Cooperativa De Ahorro Y Credito De Arecibo

What Cooperativa De Ahorro Y Credito De Arecibo does

Cooperativa De Ahorro Y Credito De Arecibo (Coopaca) is a member-owned savings and credit cooperative (credit union) headquartered in Arecibo, Puerto Rico, founded on November 17, 1946, as the first communal savings and credit cooperative established on the island under Puerto Rico's cooperative law. The cooperative serves 119,000+ members across Puerto Rico through 14 branches spanning 9 municipalities, offering a full-service retail and small-business banking product set: share/savings accounts, checking (Regular, CooPACA Plus interest-bearing, CooPACA Max commercial), certificates of deposit, IRAs, personal and auto loans, secured loans, solar panel financing, VISA and multi-tier MasterCard credit products, mortgages (conventional, USDA Rural, VA, construction, land, and HIPOTECA OPTIMA), commercial financing (direct loans, lines of credit, SBA 7(a), SBA 504, USDA B&I), and an Insurance Division acting as authorized representative of Cooperativa de Seguros Múltiples.

The underlying technology stack is a conventional community-banking architecture: MeridianLink powers online loan and membership applications, the proprietary CooPACA Virtual web platform and CooPACA Móvil native iOS/Android apps deliver 24/7 account access, Repay handles electronic bill payment, Debmedia manages branch appointments and queues, JotForm captures ancillary applications, Estatik powers the REO property portal, and ATH/ATH Móvil provides debit card and mobile check deposit infrastructure. Distribution extends beyond the 14 owned branches via the FSCC/CO-OP Credit Unions shared branching network (6,000+ US locations) and the 40+ member Puerto Rico Circuito Cooperativo.

The business model is a standard cooperative net-interest-margin plus fee model: revenue is generated primarily through interest income on the personal, auto, mortgage, commercial, and credit-card loan portfolios (rates 3.00%-15.99%), supplemented by account, loan origination, ATM, and wire fees, dividends on member shares, and insurance commissions. Members are required to maintain $120 in annual shares ($10/month minimum) to access bonafide membership benefits including free life and funeral insurance. The institution is regulated under Puerto Rico Law 255 and insured by COSSEC (not the US federal government), with governance exercised through a member-elected Board of Directors and committee structure. There is no parent company, no public listing, and no disclosed external equity funding; the sole external capital injection is a $3,718,258 CDFI Fund grant awarded in April 2023.

Name

Cooperativa De Ahorro Y Credito De Arecibo

Legal name

Cooperativa De Ahorro Y Credito De Arecibo

Website

https://coopaca.com

Company type

Private

Founded year

1946

Operating status

Operating

Headcount range

101–250 employees

Short description

Coopaca is the first and largest member-owned savings and credit cooperative in Puerto Rico, founded 1946 in Arecibo, serving 119,000+ members across 14 branches with full-service retail, commercial, and mortgage banking plus insurance agency services.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213), Credit Unions (522130)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

akta.pro secondary industry

Community Development Credit Unions (CDCUs) (FSABAEAC)

Keywords

• Credit union services
• Consumer banking
• Commercial lending
• Mortgage financing
• Cooperative savings

Headquarters

HQ city

Puerto Rico

HQ country

United States

HQ region

North America

Offices14 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Loans: Primary revenue stream from interest charged on personal loans, auto loans, mortgages, commercial loans, and credit cards. Interest rates range from approximately 3.00% to 15.99% depending on product type and term.
2. Service Fees and Charges: Various fees including account maintenance fees, loan origination fees, ATM fees, wire transfer fees, and other banking service charges. These are disclosed in the cooperative's fee schedules.
3. Insurance Products: Insurance division acts as authorized representative of Cooperativa de Seguros Múltiples, offering auto, home, and business insurance policies. Revenue generated through policy placements and commissions.
4. Dividends on Member Shares: Members earn dividends on their savings and share accounts based on the cooperative's performance. Dividends are deposited annually to member accounts.
5. Certificate of Deposit Interest: Investment certificates offering competitive interest rates for members, with terms and conditions negotiated at time of purchase.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels7 records

Core offering

Cooperativa De Ahorro Y Credito De Arecibo (CooPACA) is a member-owned savings and credit cooperative operating as a full-service credit union in Puerto Rico. It provides deposit products (share/savings accounts, certificates of deposit, IRAs, checking), consumer loans (personal, auto, solar, secured, starter), credit cards, residential mortgages, commercial financing including SBA and USDA programs, insurance products, and digital banking services through 14 branches and online/mobile channels.

