Revocation of Operating Authorization for Union de Crédito de los Fundidores y Maquinadores, S.A. de C.V.

DOF: 27/01/2016

OFFICE LETTER revoking the authorization granted to operate to Unión de Crédito de los Fundidores y Maquinadores, S

At the margin, a seal with the National Coat of Arms, which reads: United Mexican States.- Ministry of Finance and Public Credit.- National Banking and Securities Commission.- Legal Vice Presidency.- Office No. P 002/ 2016.

UNION DE CRÉDITO DE LOS FUNDIDORES

AND MACHINISTS, S.A. DE C.V.

Av. 16 de Septiembre No. 730, Suite 1440

Guadalajara Condominium, C.P. 44180,

Guadalajara, Jalisco.

Attention: Mr. Isidro Ignacio Martínez

President of the Board of Directors.

This National Banking and Securities Commission, based on the provisions of articles 97, fraction IV, of the Credit Unions Law and 4, fractions XI and XXXVIII, of the National Banking and Securities Commission Law; as well as in accordance with the Agreements adopted by the Board of Directors of said Commission in its ordinary session held on December 18, 2015, and in order to comply with said legal regulations, issues this resolution revoking the authorization, granted to operate as a credit union, to Unión de Crédito de los Fundidores y Maquinadores, S.A. de C.V., in accordance with the following:

BACKGROUND

1.

By Office No. 601-II-44737, dated November 14, 1985, the former National Banking and Insurance Commission, granted authorization to operate as "Industrial Credit Union of the Foundry and Machining of the State of Jalisco, S.A. de C.V."

Subsequently, by Office No. DRG/5899-93, dated October 7, 1993, the modification of its name was authorized so that it would henceforth operate as "Union de Crédito de los Fundidores y Maquinadores, S.A. de C.V."

2.

By Office No. 132-B/101288/2014, dated June 10, 2014, it was attempted to notify by certified mail to the Union de Crédito de los Fundidores y Maquinadores, S.A. de C.V. various observations regarding the timeliness and quality of information, regarding the delivery of regulatory reports, as well as the capitalization requirements received through the Interinstitutional Information Transfer System (SITI), for the period between April 2009 and November 2013, granting the Entity due process rights, in order for it to manifest what it deemed appropriate. However, as derived from the acknowledgment issued by Correos de México, despite having presented itself up to three times at the indicated address, it was impossible to notify the aforementioned office.

3.

Given the impossibility of notifying the office referred to in the immediate preceding paragraph, on September 25, 2014, personnel from this National Banking and Securities Commission appeared at the address registered by the Entity itself in this Decentralized Body, located at Av. 16 de Septiembre No. 730, Floor 14, Office 1404, Condominio Guadalajara, Juárez Sector, C.P. 44180, Guadalajara, Jalisco; in order to personally notify the content of Office No. 132-B/101288/ 2014, dated June 10, 2014. However, as it was materially impossible to carry out the aforementioned notification diligence, a Statement of Facts was drawn up, in which this impossibility is recorded, as the premises were found closed and without workers inside, in addition to the fact that Mr. Rodolfo Rodríguez González, in his capacity as administrator of Condominio Guadalajara, mentioned that the place had been in those conditions for more than 4 months, refusing to sign the aforementioned Statement of Facts.

4.

On November 20, 2014, personnel from this National Banking and Securities Commission appeared at the address registered by the Entity itself in this Decentralized Body, located at Av. 16 de Septiembre No. 730, Floor 14, Office 1404, Condominio Guadalajara, Juárez Sector, C.P. 44180, Guadalajara, Jalisco; in order to personally notify the content of Office No. 132-B/ 101435/2014, of November 13, 2014, by virtue of which this Decentralized Body summons to revoke the authorization granted to operate as a Credit Union at the time to "Union de Crédito de los Fundidores y Maquinadores, S.A. de C.V."

However, the aforementioned notification diligence proved impossible, as the offices were found vacant, so immediately information was gathered about this situation, asking various people, whose middle name is described in the Statement of Facts drawn up for this purpose, who was working in the office identified with number 1402, of the aforementioned Condominio Guadalajara, who referred that the offices of the Credit Union had been vacant for 3 or 4 months.

5.

