Background on Sofipo and its Impact
The Sociedad Financiera Popular (Sofipo) CAME, which was regulated and operated under the watch of the Comisión Nacional Bancaria y de Valores (CNBV), has had its operating license revoked. This decision activates the process for affected savers to claim their deposit insurance, which safeguards their resources.
Who is Sofipo CAME and why is this relevant?
Sofipo CAME was a financial entity that offered various financial services to the public. Its revocation by the CNBV signifies a significant event for those who entrusted their savings to this institution. With the CNBV’s action, savers can now seek recourse through the deposit insurance program.
Understanding Deposit Insurance and Coverage
Sociedades Financieras Populares (Sofipos) are regulated entities that come under the protection of the Fondo de Protección de Sociedades Financieras Populares. This fund ensures coverage for deposits up to a maximum of 25,000 Unidades de Inversión (UDIs), which equates to approximately 213,614.875 Mexican pesos per person as of September 23, 2025.
Key Steps and Timelines for Refund
- Submit your claim; the documentation will be verified, and you’ll receive a folder number and receipt.
- The liquidator will calculate and validate the refund amount (after deducting any outstanding loans) within a maximum of 15 business days.
- The Committee for Protecting Savings will review your claim within 20 business days and publish weekly reports on the Fondo and Sofipo’s official pages.
- The refund will be processed within a maximum of 80 natural days through an order for payment, a nominative check, or a bank transfer.
Important Considerations
- Ensure you provide proper documentation; without it, no payment will be issued.
- Payments will not be made to members of the board of directors or high-ranking officials.
- Operations outside normal procedures or linked to illicit activities are not covered by the insurance.
What if your deposits exceed the insured limit?
If your deposits surpass the 25,000 UDI limit, you can claim the insurance up to that amount. Any excess will need to be recovered through Sofipo’s liquidation process, with no guarantee of full repayment.
Recommendations from Condusef
The Comisión Nacional para la Protección y Defensa de los Usuarios de Servicios Financieros (Condusef) advises savers to diversify their accounts and investments across various institutions to maximize the protection offered by deposit insurance.
Key Questions and Answers
- What is the deadline to file a claim? Savers have 180 days, starting from the date of CNBV’s announcement, to submit their claims.
- What documents are required for a successful claim? Proper documentation is essential; without it, no payment will be issued.
- Are there any exceptions to the insurance coverage? Operations outside normal procedures or linked to illicit activities are not covered.
- What happens if my deposits exceed the insured limit? You can claim up to 25,000 UDIs; any excess will need to be recovered through Sofipo’s liquidation process.
- How will I receive my refund? Refunds will be processed within 80 natural days through an order for payment, a nominative check, or a bank transfer.
