The results indicated low efficiency of cooperatives in providing banking services, with 73% of the sample showing inefficiency over each year of the period. In the financial intermediation activity 20 cooperatives were effective over the entire period, and the other cooperatives presented degrees of inefficiency below 16% in every year of the period. As the determinants of efficiency, it was as key determinants in financial intermediation activity: the immobilization, the insolvency, the mismatch liabilities and the administrative expenses, while in activity of providing services the main determinants were the capture by floating and the administrative expenses. The results of efficiency in financial intermediation were considered satisfactory, but the high degree of inefficiency in the provision of banking services warned of the low priority given to the provision of such services and the importance of using two different models for the assessment of efficiency in credit cooperatives, given the unlinked behavior between the two activities evaluated.