EconomyFinancialLibertad overcame its challenges, says Silvia Lavalle, its President...

Libertad overcame its challenges, says Silvia Lavalle, its President of the Council

Libertad Soluciones de Vida (LSV) is a Popular Financial Company (SOFIPO) that was born 62 years ago in the form of Caja Popular Libertad. With an open commitment to the popular sector and true financial inclusion, it has become the number one SOFIPO in the country.

Below is the experience in the voice of Silvia Lavalle, president of the Board of Directors of Libertad Soluciones de Vida.

The company has had to face not one but several adversities, more than most institutions in the sector. In a narrative voice, she talks: they have been difficult years, with various adversities that we have had to go through, but I would summarize them in three:

The media crisis derived from the arrest of the former president of the Freedom Council. Situation that unsettled a part of our savers, who, faced with the torrent of malicious information, became concerned; however, with transparent communication your loyalty continues with us; I am even proud to say that we exceeded savers’ deposits, compared to what we had before the crisis.

Second, the unpredictable pandemic that affected not only the economy of the country, but that of the world; no one was prepared for it.

And, finally, we had to receive and attend to some recommendations from the authority that led us to establish a Capital Restoration Plan that we had to execute on time to return to our capitalization level (NICAP).

How to face adversity

In the media crisis, we implemented several open and frank communication campaigns with clients and followers, sharing our reality with them along with the plans to follow. This with actions in mass media, digital and facing the customer.

In the face of the pandemic, I would highlight the acceleration of our digitalization processes to offer remote alternatives with easy, safe and reliable operations for our clients, a debt restructuring plan and work-from-home processes to take care of the health and economy of clients and collaborators.

Finally, to return to our NICAP, we executed the Capital Restoration Plan that you mentioned, starting it up with titanic efforts, thanks to a disciplined, united and focused team, with great commitment.

In this way, we streamlined the strategies to generate higher income, reduced operating expenses by almost 34% at great sacrifice, and obtained capital injections from shareholders.

Obtaining greater solidity

Of course, these actions have not only served, but have been a success. Today we have a much stronger institution, more united and with the trust of the vast majority of our clients.

We can already say that our NICAP is greater than 131%, which makes clear the synergy achieved between collaborators, clients and the company. I will not tire of saying that in Libertad we are people helping people. To our almost 2,000 collaborators, shareholders and clients I say the following: thanks for the trust, we achieved it together and we are stronger than ever.

It would be impossible in this space to comment on all the actions on all fronts, but I can say that we succeeded based on three pillars: strategy, commitment and loyalty.

A thoughtful, ambitious and flexible strategy for the benefit of our clients. Executed to perfection by our people, a team of people with talent, experience and clear objectives, but, above all, with a firm commitment to the institution.

And most importantly: the loyalty of the best clientele in the sector, who believed in this company that has accompanied them for several generations.

The vision for the future

Very good, revolutionary, innovative and disruptive things are coming. We face the future with enthusiasm and emotion.

Our short and medium-term plans include making large investments that allow us to continue and strengthen our digital transformation, to be where customers need us, generating tools that strengthen financial inclusion in Mexico, supporting individuals and SMEs.

Today as 60 years ago we want to offer answers that allow our clients to free themselves from abuse and fraud. We want to provide them with true life solutions.

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