Notice revoking the authorization granted to Union de Credito de Hidalgo, S.A. de C.V. to operate as a Credit Union

DOF: 06/12/2023

OFFICE through which the authorization granted to Union de Credito de Hidalgo, S.A. de C.V. to operate as a Credit Union is revoked.

A seal with the National Coat of Arms appears on the margin, which says: United Mexican States.- TREASURY.- Ministry of Finance and Public Credit.- National Banking and Securities Commission.- Legal Vice Presidency.- General Litigation Directorate.- Office: P320 /2023.- File:

CNBV.2C.9.1 Revocation, 212, " 22/05/2023 - 22/05/ 2023 " , REV/310/EF/01.

Subject:

Revocation

of

authorization

to

continue

performing

operations

as

Credit

Union.

UNION

OF

CREDIT

OF

HIDALGO,

S.A.

DE

C.V.

Boulevard

Felipe

Ángeles

S/N,

Km

87.8,

Locales

12,

13

and

14,

Isla

J,

Plaza

Perisur,

Col.

Venta

Prieta,

C.P

42080,

Pachuca

de

Soto,

Hidalgo.

This National Banking and Securities Commission, based on what is provided in articles 97, fraction IV, 99 and 100 of the Credit Unions Law (hereinafter LUC), first paragraph of article 2; 4, fractions I, XI and XXXVIII, 5, 12 fractions V and XV and 16, fractions VI and XVII of the National Banking and Securities Commission Law (hereinafter LCNBV), this Decentralized Body of the Ministry of Finance and Public Credit, has as its objective to supervise and regulate in the scope of its competence the entities that are part of the Mexican financial system, in order to ensure their stability and correct functioning, as well as to maintain and promote the healthy and balanced development of said system as a whole, in protection of the interests of the public, authorize the constitution and operation of those entities that are indicated by the laws and, in its case, agree to the revocation of said authorizations.

In order to comply with said legal provisions, this resolution revoking the authorization to continue operating as a Credit Union is issued, which was at one time granted to the company named UNION DE CREDITO DE HIDALGO, S.A. DE C.V. , (hereinafter Hidalgo, Credit Union, Entity or Society, indistinctly), in accordance with the following:

BACKGROUND

[ ... ]

CONSIDERATIONS

FIRST . COMPETENCE.

Based on what is provided in articles 97 first paragraph, fraction IV of the Credit Unions Law, 2, 4, fractions I, XI, and XXXVIII, 12 fractions V and XV, 16, fractions VI and XVII, of the LCNBV, in accordance with the referred regulations, the National Banking and Securities Commission, as a Decentralized Body of the Ministry of Finance and Public Credit, is authorized to authorize the constitution and operation of credit unions and, in its case, to agree to the revocation of said authorizations.

[ ... ]

Therefore, it is reasonable to conclude that, in accordance with the information available to this Commission, concatenated with the fact that said Credit Union expressly recognized having ceased to perform the operations and activities for which it was authorized, placing itself in the revocation scenario attributed to it, which leads this Commission to the conviction that the cause for revocation for which UNION DE CREDITO DE HIDALGO, S.A. DE C.V. , was summoned, established in article 97 fraction IV of the Credit Unions Law, has been fulfilled.

[ ... ]

RESOLVES

FIRST .

This Decentralized Body, based on what is provided in article 97 fraction IV as well as 99 and 100 of the aforementioned Credit Unions Law and 12, fraction V and XV, of the National Banking and Securities Commission Law and in accordance with the FIFTH AGREEMENT adopted by the Board of Directors of said Commission in its ordinary session held on November 10, 2023 , and to the considerations that were exposed in this resolution,

REVOKES

the authorization for the organization and functioning to operate as a Credit Union to UNION DE CREDITO DE HIDALGO, S.A. DE C.V. ,

SECOND .

From the date of notification of this resolution, UNION DE CREDITO DE HIDALGO, S.A. DE C.V. , is unable to perform operations and will enter a state of dissolution and liquidation, in accordance with what is provided in article 99 of the Credit Unions Law.

THIRD. [ ... ]

FOURTH. [ ... ]

FIFTH. [ ... ]

The foregoing is made known to you based on what is provided in articles 16, fraction VI, and penultimate paragraph, of the National Banking and Securities Commission Law and 14 of the Internal Regulations of the National Banking and Securities Commission, as well as in terms of the FIFTH AGREEMENT adopted by the Board of Directors of said Commission in its ordinary session held on November 10, 2023 .

Thus, the President of the National Banking and Securities Commission provided for this, based on what is established in articles 16, fractions VI and XVII, of the National Banking and Securities Commission Law and signed, in substitution for absence, the Legal Vice President of this Commission, in accordance with what is provided in articles 3, fraction III, second paragraph, 4, fraction I, section A, fraction II, section A, subsection 7), 9, 14 and 60 of the Internal Regulations of the National Banking and Securities Commission.

Respectfully,

Mexico City on November 13, 2023. - Legal Vice President of the National Banking and Securities Commission Lic. Ángel Salvador Vargas Mitre .- Rubric.

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