Coop Manati

What Coop Manati does

Coop Manati (Cooperativa de Ahorro y Crédito de Manatí) is a member-owned credit union founded in 1948 and headquartered in Manatí, Puerto Rico. It provides a full suite of retail and commercial banking products including savings accounts (Cuenta de Ahorros, Cuenta de Acciones, Vera Coop, Xmas Coop), certificates of deposit, personal and commercial loans (up to $50,000 and $1,500,000 respectively), auto financing, residential mortgages (including Ley 87 FHA Boricua, Conventional, and MGIC-insured programs), and a credit card portfolio issued on Visa and Mastercard networks (Standard, Gold, Business, and Estudiantil Student variants). Member deposits are insured by COSSEC up to $250,000, and the cooperative returns earnings to members through dividends, patronage refunds, bundled life and funeral insurance, and member-only benefits such as student scholarships and the Club Pinos de Otoño senior program.

The institution operates a 7-branch physical network spanning Manatí, Vega Baja, Barceloneta, and Ciales, augmented by a Centro Hipotecario y Comercial and two ATM locations. Digital channels include the Coop Manatí en Línea online banking platform and the Coop Manatí Móvil mobile application (iOS and Android), the latter offering Foto Depósito Móvil remote check deposit, ATH card activation/deactivation, transfers, and statement downloads. The credit union also participates in the CO-OP Shared Branch and Coop24 ATM networks for expanded member accessibility.

Coop Manati's revenue model is built primarily on net interest income from lending (personal, auto, mortgage, commercial, and credit card), supplemented by transaction fees (wire transfers, official checks, Western Union money orders, vehicle tags, traffic fines, Auto Expreso payments) and interest spreads on certificates of deposit. As a cooperative, the institution is governed by a member-elected Junta de Directores and a Presidente Ejecutivo (CEO Candido Rivera), with no external shareholders; profits are returned to members rather than distributed as equity returns.

Name

Coop Manati

Legal name

Coop Manati

Website

https://coopmanati.com

Company type

Private

Founded year

1948

Operating status

Operating

Headcount range

101–250 employees

Short description

Coop Manati is a member-owned Puerto Rico credit union founded in 1948, offering savings, loans, mortgages, credit cards, and digital banking to individual and commercial members across four municipalities in northern Puerto Rico.

Ownership category

akta.pro rank

Product category

Credit Union Services

NAICS

Credit Unions (52213), Credit Unions (522130)

SIC

Personal Credit Institutions (6141), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Military & Veterans Credit Unions (FSABAEAI)

Keywords

• Credit union services
• Cooperative banking
• Consumer lending
• Mortgage financing
• Retail deposits

Headquarters

HQ city

Puerto Rico

HQ country

Argentina

HQ region

Latin America

Offices8 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Interest Income from Lending: Primary revenue stream from interest charged on personal loans, mortgages, auto loans, commercial loans, and credit cards. The cooperative model returns earnings to members through lower lending rates and higher savings rates rather than distributing to shareholders.
2. Fee-based Services: Various service fees including discount nominal (nominal discount), wire transfers, official check sales, Western Union money orders, vehicle tags/stamps, traffic fines payment, Auto Expreso payments, and other banking services.
3. Certificate of Deposit Products: Certificate of Deposit accounts with minimum $500 opening, generating revenue through interest rate spreads on savings products.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

Coop Manatí is a member-owned credit union cooperative headquartered in Manatí, Puerto Rico, offering a full suite of personal and commercial financial services including savings accounts, share accounts, vacation and Christmas savings plans, certificates of deposit, personal and commercial loans, revolving credit lines, mortgage financing, auto financing, and Visa/Mastercard consumer and business credit cards, delivered through seven physical branches and digital banking channels.