Given the above, in view that it was not possible to locate the Union de Crédito de los Fundidores y Maquinadores, S.A. de C.V., at the address registered by the latter with this National Banking and Securities Commission, as derived from the content of the Statements of Facts drawn up on September 25 and November 20, both in the year 2014, and that this Decentralized Body is unaware of the current address of the aforementioned Credit Union, and there is no record of another address of the Entity or representative in national territory, based on the provisions of article 141 of the Credit Unions Law, it proceeded to notify by edicts a summary of Office No. 132-B/101435/2014, dated November 13, 2014, through its publication three consecutive times in a newspaper of national circulation.

6.

The case is that by Office No. 212/65830/2015, dated February 6, 2015, it proceeded to notify by edicts a summary of the summons office identified with No. 132-B/101435/2014, dated November 13, 2014, which were published in the newspaper called El Financiero on Wednesday 18, Thursday 19 and Friday 20 of February 2015, with the express indication that the original of said office is available to the referred Entity in the offices of this National Banking and Securities Commission.

Likewise, in strict compliance with the provisions of the second paragraph of article 141 of the Credit Unions Law, this Commission disseminated on its electronic page on the worldwide network called Internet, the aforementioned Office No. 212/65830/2015, dated February 6, 2015, by virtue of which it notifies by edict the aforementioned summons office for revocation, which as of today is possible to consult.

7.

In strict observance and respect of the due process guarantee established in favor of the "Union de Crédito Fundidores y Maquinadores, S.A. de C.V.", in terms of the provisions of articles 97 and 110, fraction I, of the Credit Unions Law, this Commission granted said Entity a period of 10 business days, counted from the business day following that in which the last publication of the aforementioned edict was made, in the aforementioned newspaper of national circulation, in order to manifest what it deemed appropriate, sending the information and documentation it deems relevant, in order to disprove the cause of revocation attributed to it.

8.

Despite the term granted for the exercise of the due process guarantee established in favor of the referred Entity having expired, this Commission did not receive, nor has it received any communication from the "Union de Crédito Fundidores y Maquinadores, S.A. de C.V.", and much less any document by virtue of which it disproves the cause of revocation in which it is located.

9.

The Board of Directors of the National Banking and Securities Commission, analyzing all and each of the backgrounds referred to in this chapter, in its ordinary session held on December 18, 2015, agreed as follows:

As a result of the above, the legal provisions that support said agreement are referred to below, as well as the motives and reasons by virtue of which it was resolved to revoke the authorization to operate as a Credit Union, which at the time was granted to the entity called "Union de Crédito Fundidores y Maquinadores, S.A. de C.V.", in accordance with the following:

CONSIDERATIONS

FIRST. Based on the provisions of articles 14 and 97 of the Credit Unions Law, in relation to what is established in articles 4, fractions XI and XXXVIII, as well as 12, fractions V and XV, of the National Banking and Securities Commission Law, the Board of Directors of this Decentralized Body is authorized to authorize the constitution and operation of Credit Unions and, if applicable, to agree on the revocation of said authorizations.

SECOND. That the Second Transitory Article of the Decree by which the Credit Unions Law is issued and the General Law of Titles and Credit Operations is added and reformed, published in the Official Gazette of the Federation on August 20, 2008 provides:

"Second.- Chapter III of Title Second of the General Law of Organizations and Auxiliary Credit Activities, published in the Official Gazette of the Federation on January 14, 1985, is repealed, as well as all references in said Law to credit unions.

Credit unions authorized to operate as such in accordance with the provisions that are repealed, shall be deemed authorized to operate under the terms of this Decree.

..."

THIRD. That in terms of the provisions of article 97 of the Credit Unions Law, this Commission, with the agreement of its Board of Directors and after hearing the interested society, may declare the revocation of the authorization granted to credit unions, in the cases referred to therein, among which are those established in fraction IV, which literally states:

"Article 97.- The Commission, with the agreement of its Board of Directors and after hearing the interested society, may declare the revocation of the authorization granted to the unions, in the following cases:

...

IV.

If it carries out operations in contravention to what is provided by this Law or by the provisions emanating from it, or if it abandons or suspends the operations for which it is authorized in terms of article 40 of this Law; ..."

