What is External Circular No. 75 about?

On January 28, 2025, the Superintendency of the Solidarity Economy issued External Circular No. 75, a key instruction addressed to savings and credit, multi-activity and integral cooperatives with a financial section. Its purpose is clear: to strengthen good cooperative governance and risk management through the creation of the Technical Advisory Committee of the Board of Directors.

This measure responds to worrisome findings: 100% of the cooperatives intervened due to financial or administrative problems showed deficiencies in corporate governance, credit risk or corruption.

🧩 What does this new standard require?

1. Voluntary creation of the Technical Consultative Committee.

Although not mandatory, the creation of the Committee is strongly recommended as a technical support mechanism for boards of directors. This committee:

• Acts as an advisory and independent body.
• It has no management or representative powers.
• It must be composed of at least 3 independent members of the cooperative.

2. Profile of members

The members must have

• Professional degree.
• At least 4 years of experience in risk management, strategic planning or corporate governance.
• Be appointed by the Assembly or the Board of Directors, in accordance with the bylaws.

3. Key functions of the committee

Cooperatives that implement the Committee must compulsorily consult it before making strategic decisions such as:

• Defining risk appetite.
• Approving capital investments.
• Mergers, alliances or asset transfers.
• Launching new products or lines of business.
• Acquire real estate that impacts liquidity or solvency.

In addition, the Board may deviate from the Committee’s recommendations, but must justify its decision in minutes.

🔍 Analysis: why is this measure important?

✔️ Advantages

• Improves decision-making on strategic issues.
• Strengthens transparency and accountability.
• Reduces operational and reputational risk.
• Promotes a strong corporate governance culture.

⚠️ Challenges

• Small cooperatives should adapt their bylaws and regulations.
• It is necessary to train and sensitize boards of directors on the role of the committee.
• Guild articulation is required to facilitate adoption through shared centers.

Circular 75 marks a firm step towards a more technical, preventive and collaborative governance model for financial cooperatives in Colombia. Implementing a Technical Advisory Committee is not only a good practice: it is an investment in sustainability, trust and long-term projection.

🛠️ Shared Services Centers: a collaborative option

For cooperatives with less technical or financial capacity, the Circular allows the implementation of the Co-Party Committee. This promotes cooperation between entities, improves access to specialized advice and reduces structural gaps in the sector.

🚀 How can Shareppy help you?

At Shareppy we accompany cooperatives in digital transformation and institutional strengthening processes. Our Smart Road and Digital Credit platforms allow:

• Automate critical credit and portfolio processes.
• Improve internal control.
• Integrate risk decisions with real-time data.

📩 Contact us:
👉 www.shareppyinternacional.com
📱 Write to us at WhatsApp: +57 324 296 5208
📧 contacto@shareppyinternacional.com

🔐 With Shareppy, your cooperative evolves with security, efficiency and strategic vision.