Compliance with Good Governance in Savings and Credit Cooperatives of Ecuador
Abstract
Cooperative governance is defined as the instance where organizations develop their corporate purpose within a democratic social structure, and where the partners fulfill exposed functions tending to satisfy the needs and achieve institutional fines. The savings and credit cooperative sector of Ecuador has experienced a significant decrease in its members from the control carried out by the Superintendency of Popular and Solidarity Economy (SEPS), due to various problems related to the way these institutions are governed: non-compliance with the rules, voluntary decision of the leaders and financial crises. In this context, the present investigation analyzes the requirements for the implementation of good governance in savings and credit cooperatives (COAC), starting from the institutional approach to the associative approach, based on a detailed bibliographic analysis and supported by the application of interviews of four legal representatives of COAC from segment three of the province of Tungurahua. The results of the study indicate options for improving the principles of cooperation between COAC, interest in the community, democratic management and education, training and information, being important the necessity to achieve these principles in order to comply the COAC social goals.
Received: 19 April 2024
Accepted: 21 June 2024
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