FOURTH. That this Decentralized Body complied with the provisions of articles 97 and 110, fraction I, of the Credit Unions Law, since in strict observance and respect of the due process of the referred Entity, it granted said Credit Union a period of ten business days, counted from the business day following that in which the last publication of the corresponding edict was made in the newspaper of national circulation called "El Financiero", in the terms referred to in the second paragraph, of paragraph 5, of the Chapter of Backgrounds of this Resolution, in order for it to manifest what it deemed appropriate, offer evidence and formulate arguments, in relation to the cause of revocation of its authorization to operate as a Credit Union, in which it was located and which is provided for in fraction IV, of article 97 of the Credit Unions Law.

FIFTH. That from the integral and exhaustive analysis of the content of the documents referred to in the Backgrounds chapter of this Resolution, especially of the Statements of Facts of September 25 and November 20, both of 2014, of the observations office identified with number 132-B/101288/2014, as well as of the summons office and office number 212/65830/2015 by which the notification by edict was made, and given that the "Union de Crédito Fundidores y Maquinadores, S.A. de C.V." did not exercise its due process guarantee, despite having been summoned by edicts in strict observance of what is provided in article 141 of the Credit Unions Law, it is determined that the causes of revocation for which said Entity was summoned subsist.

In effect, from the analysis of the content of Office No. 132-B/111435/2014, dated November 13, 2014, as well as of Office No. 212/65830/2014, dated February 6, 2015, cited in paragraphs 5 and 6 of the Backgrounds chapter of this Resolution, it is derived that this Commission summoned the "Union de Crédito de los Fundidores y Maquinadores, S.A. de C.V."

because:

1.

"CLOSURE OF DOORS AND SUSPENSION OF OPERATIONS

I.1.

By Office number 132-B/101288/2014 dated June 10, 2014 (hereinafter the Office), which is attached to the present as ANNEX 1, issued by the National Banking and Securities Commission, in accordance with the provisions of articles 43, 49 and 50 of the Supervision Regulations of the National Banking and Securities Commission, observations are communicated and due process is granted.

I.2.

Personnel from this Commission went on September 25, 2014, to the address of the Union de Crédito de los Fundidores y Maquinadores, S.A. de C.V., located at Av. 16 de Septiembre No. 730 Floor 14 Office 1404 Condominio Guadalajara, Juárez Sector, C.P. 44180, Guadalajara, in the State of Jalisco, last address of that Society registered in this Commission, since in the files of this Commission, there is no record of notice of change of location of its offices or authorization to change its social address, in order to notify the Office; however, it was observed that the offices of that Credit Union were closed, a situation that was recorded in the circumstance act dated September 25, 2014 which is attached as ANNEX 2, to the present Office.

It should be noted that the Office was returned by the Mexican Postal Service on July 15, 18 and September 2, 2014. Therefore, it is evident that, without prior notice of change of location of its offices or authorization to change its social address, that Credit Union closed its doors and suspended operations, which was verified on September 25, 2014, as well as on July 15 and 18 and September 2, 2014 dates on which, as mentioned, the Mexican Postal Service tried to deliver the Office, as well as by the statement of facts of September 25, 2014.

As a result of the above, that Credit Union closed its doors and suspended operations for more than four months, as stated by the General Administrator of the building where the offices of that Credit Union of the Founders and Machinists, S.A. de C.V. are located, and which is recorded in the aforementioned circumstance act, days that are not provided for in the General Provisions applicable to credit auxiliary organizations, exchange houses, credit unions, limited object financial societies and multiple object financial regulated societies, published in the Official Gazette of the Federation on January 19, 2009 and reformed through Resolutions published in the same Informative Organ on July 1 and 30, 2009, February 18, 2010, February 4, April 11, December 22, 2011, February 3 and June 27, 2012 and January 31, 2013, hereinafter (Provisions) which indicate the days of the year 2014, in which financial entities subject to the supervision of the National Banking and Securities Commission, must close their doors and suspend operations and which this Commission made known through its publication in the Official Gazette of the Federation on December 13, 2013; facts that constitute an infringement of what is established in article 90 of the Credit Unions Law (LUC), which literally provides the following:

"Article 90.- Unions must close their doors and suspend operations on the days indicated by the Commission through general provisions.

The days indicated in the aforementioned terms shall be considered as non-working days for all legal effects."

2.

FINANCIAL INFORMATION

In exercise of said powers, it proceeded to review the timeliness and quality of the information derived from the delivery of regulatory reports as well as the capitalization requirement received from that credit union through the Interinstitutional Information Transfer System (SITI) for the period from April 2009 to November 2011.

