts to instill a cooperative culture within FGCOP.

Cultural Development and Health Initiatives

• A solid institution requires a strong culture; FGCOP is still developing its cultural identity after 12 years. Human resources are actively promoting this cultural integration across various themes.

• Continuous information sharing, clear goals, and health promotion are prioritized not just for employees but for the entire system, highlighting that the future of FGCOP relies on its people.

Formal Assembly Proceedings

• The assembly commenced with full voting representation confirmed; members present both physically and virtually were acknowledged. The election of Taís as secretary was proposed without objections.

• Taís read the assembly's convocation notice detailing the agenda items including financial accountability and elections for key positions within the organization.

Agenda Items and Voting Representation

• Key agenda items included financial reports from 2025, re-election of executive directors, setting remuneration limits, and other governance matters scheduled until 2029. The notice was published on April 1st, 2026.

• Voting representation is structured by systems: cooperatives represented through their central or confederation bodies; independent cooperatives represented by OCB (Organização das Cooperativas Brasileiras). This ensures fair representation at the assembly.

Confirmation of Quorum and Financial Review

• All representatives eligible to vote do not belong to either the Board of Administration or Fiscal Council of FGCOP, ensuring unbiased voting participation. Attendance percentages from various systems were noted during roll call.

• Discussion shifted towards reviewing financial statements for 2025; these documents had been previously approved by the Board on March 12th with input from KPMG auditors also present at this meeting.

Financial Overview and Audit Report

Key Financial Highlights for 2025

• The financial report indicates a classification of 6.8 billion in short-term financial applications, reflecting a strategic shift to enhance liquidity and manage the portfolio curve effectively.

• A significant change is noted between 2024 and 2025, with no long-term financial applications allocated for 2025, impacting overall financial strategy. The 417 million in titles and receivables are linked to financial assistance operations with cooperatives.

• The organization reported a 3.9 million rate of bounced checks as per Central Bank data, alongside general administrative expenses totaling 18 million, which includes provisions for expected losses related to financial assistance operations.

• New provisions implemented in 2025 amounting to 26 million led to an operational surplus of 957 million, with total revenues from finance reaching approximately 854.8 million against administrative costs of about 3.8 million. This resulted in a net income of 854 million and an overall surplus of around 1.8 billion.

Financial Asset Allocation

• As per policy guidelines, the fund's investments must consist of at least 80% public securities, allowing up to 20% in private securities; currently holding approximately 567 million in public titles and about 650 million in private titles from top-tier institutions rated AAA.

Comparative Analysis: Expenses

• A comparative analysis between years shows that general administrative expenses rose from 15.1 million in 2024 to approximately 18.8 million in 2025, covering salaries, benefits, professional services, and maintenance costs among others.

Auditor's Report Summary

• An independent auditor reviewed the financial statements for the Credit Cooperative Guarantee Fund (FGCOP) as of December 31, 2025, confirming that they accurately reflect the fund's position according to Brazilian accounting practices.

• The auditor’s opinion states that all relevant aspects are adequately presented regarding FGCOP’s assets and operations performance as well as cash flows for the fiscal year ending on December 31, 2025. This affirmation supports confidence in the fund's management practices moving forward.

Council Fiscal Review

• Dr. Moacir provided insights into the council's oversight activities during quarterly meetings where they examined administration reports and audit findings related to FGCOP’s performance through December 31, 2025.

• Based on their evaluations, they favorably recommend approval of accounts for fiscal year 2025 while acknowledging independent auditors' reports affirming sound management practices within FGCOP operations throughout this period.

This structured overview encapsulates key discussions surrounding financial performance metrics while providing timestamps for easy reference back to specific segments within the transcript content.

Meeting Proceedings and Key Decisions

Attendance and Approval of Minutes

• The meeting begins with a roll call of attendees, confirming presence from various representatives including Enio Máin from CICob and Danilo Maci from CICréd.

• Acknowledgment of virtual attendees such as João José Flávio da OCB and García from Uniprime, ensuring all members are accounted for.

• Confirmation that the minutes from the previous meeting are approved without objections.

Re-election of Executive Director

• Discussion on the re-election of Adriano Richter as Executive Director, highlighting the need for renewal due to term limits.

• Presentation of Adriano's qualifications: degree in economics, MBA in advanced business management, extensive experience in management roles at Banco do Brasil.

• Voting process initiated; unanimous support is expressed by attendees for Adriano’s re-election.

Global Remuneration Limit for Executive Board

• Introduction of agenda item regarding the global remuneration limit for the executive board set at R$ 3.300.000,00 due to necessary adjustments.

• Voting on the proposed remuneration limit occurs with all present members voting in favor.

Independent Council Member Renewal

• Proposal to renew the mandate of an independent council member whose term is concluding; discussion on maintaining governance integrity.

• Transitioning leadership responsibilities during this vote to ensure impartiality; tradition upheld by delegating to a secretary.

Election of Independent Council President

• Announcement regarding João Tavares' re-election as Independent Council Member; his credentials include over 20 years in financial institution management.

• Voting confirms unanimous approval for João Tavares’ continued leadership role within the council.

This structured summary captures key discussions and decisions made during the meeting while providing timestamps for easy reference.

