About

About

MediCoop CFI (“MediCoop”) is a registered Cooperative Financial Institution (Reg. No. 2015/014609/24), regulated by the Prudential Authority under the South African Reserve Bank as a deposit taking institution (Act No. 40 of 2007). MediCoop is a registered and authorised credit provider (NCRCP8712) and is compliant with all the necessary procedures and processes to continue to meet the requirements of the NCR and FIC (ID No. 38406). In line with cooperative principles and its constitution, MediCoop is required to adhere to a set common bond relating to qualification requirements for membership. Shareholders must be members, and MediCoop may only transact with its members.

MediCoop has been formed to meet the needs of the health care professionals and, with an understanding of the medical industry, is geared to provide not only relevant financial and banking services for its members but also familiar investment opportunities to diversify members’ traditional earnings.

Our Vision

Our Vision is to be the leading medical cooperative financial institution in South Africa, owned and controlled by medical professionals based on co-operative principles.

The vision implies an institution whereby capital and cash flows are mobilised from members within the medical profession and outside sources for reinvestment in the health care industry through the deployment of physical, human and social capital

We put the interests and ambitions of our clients and members first. As our clients are our members and our members are our shareholders, they own the bank.

A new way of banking

  • MediCoop membership and shareholding is limited to medical professionals and their associates.
  • We have a simple product portfolio focusing on savings, term deposits, loans, structured finance and managed funds.
  • MediCoop takes a very different approach to banking. Without the overhead and high operational costs of other banks, MediCoop is able to pass considerable savings on to our members, allowing them to save.
  • Encouraging savings by providing a means whereby such savings may receive a competitive rate of return.
  • Investing in health care projects, technologies and business opportunities in South Africa.