2.1.

REGULATORY REPORTS

That Credit Union omitted to deliver in time the financial information related in Appendix 1 and detailed in Table 1, which is part of this office, for the period from April 2009 to November 2011, regarding the regulatory reports referred to in articles 49 and 50, fractions I, a) and b), II in relation to the first three paragraphs of article 57 of the Provisions, which literally establish that:

"Article 49.- Credit unions must provide the Commission with the financial information attached to the present provisions as Annex 10, which is identified with the series and types of reports listed below:

Series R01

Minimum catalog

A-0111

Minimum catalog.

Series R04

Credit portfolio

C-0411

Disaggregation of commercial credits.

Series R08

Collection

D-0811

Disaggregation of loans and member deposits.

D-0812

Disaggregation of bank loans and from other organizations.

Series R10

Reclassifications

A-1011

Reclassifications in the balance sheet.

A-1012

Reclassifications in the income statement.

Series R13

Financial statements

A-1311

Statement of changes in equity capital.

A-1312

Statement of changes in financial situation.

B-1321

Balance sheet.

B-1322

Income statement.

Series R14

Qualitative information

A-1411

Disaggregation of shareholding integration.

B-1413

Number of members, employees and branches".

"Article 50.- Credit unions will present the information referred to in article 49 above, with the following periodicity:

I.

Monthly:

a)

The information related to series R10, R13, exclusively with respect to reports B-1321 and B-1322, and R14, exclusively with respect to report B-1413, within the month immediately following that of its date.

In addition, reports B-1321 and B-1322 of series R13 must be sent printed duly signed at least by the general director, the general accountant, and if applicable, by the financial controller and the internal auditor, or their equivalents, to the Chief Information Supervisor of the Commission, within the month immediately following.

The foregoing, without prejudice to the obligation that Financial Entities have to send said reports in accordance with what is stated in article 57 of these provisions.

b)

The information referred to in series R01, which must be provided within fifteen days of the month immediately following that of its date.

II.

Quarterly, the information referred to in series R04, R08, R13, exclusively with respect to reports A-1311 and A-1312, as well as R14, exclusively with respect to report A-1411. Said information must be provided within the month immediately following that of its date, which will correspond to the closing of the months of March, June, September and December of each year".

"Article 57.- Financial Entities must send to the Commission the information mentioned in articles 43, 45, 47, 49, 51, 53, 71 and 75 of these provisions, as applicable, through electronic transmission using SITI.

The information must be sent only once and will be received assuming it meets all the required characteristics, by virtue of which it cannot be modified, generating an electronic receipt from SITI.

Once the information is received, it will be reviewed and if it does not meet the required quality and characteristics or is presented incomplete, the obligation of its presentation will be considered unfulfilled".

2.2.

REPORTS RELATING TO THE CAPITALIZATION REQUIREMENT

That Society omitted to deliver in time the financial information related in the cited Appendix 1 and detailed in Table 1, for the period from April 2009 to November 2011, relating to the capitalization requirement "R21-A Capitalization Requirements" as established by article 81 of the Provisions. With the above, that Credit Union probably departs from compliance with article 78 of the LUC in the sense that credit unions must present the information and documentation that, within their competence, the National Banking and Securities Commission requests from them, within the deadlines established by it; in concordance with article 81 of the Provisions which states that:

"Article 81.- Credit unions must monthly compute the capitalization requirements, which must be sent to the Commission within 30 days following the date of said computation. The capital requirements and net capital will be determined based on balances at the end of the month in question".

Based on the above, and since that Credit Union omitted to deliver in time the financial information to this Commission through the Interinstitutional Information Transfer System (SITI), the information corresponding to the regulatory reports for the period from April 2009 to November 2011, as observed in paragraphs 2.1 and 2.2 of this Office and added to the fact referred to in paragraph 1. of this same Office, consisting of the fact that the doors of the offices, located at the last address of that Society registered in this Commission were closed and no person was found in them, a fact that was verified during the days 15 and 18 of July of the present year, as well as on September 2 and 25, 2014, it is presumed that said Society abandoned or suspended the operations for which it is authorized, consequently it is located in the cause of revocation provided for in fraction IV, of article 97 of the LUC, which for greater reference is transcribed:

"Article 97.- The Commission, with the agreement of its Board of Directors and after hearing the interested society, may declare the revocation of the authorization granted to the unions, in the following cases:

I.

