CNAE Brazil 64.24-7—Cooperative credit

Where 64.24-7 sits

1. K Financial, insurance and related services activities
2. 64 Financial services activities
3. 64.2 Monetary intermediation - demand deposits
4. 64.24-7 Cooperative credit

Contains 4 narrower codes

• 6424-7/01 Cooperative banks
• 6424-7/02 Central credit cooperatives
• 6424-7/03 Mutual credit cooperatives
• 6424-7/04 Rural credit cooperatives

What 64.24-7 includes

• The activities of cooperative banks are commercial banks constituted as closed-capital corporations controlled by central credit cooperatives that must hold at least 51% of the voting shares. They cannot participate in the share capital of financial institutions authorized to operate by the Central Bank, and their corporate name must include the expression "Cooperative Bank". They operate as commercial banks, but are restricted to the Federative Units where the headquarters of the controlling legal entities are located, and may enter into service agreements with credit cooperatives located in their area of ​​operation
• The activities of central credit cooperatives and confederations of central credit cooperatives. Central credit cooperatives are formed by at least three individual credit cooperatives that organize, on a larger scale, economic and welfare services of interest to their members. Confederations of cooperatives are societies formed by at least three central credit cooperatives, in cases where the scale of the undertakings exceeds the scope of capacity or convenience of action of the central credit cooperatives
• The activities of mutual credit cooperatives that operate in granting credit to their members. Their membership consists of individuals who practice a specific profession or common activities, or are linked to a specific entity, and, exceptionally, legal entities that, according to law, are defined as micro or small businesses and whose purpose is the same economic activity as the individuals, or related activities. They can also be formed by people who live in a specific region (with open admission of members)
• The activities of rural credit cooperatives that operate in granting credit to associated rural producers for the marketing of their production. Their membership consists of individuals who effectively and predominantly develop agricultural, livestock, or extractive activities in the cooperative's area of ​​operation, or who are dedicated to fish capture and processing operations

64.24-7 in other systems