Who we are
The Curacao Federation of Financial Cooperatives, Fekoskan, officially set up in April 1961, was founded by the financial cooperatives (Credit Unions) of Curacao.
Fekoskan, is a cooperative knowledge center and network, for and from our members. Fekoskan contributes to the reinforcement of cooperative entrepreneurship in Curacao.
Fekoskan provides innovative, market-based cooperative business solutions and necessary preparation to cooperatives, youth and women, to empower and help them seize opportunities and overcome the challenges ahead to achieve economic security and a better, longer and healthier quality of life.
Fekoskan is the center of the debate about cooperative enterprises in Curacao. It’s also the place where inspiration takes place and where cooperatives meet and learn from each other. Ardent supporter of the cooperative model, Fekoskan believes in its benefits and operates on behalf of its members through professional development activities and awareness, sustained growth, protecting the movement’s philosophy and values and ensuring safe, sound and efficient cooperative service providers. Thus, it strengthens the cooperative identity, facilitates the advancement of the Curacao cooperative sector and provides the necessary preparation to seize opportunities and overcome the challenges ahead.
In pursuit of its ambitions, Fekoskan performs the following broad function:
Defending and representing the interest of the cooperative sector;
Providing technical and managerial assistance to strengthen and expand the cooperative sector;
Promoting and facilitating technology transfers and expertise;
Conducting promotional and educational campaigns to showcase the cooperative sector achievements and benefits;
Organizing educational conventions and other fora to strengthen leadership, governance and management;
Providing members, directors, management and employees opportunities for skills training with regional and international certification;
Mobilizing financial and technical resources for expanding the sector.
Fekoskan is structured into two (2) primary strategic business units, namely the Fekoskan Association and the Curacao Cooperative Academy Foundation.
On behalf of our member organizations, the Association advocates to achieve a better legislative and regulatory outcome for cooperatives and their members. The mandate of the Association is to project Fekoskan, as the local advocate for the cooperative sector, as a critical stakeholder in social-economic development in Curacao. In this regard, it is responsible for research, marketing, representation, affiliate relations, policy advocacy, legislation and regulation advocacy, training and education, and expanding the Curacao cooperative sector.
The primary responsibility of the Curacao Cooperative Academy Foundation is to foster social and community development through cooperative activities by formulating programs and projects aimed at cooperative education, youth and leadership development.
Whenever practicable Fekoskan seeks to partner with other organizations domestic, regional and international, which have objectives similar to those of Fekoskan for the advancement of the Curacao cooperative sector.
Our vision is to reach a sustainable form of community in which financial cooperatives play a decisive role in the socio-economic, financial and cultural development of the people.
Our mission is to be the representative, policy-defining, advocacy and advisory body for the advancement of the financial cooperative sector in Curaçao.
Fekoskan’s statute offers a range of rules based on true democratic principles based on the 2nd and 4th cooperative principles, democratic control and autonomy and independence, where all member societies have an equal voice in making policies and electing representatives. Fekoskan's Board of Directors and Supervisory Committee are elected freely from among contestants that are nominated by their cooperative society. No sector representative is imposed on the federation. Elections are held annually to fill the vacant seats. All elected Board of Directors and Supervisory Committee members are elected in the interest of all member cooperative societies. Therefore, the Federation guarantees that all the federation’s funds and schemes are controlled democratically and fairly in observance of the 3rd cooperative principle: member economic participation.