Product overview

Cooperativa De Ahorro Y Credito De Arecibo (Coopaca) operates as a full-service credit union offering a comprehensive financial product portfolio organized around five core pillars: (1) Deposit products anchored by the Cuenta de Acciones (membership/share account), complemented by savings accounts, certificates of deposit, IRA accounts, and seasonal savings (Xmas Club/Verano Coop); (2) Loan products spanning personal loans, auto loans, secured loans, solar panel financing, starter loans (Préstamo Novato), and insurance premium financing; (3) Credit products including VISA and MasterCard credit cards plus credit lines (secured and partially secured); (4) CooPACA Mortgage providing conventional, USDA Rural, VA, construction, and land purchase mortgages; and (5) Commercial services encompassing business checking (CooPACA Max), commercial financing (direct loans, SBA programs, lines of credit), and POS services. The cooperative extends its reach through CooPACA Virtual (web-based online banking), CooPACA Móvil (iOS/Android mobile app), a 14-branch physical network across Puerto Rico, and the Share Branch shared-branch network connecting to 6,000+ cooperative branches in the US. Supporting services include an insurance division, student financial aid, a children's savings club (CooPAKÍN), a loan calculator, and a payment portal. The institution is regulated by COSSEC under Puerto Rico Law 255 and serves over 119,000 members with $825 million in assets as the largest credit union in Puerto Rico.

Differentiator

Problem solved

Functional benefit

Brands

• CooPACA Mortgage: Mortgage lending division offering conventional, USDA Rural, VA, construction, and land purchase loans.
• CooPAKÍN
• CooPACA Virtual
• CooPACA Plus
• CooPACA Max

