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Mount of Piety Facing Closure: Impact on Loans and Pawns in Latin America

In recent days, great uncertainty has been generated around the Mount of pietythe institution of loans y pawns oldest in Latin America, since this could say bye soon, so users must be attentive to what will happen to their branch offices in February.

The drop in the number of loans y pawns in it Mount of piety Due to the reduction in users in recent years, they have caused financial unsustainability that could lead to bankruptcy, which is why since 2022 they have had to take measures such as cuts to workers’ benefits, something that has been rejected by the union.

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Given the union’s refusal to reach an agreement with the Mount of piety regarding the collective bargaining contract, it has been indicated that as of 1 February the gradual closure of the branch offices where they are offered loans y pawns.

“The new strike date is set before the court for January 30, 2024, the date on which, if the union does not approve the authority’s mediation proposal, difficult decisions will have to be made aimed at gradually closing the operation. pledge, starting next February 1,” Monte de Piedad reported.

Since 2019, Monte de Piedad has had a 30 percent drop in its loan and pawn services

It is reported that in 2023, the Mount of piety registered an 8 percent drop in its services compared to the previous year, and the decrease in clients has suffered a decrease of 30 percent since 2019. This is why the organization is at risk of saying bye during February after 248 years of offering loans y pawns to the Mexicans.

It should be noted that if you say bye he Mount of pietythis would have a negative impact on the country’s economy, since it is an important source of jobs and tax revenue, likewise, it would affect thousands of families who depend on its services to obtain loans in times of need.

2024-01-28 01:35:07
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