Bolivian credit unions are called cooperativas de crédito y ahorro and can be found all over the country, even in small towns where banks have no branch offices. They are very popular because it is easier to open an account and/or qualify for a loan and a savings and loan cooperative than it is at a bank.

Most credit unions are connected to the ATM network in the country and function nearly the same as banks. Not all have websites and most do not enable you to carry out many transactions online. However, their interest rates are higher for both deposits and loans as they typically extend credit to people who may not otherwise qualify for credit at large banks. Loans, of course, also carry higher interest rates.

Be aware of the difference between a utilities coop (water, electricity) and a credit coop (cooperativa de crédito). There are many types of cooperativas (artisans coops, farmers coops, and coops for other industries like mining) in Bolivia, where unions are very strong.

Many offer some of the following services: savings accounts, fixed-term deposits, micro-credit, consumer credit, home mortgages, debit cards, wire transfers, and money exchange. You can also pay many of your bills at credit unions (electricity, water, phone, taxes, etc.) because in Bolivia, utility companies rarely send a bill to your home and when they do, you still have to go to the company, credit unions or banks to pay them.