Products and services

• CooPACA Virtual (Online Banking) Web-based online banking platform enabling members to manage accounts, make transfers, pay bills, and service loans 24/7 from any location. For Coopaca members.
• CooPACA Móvil (Mobile App) Native mobile banking application for iOS and Android offering account access, mobile check deposits via ATH Móvil, transfers, bill payments, and account notifications for Coopaca members.
• Cuenta de Acciones (Share/Savings Account) Primary membership share account granting ownership in the cooperative; pays annual dividends based on patronage and includes free life and funeral insurance for qualifying members.
• Cuenta de Ahorro Especial (Special Savings Account) Specialized savings account offering attractive monthly interest payments for specific member purposes, transferable via CooPACA Virtual.
• Certificado de Depósito (Certificate of Deposit) Investment instrument offering competitive market interest rates; members receive higher yields than non-members with terms negotiated at acquisition.
• Xmas Club / Verano Coop (Seasonal Savings) Seasonal savings accounts for holiday and summer expenses with distinct parameters from regular accounts and savings limits.
• IRA (Individual Retirement Account) Traditional IRA trust providing retirement savings with tax-deferred accumulation; regular IRA CD-type account where interest compounds on principal and taxation occurs at withdrawal.
• Cuenta Corriente Regular (Regular Checking) Standard checking account for individuals for electronic transactions and check payments; does not earn interest.
• CooPACA PLUS (Interest-Bearing Checking) Interest-bearing checking account for individuals and non-profit organizations (churches, committees, organizations) requiring minimum daily balance.
• VISA Card Visa credit card with credit limits from $500 to $25,000, $120 share account requirement, $15 annual fee, and $10 additional card fee.
• MasterCard (Regular, Gold, Universitaria) Three-tier MasterCard program: Regular ($500-$4,999), Gold ($5,000-$25,000 with $30 annual fee), and University ($500-$1,500) for students establishing credit.
• Línea de Crédito (Credit Line) Credit lines including Secured (up to 95% of available share/deposit balance) and Partially Secured ($500-$5,000 with 10% share requirement, subject to credit history).
• Préstamos Personales (Personal Loans) Personal loans from $1,000 to $50,000 with 15% share requirement, maximum 144-month term, and interest rates ranging from 3.00% to 15.99%.
• Préstamos de Auto (Auto Loans) New and used auto financing plus refinancing with up to 84-month terms for new vehicles and 72-month terms for used vehicles; includes financing for Double Policy and Annual Policy insurance.
• Préstamo Garantizado (Secured Loans) Loans secured by shares, deposits, or certificates of savings (up to 95% of available balance); interest rates of 3.50% for members and 6.00% for non-members on deposit guarantees.
• Préstamos de Placas Solares (Solar Panel Loans) Solar energy financing to help members reduce electricity costs with low interest rates and long-term financing up to 144 months.
• Préstamo Novato (Starter Loan) Credit-building loan for new borrowers, 100% secured by loan proceeds deposited into savings account; maximum 36-month term with $120 share requirement.
• Financiamiento de Pólizas (Insurance Premium Financing) Financing for auto and property insurance policies from $300 to $5,000; finances 70% of total premium over maximum 9 months.
• CooPACA Mortgage Mortgage center offering home purchase and refinancing loans including Conventional Conforming, Conventional Non-Conforming (up to 85% LTV with MGIC), USDA Rural, VA loans, HIPOTECA OPTIMA (purchase + improvements), Construction loans, and Land purchase loans. For homebuyers and homeowners.
• Financiamiento Comercial (Commercial Financing) Business lending program including Direct Loans, Lines of Credit, SBA 7(A) Program (with 85% government guarantee), SBA 504 Program, USDA Rural Development B&I guarantees, Commercial Auto financing, and Insurance Policy financing. For small and medium-sized businesses.
• CooPACA Max (Commercial Checking) Commercial checking account with competitive interest on $2,500 minimum daily balance, $120 share requirement, first 25 checks free, and Intro Pack with 150 checks.
• Servicio POS (Point of Sale) Point of Sale services enabling businesses to accept various payment methods with 24/7 availability and next-business-day automatic deposits.
• División de Seguros (Insurance Division) Insurance offerings as authorized representatives of Cooperativa de Seguros Múltiples, including Auto (Full Cover, Double Interest, Public Liability, Collision), Homeowner (Basic Dwelling, Hazard), Business, Travel, Flood, and Bond policies.
• Share Branch / Servicio Compartido Shared branch network enabling members to conduct withdrawals, deposits, transfers, and loan payments at affiliated cooperatives across Puerto Rico (36+ locations) and the US (6,000+ locations) via FSCC.
• CooPAKÍN (Children's Savings Club) Children's savings program for members up to 15 years old with $10 minimum deposit, $120 annual share requirement, free ATH debit card, annual Three Kings celebration, and youth engagement activities.
• Ayuda Estudiantil (Student Financial Aid) University student financial aid program with semester-based deposits of $60, minimum GPA requirements (3.50 for seniors, 3.00 for continuing students), and mandatory workshop attendance.

Quantifiable outcome

• Over 119,000 members served with $825 million in assets
• +3 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

