The Savings and Credit Cooperative "Juventud Ecuatoriana Progresista" Ltd., (JEP) is an entity dedicated to the social finance. It was created through the Ministerial agreement 3310, on December 31, 1971 and it was qualified by the Superintendency of Banks and Insurance with resolution SBS-2003 – 059, on August 12, 2003.
Nowadays, it has more than half a million owners-partners of the cooperative. Approximately, 70% of them are women linked to different micro-productive activities, both in the rural sectors, such as urban fringe.
It was created in the parish of Sayausi of the canton Cuenca, province of Azuay from the Republic of Ecuador with 29 young people initiative. It has dabbled in a sustained credit support to population segments that do not have access to credit from the traditional banking, which has stimulated the acceptance and trust of people, reaching the first place in the Ranking of the Ecuadorian cooperatives and currently it has 43 agencies in: Azuay, Guayas, Pichincha, Cañar, El Oro, Loja, Los Rios, Santa Elena, Santo Domingo de los Tsáchilas, and Morona Santiago.
- On December 31, 1971, JEP obtained legal personality.
- From August 10, 2003, it is under the Control of the Superintendency of banking and insurance.
- In 2007, date from which it is the largest cooperative in Ecuador.
- From 2013, it is controlled by the Superintendency of Popular and Solidary Economy.