Background and Relevance of Credit Unions in Mexico
Credit unions in Mexico have experienced a remarkable 41.29% growth in total assets since 2016, according to data from the National Banking and Securities Commission (CNBV). In 2016, their assets stood at approximately 49,600 million pesos, which has since surged to over 70,081 million pesos by August 2025.
Credit Unions’ Strategic Role in Nearshoring and Regional Financial Inclusion
Benjamín Sacal, president of ConUnión, highlighted the sector’s solidity and strategic importance in the context of nearshoring and regional financial inclusion. Sacal emphasized the increasing participation of women entrepreneurs within credit unions, both as members and in leadership positions. He also stressed the need to continue promoting financial inclusion in communities that are not served by traditional banking.
Credit Unions vs. Multiple Banks
Sacal asserted that while multiple banks have their place in the financial system, credit unions remain crucial for regional development, strengthening small and medium-sized enterprises (SMEs), and driving the country’s economic expansion.
Key Actions and Ideas
- Credit union assets in Mexico have grown by 41.29% since 2016, reaching over 70,081 million pesos by August 2025.
- The sector has seen increased participation from women entrepreneurs, both as members and in leadership roles.
- Credit unions play a vital role in regional development, supporting SMEs, and fostering economic growth.
- There is a continued emphasis on promoting financial inclusion in underserved communities.
Key Questions and Answers
- What are credit unions in Mexico? Credit unions are member-owned financial institutions that provide various banking services, such as savings accounts, loans, and credit cards. They operate on the principle of democracy, with each member having one vote, regardless of their account balance.
- Why are credit unions significant in Mexico? Credit unions have experienced substantial growth since 2016, contributing to regional development, supporting SMEs, and fostering economic expansion. They also play a crucial role in promoting financial inclusion among underserved communities.
- Who is Benjamín Sacal and what is ConUnión? Benjamín Sacal is the president of ConUnión, a Mexican organization that represents credit unions. ConUnión aims to strengthen and promote the interests of its member credit unions, advocating for policies that support their growth and development.
