Cresol is celebrating one of the best years in its history and consolidating itself as one of the largest credit cooperatives in Brazil. The financial institution closed its 2021 balance sheet with record growth of 30% amid the pandemic and a leap in technology, people hiring, member membership and geographic expansion.
The growth plan was accelerated during the pandemic with investment in technology and people. In 2021, 77 branches were opened and expansion should continue at a strong pace in the coming years.
Today, Cresol is present in 17 states with 682 branches, 680 thousand members and a reference equity of R$2,03 billion. The cooperative closed 2021 with R$299 million in financial results and handled R$16,8 billion in assets; another R$7,2 billion in total deposits and a total portfolio of R$13,02 billion, of which R$6,5 billion in rural/business credit transfers and R$6,52 million in commercial credit. During this period, R$43,5 million in interest was credited to the cooperative members' share capital.
“The pandemic was a turning point for Cresol. We had a 30% increase in our business. The incentive of the agricultural plan and the increase in resources for individuals were our main differentiators. The fact that we are a cooperative system makes one of our great expertise, which is relationships, one of the fundamental pieces for this growth. More than 50% of our positive result was due to the responsibility of managing our people well, of getting to know our customers, our members", says Adriano Michelon, superintendent director of Cresol.
Topics such as ESG and credit in a World Cup year lead to an even more promising year for the cooperative. Adriano believes that in 2022, Cresol will consolidate itself as the third largest cooperative financial institution in Brazil.
Superintendent director Adriano Michelon assesses that the service basket will gain traction in the coming years and foresees an injection of government resources channeled into agriculture, which should stimulate the economy.
Furthermore, the regulatory framework for power generation should boost businesses related to renewable energy, leveraging hundreds of credit lines. In 2021 alone, Cresol granted R$119 million in more than 1400 operations for sustainable enterprises.
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The brand showed its range of products at the fair, including large tracked tractors, such as the 9520 rx model, as well as the 5000 line that serves small, medium and large producers.
