If you’re a retired American living in Cuenca and had money with Cooperativa CREA, there’s something important you need to understand:
Your unclaimed funds could be permanently lost—unless you take the right steps now.
What Is happening to Cooperativa CREA?
Earlier this year, Ecuador’s financial authorities ordered the forced liquidation of Cooperativa de Ahorro y Crédito CREA Ltda., triggering a process that has affected thousands of account holders—including many foreign.
As part of this liquidation, the cooperative’s assets have already been transferred to other financial institutions to begin refunding depositors. The Deposit Insurance Corporation (COSEDE) is also involved, offering up to $32,000 in insured coverage per person.
But here’s the critical issue:
Not all clients were included in the repayment process. Many foreign residents were never notified, and some were left out of the automatic reimbursements altogether.
According to Articles 316 and 317 of Ecuador’s Organic Monetary and Financial Code, any funds that go unclaimed during the liquidation process can legally be redirected—first to pay the cooperative’s debts, and eventually, to the Ecuadorian State.
Once that happens, your right to recover your money disappears—permanently. This isn’t a warning—it’s the law.
You may assume that if the process is happening through official channels, everything is being handled. But if your claim was not properly filed or validated, your funds may never be released—regardless of how long you’ve banked with CREA or how much money you had on deposit.
And if you weren’t contacted or don’t know where your case stands, the system won’t follow up with you. You must take the initiative.
Recovering your savings is possible—but only if the claim is made on time, with complete documentation, and in accordance with Ecuadorian financial law. This is where qualified legal support becomes critical—not to sell you a service, but to ensure you are not forgotten or left behind.
If you had accounts or certificates of deposit with Cooperativa CREA and haven’t received official notice, confirmation of your reimbursement, or your funds, you are running out of time to act.
Contact Attorney Sabrina Candela today. She and her team are committed to assisting you with care, efficiency, and urgency—so you can recover what is rightfully yours before it’s too late.
Att. Sabrina Candela
candelacerras@gmail.com
Cel: 093 906 2758
City: Cuenca