Approval of João Tavares as President

Acknowledgment and Gratitude

• The speaker expresses heartfelt gratitude for the approval of João Tavares as president, emphasizing that their direct communication style is always aimed at a greater purpose.

• The speaker shares personal emotions tied to their origins in a different system, highlighting the importance of collaboration among various systems.

Communication Style and Openness

• Encourages open dialogue about any issues, promoting a culture where feedback is welcomed and valued.

• Discusses the standard procedure regarding the remuneration of independent council members, clarifying that representatives do not receive payment.

Remuneration Discussion

Current Remuneration Structure

• States there will be no proposed increase in remuneration; it will follow the same percentage applied to FGCOP employees.

• Differentiates between the salaries of the president and other independent council members, providing specific figures for transparency.

Voting Process

• Confirms unanimous agreement from council members present during the voting process for item 6 related to remuneration.

Election of Fiscal Council

Recognition of Current Members

• Acknowledges the contributions of current Fiscal Council members, emphasizing their vital role in ensuring operational integrity despite its simplicity.

Candidate Introductions

• Introduces candidates for election to the Fiscal Council, noting adherence to statutory norms and expressing appreciation for their willingness to serve.

Candidate Profiles

Francisco Silvio Repórcio Júnior

• Describes his extensive experience in cooperative finance and leadership roles within SICOB Central Espírito Santo since its inception.

Sebastião Xavier Rodovalho

• Highlights his qualifications as a lawyer and accountant with significant governance experience across various sectors including cooperatives.

Profile of Key Individuals in the Cooperative Sector

Medical and Professional Background

• The individual is a physician specialized in gynecology and obstetrics, with additional qualifications as an accounting technician and postgraduate studies in hospital administration, auditing, and health.

Academic Achievements and Leadership Roles

• He holds a law degree focused on taxation of credit cooperatives, has executive coaching training, and participated in various courses related to change management, corporate governance, and results-oriented management. He served as president of Unicredi Porto Alegre and currently acts as a board member there.

Experience in Credit Cooperativism

• Carlos Vando is recognized for his solid professional background within the credit cooperative system. His expertise includes governance, risk management, compliance, and anti-money laundering practices.

Current Positions Held

• Since April 2024, he has been serving as the President of the Board of Directors at Central Cresol-Sicópia. Previously held leadership roles at Cresol Centro-Sulri.

Legal Expertise in Cooperative Management

• Thiago Borba Abrandes is introduced as a substitute advisor representing non-affiliated members. He is an attorney with postgraduate education in legislative processes and an MBA focused on managing credit cooperatives since 2010.

Voting Process for Council Composition

Approval of New Council Members

• The voting process for new council members was initiated with representatives from various organizations confirming their agreement to the proposed composition.

Recognition Ceremony for Current Members

• A recognition ceremony was planned for current Fiscal Council members by signing digital acknowledgment forms during this assembly session.

Acknowledgments and Closing Remarks

Gratitude Towards Contributions

• A formal acknowledgment was made to IFA NGO's contributions by the executive board during their tenure on the Fiscal Council from 2023 to 2026.

Open Floor for Comments

• The floor was opened for any comments or questions from attendees regarding the assembly agenda items discussed earlier.

Reflections on Cooperation Amid Challenges

Importance of Collaboration

• Ivens expressed gratitude towards mutual support between cooperatives even during turbulent times while emphasizing ongoing communication benefits within the cooperative sector.

Recognition of Past Leadership

Appreciation for Previous Management Cycle

• Recognition was given to past councils' efforts during their management cycle while wishing success for future endeavors within cooperative leadership roles.

Personal Reflections on Transitioning Roles

Learning Through Transition

• An individual reflected on their learning experience during a four-month transition period that significantly enhanced their understanding of cooperativism through mentorship received from Lúcio.

Conclusion: Gratitude Towards Support Systems

• Expressed thanks towards all councils who supported them throughout their tenure while acknowledging directors’ contributions essential to ongoing operations.

Acknowledgments and Reflections on Cooperativism

Gratitude for Contributions

• The speaker expresses heartfelt gratitude to the audience, acknowledging their efforts, knowledge, and dedication that contributed to the speaker's reconduction.

• Thanks are extended specifically to those in Brasília who have supported the speaker over many years, highlighting a journey from a small town in Santa Catarina.

Insights into Cooperativism

• The speaker describes a city known for its strong cooperative culture, where nearly 100% of the population participates in cooperatives. This city has even recognized cooperativism as part of its cultural heritage.

• The importance of teaching cooperative philosophy in schools is emphasized through a law signed by the Mayor, showcasing an effort to instill these values in future generations.

Recognition of Key Individuals

• Acknowledgment is given to Júnior and Espentov for their significant roles in supporting the speaker’s journey and contributions.

Role of FGCOP in Credit Cooperativism

• The evolution of FGCOP is highlighted as essential for the stability of SNCC (National System of Credit Cooperatives), emphasizing its transformative role in promoting financial inclusion and local development.

Commitment to Security and Trust

• FGCOP's mission is reiterated: ensuring safe transformation within credit cooperatives while maintaining trust among depositors. The assembly concludes with thanks for participation both physically and virtually.