The Institute of the National Fund for Workers’ Consumption (Fonacot) reaffirmed, among other things, the importance of Eliminate the opening fee on all its financial productsas part of a series of improvements designed to benefit workers.
This measure of Fonacot seeks to facilitate access to credit with the best conditions on the market, reinforcing its commitment to offering accessible and competitive products.
So far in 2024, Fonacot has granted more than 1.3 million loans, for a value exceeding 37 billion pesos, benefiting more than one million workers. This figure reflects the positive impact of the institute on the economy of families, by offering financial solutions that allow them to obtain larger amounts at a lower cost.
To increase the reach of its services, Fonacot has signed dissemination agreements with the Confederation of National Chambers of Commerce, Services and Tourism (CONCANACO SERVYTUR) and the College of Accountants Publics of Mexico.
These agreements will make it easier for more people to learn about the benefits of Fonacot loans, which include competitive interest rates and flexible payment options.
Salvador Gazca Herrera, general commercial coordinator of Fonacot, stressed the importance of these alliances by pointing out that workers will be able to access financing without intermediaries or additional costs. He also highlighted that the application process is fast, safe and free, with a significant improvement in credit delivery times.
Fonacot’s strategy is focused on offering loans with a social focus, ensuring that borrowers can choose between different payment terms, according to their needs. With more than 100 branches throughout the country, interested parties can manage their loans quickly, without the need for third parties, by making an appointment on its official portal.
What are Fonacot’s main sources of financing?
Fonacot offers a wide variety of loans designed to support formal workers in Mexico.
Among the most requested is the Cash Creditwhich provides money directly to the beneficiary’s account, with terms of 6 to 30 months, and automatic deductions via payroll. For working women, there is the Effective Woman Creditor, which includes additional benefits such as preferential rates and more flexible conditions.
The institute also offers the Traditional Creditbased on the employee’s salary and seniority, as well as the Travel through Mexico Credit, intended to cover expenses related to travel within the country.
In addition, Fonacot has specific products such as Credit for Victimsaimed at those affected by natural disasters.
These financing options stand out for their competitive rates and the elimination of opening fees, which makes it easier for workers to access financial solutions without intermediaries and with simple procedures, available in more than 100 branches nationwide.
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