Product overview

Coop Manati is a credit union (Cooperativa de Ahorro y Crédito de Manatí) offering a comprehensive suite of financial products and services. The core offerings include savings accounts (Cuenta de Ahorros, Cuenta de Ahorros Max, Cuenta de Acciones), certificates of deposit, and personal and commercial loans. The cooperative provides multiple credit card options through Visa and Mastercard networks including standard, Gold, Business, and Student variants. Mortgage financing covers residential, construction, land purchase, and refinancing needs. Vehicle financing is available for new and used automobiles. Digital banking access is provided through Coop Manatí en Línea (online banking) and Coop Manatí Móvil (mobile banking) with mobile check deposit capabilities. Additional services include financial calculators, student scholarships, and senior member clubs. All deposits are insured by COSSEC up to $250,000.

Differentiator

Problem solved

Functional benefit

Products and services

• Cuenta de Ahorros (Savings Account) Personal savings account that pays dividends to individual members, providing a foundational deposit product for personal banking at Coop Manatí.
• Cuenta de Ahorros Max (Youth Savings) Savings account tailored for members under 18 years old, marketed as "Abre tu futuro" to help youth build financial habits and ownership in the cooperative.
• Cuenta de Acciones (Share Account) Membership share account that confers ownership rights in the cooperative, granting the holder voting rights in assemblies and access to patronage refunds.
• Vera Coop (Vacation Savings) Targeted vacation savings account enabling members to systematically set aside funds for vacation expenses.
• Xmas Coop (Christmas Savings) Seasonal Christmas savings account that allows members to build holiday funds throughout the year for end-of-year expenses.
• Certificado de Depósito (Certificate of Deposit) Term deposit product that offers members a competitive fixed interest rate for funds committed over a specified period.
• Cuenta Comercial (Commercial Checking) Business checking account designed for commercial members and small business owners operating in Puerto Rico.
• Préstamo Personal (Personal Loan) Unsecured personal installment loan offered to individual members for general personal financing needs.
• Préstamo Colateral (Collateral Loan) Personal loan secured by collateral, allowing members to access financing on more favorable terms against pledged assets.
• Línea de Crédito Servi Coop (Revolving Credit Line) Revolving personal line of credit product that gives individual members flexible ongoing access to funds, repayable and reusable as balance is paid down.
• Préstamos Comerciales (Commercial Loans) Commercial installment loans extended to business members to finance business operations and growth initiatives.
• Línea de Crédito Comercial (Commercial Line of Credit) Revolving commercial line of credit providing business members flexible, ongoing access to working capital.
• Visa Credit Card Consumer credit card on the Visa network with FALCON fraud monitoring and member-focused benefits.
• Mastercard Standard Credit Card Consumer Mastercard credit card in the Standard tier offered to individual Coop Manatí members.
• Mastercard Gold Credit Card Premium-tier consumer Mastercard Gold credit card with enhanced travel and purchase protection benefits.
• Mastercard Estudiantil (Student Credit Card) Student-targeted Mastercard credit card offering Global Service and Mastercard Travel Benefits for young members.
• Mastercard Business (Business Credit Card) Mastercard-branded business credit card issued to commercial members for business-related expenditures.
• Financiamiento Hipotecario (Mortgage Financing) Mortgage financing product delivered through the Centro Hipotecario, covering home purchase, construction, refinancing, and FHA-style Ley 87 programs.
• Financiamiento de Auto (Auto Financing) Auto loan product enabling members to finance vehicle purchases with a 60-second pre-qualification process.
• Coop Manatí en Línea (Online Banking) Web-based online banking platform that provides members 24/7 account access, transfers, bill payments, and account inquiries.
• Coop Manatí Móvil (Mobile Banking App) Native mobile banking application for iOS and Android offering on-the-go access to account management, transfers, and payments.
• Propiedades Reposeídas (REO Property Sales) Sales listings of repossessed (REO) real estate properties acquired through lending activities, offered by Coop Manatí for sale.

Quantifiable outcome

• Life insurance coverage up to $5,000 matching account balance for natural death, doubling for accidental death
• +2 more outcomes

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration12 records

Feature3 records

Partnerships

Six partnerships are on record, tiered core and minor.

