Chapter 1
Article 1.- Definitions: The "MODERNA" Savings and Credit Cooperative Ltda, a non-profit institution to provide solidarity financial products and services, freely and voluntarily, to satisfy common needs of its members and with social responsibility towards its community. Its purpose is developed within the cooperatives principles and values universally accepted, complying with the current general provisions that regulate the financial activity in the country, with specialized consideration for the cooperative sector (CONSUCOOP).
Article 2.- Legal framework. The Cooperative is governed exclusively by the provisions of the Cooperative Law, its Regulations, and this Statute, the general provisions issued by the National Cooperative Supervisor Council (CONSUCOOP), the regulations issued on the subject by the Savings and Credit Superintendent, dependent on CONSUCOOP, and the cooperative principles adopted.
SECTION I
OF THE CONSTITUTION, SOCIAL DENOMINATION, PURPOSES, AND ADDRESS.
Article 3.- With the social denomination of MODERNA Savings and Credit Cooperative Ltda, it is constituted as a first-degree cooperative, as a non-profit association, and of indefinite duration. Its activity will be Limited Liability Savings and Credit Services.
Article 4.- Purpose of incorporation. The Cooperative is constituted to provide solidarity financial services freely and voluntarily to satisfy common needs of its members and with social responsibility towards its community. Its functionality is developed within the cooperatives principles and values universally accepted, complying with the current legal provisions that regulate the financial activity in the country.
Article 5.- The legal domicile of MODERNA Savings and Credit Cooperative Ltda will be the Municipality of La Ceiba, Department of Atlántida, Honduras, Central America, and may organize subsidiaries, windows, or service points in other areas of the National territory or abroad if necessary, with a favorable opinion from CONSUCOOP.
SECTION II
PRINCIPLES AND OBJECTIVES
Article 6.- Enunciation and Definition of Cooperative Principles. MODERNA Savings and Credit Cooperative Ltda, adopts the following cooperative principles:Open and voluntary membershipDemocratic member controlMember economic participationAutonomy and independenceEducation, training, and informationCooperation among cooperativesConcern for the community
Article 7.- Definition of Cooperative Principles:
First Principle: Open and voluntary membership. The Cooperative is a volunteer organization, open to all those willing to use its services and willing to accept the responsibilities that membership entails, without discrimination based on gender, race, social class, political or religious position.
Second Principle: Democratic member control. The Cooperative is a democratic organization controlled by its members, who actively participate in defining policies and decision-making. Men and women elected to represent their Cooperative are accountable to members. In the Cooperative, members have equal voting rights (one member, one vote).
Third Principle: Member economic participation. Members contribute equitably and democratically control the capital of the Cooperative. At least a portion of that capital is common property of the Cooperative.
Fourth Principle: Autonomy and independence. The Cooperative is an autonomous mutual aid organization controlled by its members. If they enter into agreements with other organizations (including governments) or have capital from external sources, they do so on terms that ensure democratic control by their members and maintain the autonomy of the Cooperative.
Fifth Principle: Education, training, and information. The Cooperative provides education and training to its members, elected officials, managers, and employees, so that they can effectively contribute to the development of their Cooperatives. The Cooperative informs the general public, particularly young people and opinion makers, about the nature and benefits of cooperativism.
Sixth Principle: Cooperation among cooperatives. The Cooperative serves its members more effectively and strengthens the cooperative movement by working together through local, national, regional, and international structures.
Seventh Principle: Commitment to the community. The Cooperative works for the sustainable development of its community and the protection of the environment, through policies accepted by its members, promoting responsible management of natural resources to ensure ecological balance and human well-being.
Article 8 - Objectives of the Savings and Credit Cooperative "MODERNA" Limited. The cooperative will have the following objectives:
A. Improve the economic, social, cultural, and environmental conditions of the cooperative members and the community in which they operate.
B. Contribute efforts to achieve the cooperative's strategic vision and mission, with respect to solidarity with humans and sustainable development with the community, established in cooperative principles.
C. Increase the assets of the cooperative members and the nation by increasing production and productivity, encouraging savings, intervention, work, and the responsible use of credit.
D. Increase national income and employment opportunities with equal conditions and opportunities, in the use of natural resources to increase and diversify production, productivity, and exports, and promote the use of techniques compatible with the environment.
E. Encourage individual and collective initiative, solidarity, self-help, and a spirit of responsibility in all segments of the population, for the solution of their economic and social problems, in particular, and those of the country in general.
F. Collaborate with the State and its institutions in the elaboration and execution of economic and social development plans, in particular, and those of the country in general.
G. Promote and encourage education in general and mainly to cooperative members at all levels through training and education programs.