...

II.

...

III.

...

IV.

If it carries out operations in contravention to what is provided by this Law or by the provisions emanating from it, or if it abandons or suspends the operations for which it is authorized in terms of article 40 of this Law ..."

To this effect, as has been referred to above, in view that it was not possible to locate the Union de Crédito de los Fundidores y Maquinadores, S.A. de C.V., at the address registered by the latter with this

National Banking and Securities Commission, as derived from the content of the Fact Records drawn up on September 25 and November 20, both in the year 2014, and which this Decentralized Body does not recognize as the current address of the aforementioned Credit Union, based on what is provided in Article 141 of the Credit Unions Law, proceeded to notify by edicts a summary of Office No. 132-B/101435/2014, dated November 13, 2014, by publishing it three consecutive times in a newspaper of national circulation, in this case, in the newspaper named El Financiero on Wednesday the 18th, Thursday the 19th, and Friday the 20th of February 2015, with the express indication that the original of the aforementioned office is available to the aforementioned Entity at the offices of this National Banking and Securities Commission.

Likewise, in strict compliance with what is provided in the second paragraph of Article 141 of the Credit Unions Law, this Commission disseminated on its electronic page on the worldwide network known as the Internet, the aforementioned office number 212/65830/2015, of February 6, 2015, by virtue of which it proceeded to notify by edicts a summary of the office summoning for revocation, which at this date is possible to consult.

Having done the above, in strict observance and respect of the hearing guarantee established in favor of the "Union de Credito Fundidores y Maquinadores, S.A. de C.V.", in terms of what is provided in Articles 97 and 110, fraction I, of the Credit Unions Law, this Commission granted said Entity a term of 10 business days, counted from the day following that in which the last publication of the aforementioned edict was made in the aforementioned newspaper of national circulation, in order that it manifest what it deemed appropriate for its rights, sending the information and documentation it deems relevant, in order to disprove the grounds for revocation attributed to it.

Notwithstanding that the term granted for the exercise of the hearing guarantee established in favor of the aforementioned Entity has elapsed in excess, which ran from February 23 to March 6 of the current year, this Commission has not received, nor has it received any communication from the "Union de Credito Fundidores y Maquinadores, S.A. de C.V.", and much less any document by virtue of which it could disprove the ground for revocation in which it is located.

SIXTH.- In attention to the content of the documents referred to in the chapter of Antecedents of this resolution, especially of the Fact Records of September 25 and November 20, both of 2014, of the observation office identified with number 132-B/101288/2014, as well as of the summoning office for revocation number 132-B/101435/2014 notified by edicts, in addition to the corresponding publications in the newspaper named El Financiero on Wednesday the 18th, Thursday the 19th, and Friday the 20th of February 2015, it is resolved as follows:

Based on what is provided in Articles 129 and 130 of the Federal Code of Civil Procedures, supplementary application to the matter, in terms of what is established in the last paragraph of Article 108 of the Credit Unions Law, and given the nature of public documentary evidence, full probative value is granted to the documentary consisting of the observation office identified with number 132-B/101288/2014. In the same way, probative value is granted to the fact records of September 25 and November 20, both of 2014, from whose content it is derived that the aforementioned Entity, without prior notice of change of location of its offices or authorization to change its social address, abandoned its operations.

In the same way, in terms of what is established in Articles 129 and 130 of the Federal Code of Civil Procedures, of supplementary application to the matter, in terms of what is established in the last paragraph of Article 108 of the Credit Unions Law, full probative value is granted to the public documents consisting of the summoning office for revocation identified with number 132-B/101435/2014 and in office number 212/65830/2015 by which it proceeded to notify by edicts to "Union de Credito Fundidores y Maquinadores, S.A. de C.V.", and to the publications made in the newspaper named El Financiero on Wednesday the 18th, Thursday the 19th, and Friday the 20th of February 2015, from which it is accredited that this National Banking and Securities Commission carried out all the acts that were legally necessary in order to carry out the legal summons of "Union de Credito Fundidores y Maquinadores, S.A. de C.V.", to the procedure for revocation of the authorization to operate with such character that was granted to it at that time.