• COSSEC (Corporación de Seguro de Depósitos de Cooperativas)coreOthersCOSSEC provides deposit insurance for Coop Manati members' funds up to $250,000, comparable to FDIC/NCUA insurance for banks and credit unions. This is a regulatory requirement for all Puerto Rico credit unions.
• Banco Cooperativo de Puerto RicocoreTechnology or IntegrationReferenced as the issuing bank for Coop Manati's credit card products including Visa and Mastercard lines. Provides the underlying card infrastructure and processing network.
• CO-OP Shared Branch NetworkminorChannel Partner/ Reseller/ DistributorNetwork partnership enabling Coop Manati members to access branch services at other credit unions nationwide, and allowing members of other credit unions to access services at Coop Manati branches.
• Coop24 NetworkminorChannel Partner/ Reseller/ DistributorATM network partnership providing Coop Manati members with free transactions at credit union ATMs in the Coop24 network across Puerto Rico.
• VisacoreTechnology or IntegrationVisa provides the payment network infrastructure for Coop Manati's Visa credit card products, including fraud monitoring (FALCON Fraud Manager), travel assistance services, and global payment processing.
• MastercardcoreTechnology or IntegrationMastercard provides the payment network infrastructure for Coop Manati's Mastercard credit card products (Standard, Gold, and Student), including Global Service emergency assistance, insurance programs (MasterSeguro), and purchase protection.

Scale indicators3 records

Recent moves5 records

Expansion highlights6 records

Direct peers

• Banco Cooperativo de Puerto Rico: Wholesale credit union for Puerto Rico cooperatives and acts as issuing bank for Coop Manati's credit card products. Direct counterpart in the cooperative banking ecosystem serving the same Puerto Rico market with similar membership-driven model.
• BECU: Washington-state based credit union serving a defined membership community with full consumer and mortgage products. Comparable community-anchored cooperative model with strong digital banking investments; useful benchmark for Coop Manati's digital trajectory.
• Golden 1 Credit Union: California-based community credit union offering consumer banking, mortgages, auto loans, and credit cards. Similar member-owned cooperative structure with comparable product mix and regional concentration.
• Connexus Credit Union: Nationwide digital-first credit union offering consumer banking, mortgages, and credit cards. Comparable member-owned cooperative model with strong emphasis on mobile and online banking — a relevant digital-maturity benchmark for Coop Manati.

Broad incumbents

• Banco Popular de Puerto Rico: Largest commercial bank in Puerto Rico, offering the full suite of consumer and commercial banking products. Operates as a broad incumbent with deeper resources, larger branch network, and broader product breadth than Coop Manati in the same geographic market.
• FirstBank Puerto Rico: Major Puerto Rico commercial bank offering consumer and commercial banking, mortgages, and credit cards. Directly competes with Coop Manati for member deposits and loans across Puerto Rico with a substantially larger footprint.
• Oriental Bank: Puerto Rico-based commercial bank (now part of OFG Bancorp) offering consumer, commercial, and mortgage banking. Competes with Coop Manati for retail and business banking customers across Puerto Rico.
• PenFed Credit Union: Large U.S. federal credit union offering full-service consumer banking, mortgages, auto loans, and credit cards. Comparable cooperative model with member ownership and similar product set, though at much larger scale and national reach.
• Navy Federal Credit Union: Largest U.S. credit union serving military members, operating as a member-owned cooperative with full consumer banking products. Comparable cooperative governance and product breadth, at significantly greater scale and digital sophistication.

Others

• COSSEC: Puerto Rico deposit insurance corporation that insures Coop Manati's member deposits up to $250,000. Functions as the credit union's regulator-adjacent counterpart and indirect peer ecosystem enabler rather than a competitor.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/coop_Manati
• Facebookfacebook.com/coopmanati
• Instagraminstagram.com/coop_manati
• LinkedInlinkedin.com/company/coopmanati

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Coop Manati