Feature4 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• COSSEC (Corporación Pública para la Supervisión y Seguro de Cooperativas de Puerto Rico)coreOthersRegulatory and deposit insurance body for Puerto Rico credit unions. COSSEC supervises, insures, and implements public policy for cooperatives. All deposits and shares at Coopaca are insured by COSSEC, not by the federal government.
• Banco CooperativocoreTechnology or IntegrationCooperative bank providing backend banking services, infrastructure, and support to Puerto Rico credit unions. Coopaca is connected to the Banco Cooperativo for services including the ATH network and backend processing.
• Cooperativa de Seguros MúltiplescoreChannel Partner/ Reseller/ DistributorInsurance company for which Coopaca acts as authorized representative. The Insurance Division offers auto, home, business, and other insurance policies through this partnership. Revenue generated through policy placements.
• Liga de Cooperativas de Puerto RicominorOthersUmbrella organization for Puerto Rico cooperatives focused on education and promotion of the cooperative movement. Coopaca participates in the cooperative movement and follows its principles.
• Comisionado de Instituciones Financieras (OCIF)minorOthersPuerto Rico government regulator for financial institutions including credit unions.
• COSVIminorOthersPuerto Rico cooperative providing additional services and support to member credit unions.
• CO-OP Credit Unions / FSCC NetworkcoreChannel Partner/ Reseller/ DistributorShared branching network allowing Coopaca members to conduct transactions at over 6,000 credit union locations in the United States and Puerto Rico. Part of the Financial Service Centers Cooperative (FSCC) network.
• Circuito Cooperativo (Puerto Rico Share Branch Network)coreChannel Partner/ Reseller/ DistributorPuerto Rico cooperative network including over 40 credit unions (Agricoop, BONICOOP, BUENACOOP, CABO ROJO COOP, CACSI, CAGUAS COOP, CAMUYCOOP, CARIBE COOP, EDUCOOP, Nuestra Coop, MOCACOOP, CREDICENTRO COOP, Florida Coop, GERENCOOP, GUBECOOP, and others) allowing shared services and transactions.
• MeridianLinkcoreTechnology or IntegrationDigital lending platform provider powering Coopaca's online loan and account application portals for personal loans, credit cards, and membership applications.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Cooperativa de Ahorro y Crédito de Caguas (CAGUAS COOP): One of the largest cooperative competitors in Puerto Rico, also offering deposits, loans, and credit cards to consumer members. Directly comparable as a PR-chartered savings and credit cooperative competing for overlapping member segments and joined to the same Circuito Cooperativo and FSCC networks.
• Cooperativa de Ahorro y Crédito de Aibonito (AIBONITO COOP): A similarly-positioned community credit union operating within the Puerto Rico cooperative network, competing for retail deposits, auto loans, and mortgage origination. Closely matches CooPACA's product mix (deposits, personal loans, mortgages) and regulatory framework under COSSEC and Ley 255.
• Cooperativa de Ahorro y Crédito de Camuy (CAMUYCOOP): Another member of the Circuito Cooperativo sharing shared-branching infrastructure with CooPACA. Offers the same regulated savings/credit product set under Puerto Rico's Ley 255, making it a directly comparable peer with similar geographic concentration in a specific municipality.

Others

• Banco Cooperativo de Puerto Rico: The cooperative wholesale bank and infrastructure provider that powers back-end banking, ATH network, and processing services for CooPACA and other PR credit unions. Not a direct competitor but a critical ecosystem participant whose services underpin CooPACA's operating model.
• Cooperativa de Seguros Múltiples: The Puerto Rico insurance cooperative for which CooPACA's Insurance Division acts as authorized representative, offering auto, home, and business policies. Forms a strategic channel partnership rather than competing head-to-head, but useful as a benchmark for PR-cooperative ecosystem economics.
• Liga de Cooperativas de Puerto Rico: Umbrella trade association for the PR cooperative movement. Direct ecosystem counterpart for policy and education initiatives affecting CooPACA, useful for benchmarking industry-wide positioning rather than as a competitive peer.

Broad incumbents

• Oriental Bank: Puerto Rico's largest community-oriented commercial bank with full retail, mortgage, and commercial offerings. Competes with CooPACA across deposits, credit cards, and mortgages but operates under a much broader FDIC-regulated commercial bank charter rather than cooperative law.
• FirstBank Puerto Rico: One of Puerto Rico's largest commercial banks with a strong retail and mortgage franchise. Provides consumer checking, credit cards, and home loans that overlap directly with CooPACA's offerings, but as a public company subsidiary of First BanCorp.
• Popular, Inc. (Banco Popular de Puerto Rico): Puerto Rico's dominant financial institution with the largest retail banking share. Overlaps CooPACA across deposits, consumer loans, credit cards, mortgages, and commercial financing, but operates a vastly larger scale bank charter rather than a cooperative model.
• PenFed Credit Union: One of the largest US credit unions with nationwide membership and a comparable full-service product suite (consumer loans, mortgages, credit cards, commercial partner products). Provides a public benchmark for how a large cooperative institution scales products and digital distribution.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles27 records

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 Cooperativa De Ahorro Y Credito De Arecibo