Now well, notwithstanding that the term granted for the exercise of the hearing guarantee established in favor of the aforementioned Entity has elapsed in excess, which ran from February 23 to March 6 of the current year, this Commission has not received, nor has it received any communication from the "Union de Credito Fundidores y Maquinadores, S.A. de C.V.", and much less any document by virtue of which it could disprove the ground for revocation in which it is located, what is provided in Article 108 of the aforementioned normative body applies, which says: "In the administrative procedures provided for in this Law, relevant evidence will be admitted with the acts subject to the procedure as long as they are offered within the term of the hearing guarantee...". (Emphasis added)

If the above is not sufficient, it is necessary to make patent that in fraction II, of Article 110 of the Credit Unions Law, it is established that in the event that the Entity does not make use of its right of hearing, within the term granted for such effect, the imputed infractions will be considered proven and the corresponding administrative sanction will be imposed, legal device which for prompt reference is referred to below:

"Article 110.- The Commission, in the imposition of administrative sanctions referred to in this law, will be subject to the following:

...

II. In case that the alleged infringer does not make use of the right of hearing referred to in the previous fraction, within the term granted or well, having exercised it, it fails to dispel the imputations made against it, the imputed infractions will be considered proven and the corresponding administrative sanction will be imposed, and

..."

Seeing its content, and since in the case that occupies us the circumstance provided for in said legal provision is actualized, it becomes appropriate to affirm that having elapsed the term of the summons, as has been referred to on various occasions, without having received any communication by virtue of which the "Union de Credito Fundidores y Maquinadores, S.A. de C.V." made any manifestation or allegation or offered information or documentation by virtue of which the aforementioned Credit Union intended to disprove the ground for revocation for which it was summoned, this Decentralized Body accepts the facts imputed and, therefore, the ground for revocation for which it was summoned.

Thus, having actualized and proven the infraction that is imputed to the "Union de Credito Fundidores y Maquinadores, S.A. de C.V.", it is appropriate to revoke its authorization to operate as a credit union. What is held in the following criterion applies to the above:

Era: Ninth Era

Registry: 185049

Instance: Circuit Collegiate Courts

Type of Thesis: Isolated

Source: Judicial Weekly of the Federation and its Gacette

Volume XVII, January 2003

Subject(s): Administrative

Thesis: XIV.2o.71 A

Page: 1868

ADMINISTRATIVE SANCTION. ONCE THE INFRACTION IS ACTUALIZED THE AUTHORITY IS OBLIGED TO IMPOSE IT, SINCE IT DOES NOT HAVE DISCRETION IN THIS REGARD.

There is only discretion when the law grants the authority a wide field of appreciation to decide when and how it must act, or even to freely determine the content of its possible action, from which it is concluded that the authority does not enjoy discretionary powers regarding infractions to the law, since once actualized it is legally obliged to impose the corresponding sanction, since, acting contrary, impunity would be generated by leaving to its arbitrium to determine if the governed must comply or not with the legal imperatives, which is legally inadmissible.

SECOND CIRCOLLEGATE TRIBUNAL OF THE FOURTEENTH CIRCUIT.

Direct Amparo 191/2002. Joaquín Pacheco Medina. May 31, 2002. Unanimity of votes. Reporter: Alfonso Gabriel García Lanz, secretary of the tribunal authorized by the Judicial Career Commission of the Federal Judiciary Council to perform the functions of Magistrate. Secretary: Leticia Evelyn Córdova Ceballos.

For all the above expressed beforehand, this Decentralized Body concludes that the "Union de Credito Fundidores y Maquinadores, S.A. de C.V."

illegitimately closed its offices, located at the last address of that Society registered in this Commission, from which it is concluded that that Society abandoned the operations for which it is authorized; then, it is located in the ground for revocation provided for in fraction IV, of Article 97 of the Credit Unions Law, which for greater reference is transcribed:

"Article 97.- The Commission, with the agreement of its Board of Government and prior hearing of the interested society, may declare the revocation of the authorization granted to the unions, in the following cases:

I.

...

II.

...

III.

...

IV.

If it carries out operations in contravention of what is provided by this Law or by the provisions emanating from it, or if it abandons or suspends the operations for which it is authorized in terms of Article 40 of this Law...".

..."

This is corroborated by the fact that since April 2009 it has omitted to deliver to this National Banking and Securities Commission the financial information corresponding to the regulatory reports under its charge through the Interinstitutional System for Information Transfer (SITI).