H. Promote research in cooperativism.
I. Promote the expansion of the cooperative movement and its integration at all levels.
J. Promote the social property of the Savings and Credit Cooperative "MODERNA" Ltd.
K. Promote affirmative actions with a gender equity focus.
Article 9 - Activities to achieve the Social Objective. To achieve the social objectives, the Savings and Credit Cooperative "MODERNA" may carry out the following activities:
A. Develop social outreach programs in the regions where the cooperative has offices, branches, windows, kiosks, and others.
B. Systematically train cooperative members through the design and implementation of educational programs.
C. Promote and support actions to consolidate and integrate the cooperative movement at the local, regional, and national levels.
D. Establish strategic alliances with government institutions, private non-governmental organizations, and the national and international cooperative movement, which lead to increased development opportunities for the solution of social, educational, health, basic sanitation, environmental, cultural, and other problems in the communities where they operate.
Article 10 - Activities for Achieving Financial Objectives: For the achievement of the financial objectives, the Cooperativa de Ahorro y Credito "MODERNA" Limitada may carry out the following operations and services:
A. Receive savings and term deposits in the national currency.
B. Grant loans in national currency, in accordance with the guidelines established in the regulatory framework issued for this purpose.
C. Manage and receive loans from financial and non-financial institutions in the country and abroad.
D. Provide safe deposit box services.
E. Carry out credit operations with other cooperatives or institutions of the Financial System.
F. Acquire movable or immovable property necessary for the development of its activities, within the limits established in the regulatory framework issued for this purpose.
G. Make deposits in financial institutions or in other Cooperatives in which it acts as an affiliate.
H. Invest and/or acquire shares in companies that aim to provide services to the Cooperative or that are compatible with its social purpose, within the limits established in the regulatory framework issued for this purpose.
I. Acquire securities registered in the Public Registry of the Securities Market, and carry out analyses as appropriate to the circumstances.
J. Invest and/or acquire securities issued by the Central Bank of Honduras, the Ministry of Finance, or any other security guaranteed by the State of Honduras.
K. Enter into resource intermediation contracts with specialized institutions to achieve the objectives of the Cooperative.
L. Collect payments for public services and others, through service outsourcing.
M. Subscribe and pay contributions to second and third degree organizations, as well as to other auxiliaries of the cooperative sector.
N. Enter into resource collection agreements with for-profit juridical persons that primarily result from operations with cooperatives, this operation is only allowed in cases where there is no other financial institution authorized to collect funds through savings and checking accounts in the location where the Cooperative is located.
O. Attract and channel resources to support consumption, housing, education, microenterprises, etc., through the provision of diversified products that benefit its cooperative members.
P. Promote and finance productive projects.
Q. Systematically educate, train, and inform cooperative members through the design and implementation of educational programs aimed at increasing the competitiveness of human resources.
R. Carry out social outreach actions towards the community and protect the environment.
S. Ensure the lives of cooperative members through insurance, through specialized institutions, preferably in the Cooperative Sector.
Article 11.- Pre-approval operations. In addition to the operations mentioned in the previous Article, the Savings and Credit Cooperative "MODERNA" Ltd., subject to non-objection by CONSUCOOP and in compliance with the current legal framework, can carry out the following operations:
A. Receive foreign currency savings and time deposits.
B. Grant loans in foreign currency, in accordance with the guidelines established in the regulatory framework that may be issued for this purpose.
C. Market or co-issue credit and debit cards in accordance with the provisions of the current legal framework.
D. Collect payments for public services and other services directly.
E. Carry out fund transfer and remittance operations.
F. Act as a payment agent for the conditional transfers of the State of Honduras.
G. Purchase and sell credit portfolios from other Savings and Credit Cooperatives and institutions in the Financial System.
H. Market micro-insurance and micro-pension products with institutions authorized by the current legal framework to provide such services; and,
I. Carry out any other financial activity aimed at improving the social, economic, and cultural conditions of cooperative members and the community in general. And any other financial activity that is not expressly authorized by the Cooperative Law of Honduras and its regulations. For the execution and attainment of the services provided and to achieve the objectives set forth in these articles, they shall be appropriately regulated.
To continue reading our policies, you can download them from the following link:
Click to download Moderna Ltd. Cooperative Policies. April 2023
BOARD OF DIRECTORS:
President: Víctor Donnie Allen Figueroa
Vice President: Yensen Yoel Rojas Zúniga
Secretary: Kenia Lestina Ramos Montes
Treasurer: Keily Mabel Morales Garrido
Vocal I: Suyapa Yolany Muñoz Santos
Alternate: Mártir Esteban Zapata Ramírez
SURVEILLANCE BOARD:
President: Isabel Alejandra Rosa Rodríguez
Secretary: Diego Raúl Castillo Molina
Vocal: Francisco Javier Guity Palacios
Alternate: Rossembell Norales Guity