Based on the above, the National Banking and Securities Commission, prior agreement of its Board of Government in its ordinary session held on December 18, 2015:

RESOLVES

FIRST.- This Decentralized Body, based on what is provided in Articles 97, fraction IV, of the Credit Unions Law; 4, fractions XI and XXXVIII and 12, fractions V and XV, of the Law of the National Banking and Securities Commission; and in accordance with the Eighteenth Agreement, adopted by the Board of Government of said Commission in its ordinary session held on December 18, 2015, and to the considerations that were expressed in this Resolution, revokes the authorization to operate as a Credit Union, granted to the "Union de Credito Fundidores y Maquinadores, S.A. de C.V.", through Office No. No. 601-II-44737, of November 14, 1985.

SECOND.- From the date of notification of this Resolution, "Union de Credito Fundidores y Maquinadores, S.A. de C.V.", is unable to carry out operations and will be placed in a state of dissolution and liquidation, without the need for the agreement of the shareholders' assembly of that Society, in accordance with what is provided in Articles 99 and 100 of the Credit Unions Law.

THIRD.- Based on what is provided in Articles 78 of the Credit Unions Law and 19 of the Law of the National Banking and Securities Commission, "Union de Credito Fundidores y Maquinadores, S.A. de C.V." must prove before this Commission, within the term of 60 business days subsequent to the publication of this Resolution in the Official Gazette of the Federation, that the designation of the corresponding liquidator was carried out in accordance with what is established in Article 100, fraction I, of the aforementioned Law; in case of failure, this Decentralized Body will promote before the competent judicial authority to designate the liquidator and if it finds impossibility to carry out said liquidation, to order the cancellation of its registration in the corresponding Public Commerce Register, in accordance with what is established in Articles 100, fraction II and 102, of the Credit Unions Law.

FOURTH.- Notify this Resolution to "Union de Credito Fundidores y Maquinadores, S.A. de C.V."

FIFTH.- Based on Article 99 of the Credit Unions Law, register in the corresponding Public Commerce Register and publish in the Official Gazette of the Federation this Office.

SIXTH.- Based on what is established in Article 16, fraction VI, and penultimate paragraph, of the Law of the National Banking and Securities Commission, in relation to what is provided in Articles 4, 9 and 12 of the Internal Regulations of the National Banking and Securities Commission, published in the Official Gazette of the Federation on November 12, 2014; 6, last paragraph, and 29, fraction I, subsection 2), of the Agreement by which the President of the National Banking and Securities Commission delegates powers to the Vice Presidents, General Directors, Assistant General Directors of said Commission, made known in said Official Gazette on November 30, 2015, it is delegated indistinctly in the public servants of this Commission, Karla Patricia Montoya Gutiérrez, Josué Martínez Rocha, María Isabel Almaráz Guzmán, Ivonne Marcela López Franco, Angel Jonathan García Romo, Jesús Aarón Ruiz Zapata, Tania Patricia Morales Reyes, José Luis García González, Luis Antonio Rodríguez Rodríguez, Alfredo Omar Morlan Fernández, José Alberto Jiménez Rosales, Alberto Erick Mendez Medina, Saúl Hernández Pérez and Rogelio García Martínez, the charge of notifying, jointly or separately, this Office by which compliance is given to the agreement adopted by the Board of Government of said Commission.

The above, it is made known by the President of the National Banking and Securities Commission, in accordance with what is provided in Articles 16, fraction VI, and penultimate paragraph, of the Law of the National Banking and Securities Commission and 12 of the Internal Regulations of the National Banking and Securities Commission, as well as in terms of the agreement adopted by the Board of Government of said Commission in its ordinary session held on December 18, 2015.

Respectfully

Mexico, Federal District, January 7, 2016.- The President, Jaime González Aguadé.- Rubric.

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Exchange Rate and Rates as of 31/08/2026

DOLLAR

17.0427 UDIS

8.810483 TIIE 28 DAYS

6.7659% TIIE 91 DAYS

6.8033% TIIE 182 DAYS

6.8577% TIIE DE FONDEO

6.51%

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SURVEYS

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Official Gazette of the Federation

Río Amazonas No. 62, Col. Cuauhtémoc, C.P. 06500, Mexico City Tel. (55) 5093-3200, where you can access our service menu

Electronic address: dof.gob.mx

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