Cabo Rojo Coop

What Cabo Rojo Coop does

Cabo Rojo Coop (legal name Cooperativa de Ahorro y Crédito de Cabo Rojo) is a Puerto Rico member-owned savings and credit cooperative founded in 1956 by Ervin Fernández Pabón and a group of caborrojeños, headquartered in Cabo Rojo, Puerto Rico. It serves individual consumers, small businesses, freelancers, students, and youth across four municipalities in southwestern Puerto Rico (Cabo Rojo, Mayagüez, Hormigueros, and Sabana Grande) through five physical branches, plus digital channels including Coop en Casa (Helvetia Banking online platform), the Cabo Rojo Móvil Coop mobile app, the CoopWzapp WhatsApp service, E-Loans, TeleCoop telephone banking, and an IVR system for credit card inquiries. Its product portfolio spans deposit accounts (regular savings, seasonal XMAS Coop/Verano Coop/VeraCoop, CofreSeguro, CDs), checking accounts (consumer, commercial, DBA, non-profit), credit cards (Visa, MasterCard, MasterCard Estudiantil), debit cards (ATH/MasterCard), lending (auto, personal, mortgages — conventional, FHA, rural, construction), insurance (life, loan protection), and ancillary services including MoneyGram money orders, wire transfers, vehicle registration (marbete) sales, and treasury stamp sales. The institution is regulated under Puerto Rico cooperative law, holds NMLS Loan Origination licensure (ID 525114), and its deposits are insured by COSSEC up to $250,000 per account.

The cooperative generates revenue primarily through interest income on its loan portfolio (auto, personal, mortgage, commercial), credit card interest and transaction fees (including a $50-per-5,000-points rewards program), deposit account fees (e.g., $2.00 statement certification, wire transfers, money orders, manager's checks), and insurance/claims services. Its go-to-market combines direct-to-consumer branch acquisition with a community-led model anchored by financial education content (blog), youth savings programs (Cuenta Tingli, Cuenta Up, student MasterCard, Zona Card), Beca-Coop scholarships for grades 4–12 ($400/year) and university ($800/year), and community events such as the annual 5K charity race and Cooperativism Month fair. In 2025 the cooperative distributed $1.5M in dividends to members, processed approximately 3 million electronic transactions, and extended its digital footprint through the CoopWzapp launch. Two prior cooperative integrations (Cooperativa de A/C de Hormigueros and Cooperativa Sabaneña) have already extended its branch footprint; the institution's 70th-anniversary activities and 2023 CDFI Fund award ($3.7M) underscore continued community reinvestment.

Name

Cabo Rojo Coop

Legal name

Cooperativa de Ahorro y Crédito de Cabo Rojo

Website

https://caborojocoop.com

Company type

Private

Founded year

1956

Operating status

Operating

Headcount range

51–100 employees

Short description

Cabo Rojo Coop is a member-owned Puerto Rico savings and credit cooperative founded in 1956, serving individual consumers, small businesses, students, and freelancers across four southwestern municipalities with deposit accounts, loans, credit/debit cards, and digital banking via five branches and online, mobile, and WhatsApp channels.

Ownership category

akta.pro rank

Product category

Cooperative Banking

NAICS

Credit Unions (522130), Credit Unions (52213), Credit Card Issuing (52221)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Cooperative Banks (Member-Owned Commercial/Retail) (FSABAEAF)

Keywords

• Cooperative banking services
• Consumer deposit accounts
• Personal lending products
• Digital banking platform
• Credit debit cards

Headquarters

HQ city

San Juan

HQ country

Puerto Rico

HQ region

Latin America

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Loan Interest Income: The cooperative earns interest income from auto loans, personal loans, mortgages (conventional, FHA, rural, construction), and commercial loans extended to members. Interest rates are competitive relative to traditional banks.
2. Credit Card Fees and Interest: Revenue from Visa and MasterCard credit card transactions, annual fees, cash advance fees, and interest on revolving balances. Includes a rewards program ($50 per 5,000 points).
3. Deposit Account Fees: Various fee income from account services including statement certifications ($2.00), money orders, manager's checks, wire transfers, marbete sales, and other ancillary banking services.
4. Insurance and Claims Services: Facilitates insurance products (life insurance, loan protection insurance) and processes claims for funeral, auto accidents, electronic transactions, and travel incidents.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels6 records

Core offering

Cabo Rojo Coop is a member-owned savings and credit cooperative offering deposit accounts (checking, savings, seasonal savings, certificates of deposit), consumer and commercial loans (auto, personal, mortgage including FHA and rural programs), and Visa/MasterCard credit and debit cards. It serves individual members and small commercial clients across southwestern Puerto Rico through five branch locations and a suite of digital banking channels including home banking, mobile app, WhatsApp service, and online lending. The cooperative also offers ancillary services such as money orders, wire transfers, manager's checks, payroll deduction, insurance products, vehicle registration tabs, and treasury stamps.

Product overview

Cabo Rojo Coop is a financial cooperative (Cooperativa de Ahorro y Crédito) founded in 1956, offering a comprehensive suite of financial products and digital banking services. The core portfolio centers on lending (auto loans, personal loans, mortgages including conventional, FHA, construction, and rural programs), deposit accounts (checking, regular savings, seasonal savings like XMAS Coop and Verano Coop, long-term savings via CofreSeguro and CDs), and credit/debit cards (VISA, MasterCard including student cards). The cooperative has invested heavily in digital infrastructure through platforms like Coop en Casa (online banking), Cabo Rojo Móvil Coop (iOS/Android app), CoopWzapp (WhatsApp-based banking), E-Loans (online lending), and TeleCoop/Text Coop (phone/SMS banking). Additional services include commercial banking, youth accounts (Tingli, Up, Zona Card), scholarship programs (Beca-Coop), insurance products, MoneyGram money orders, wire transfers, and treasury stamp sales. The institution serves southwestern Puerto Rico with branches in Cabo Rojo (Central Office and Pueblo Nuevo), Mayagüez, Hormigueros, and Sabana Grande, operating under COSSEC insurance and NMLS licensing.

Differentiator

Problem solved

Functional benefit

Brands

• Coop en Casa: Digital banking platform for members to manage accounts, transfer funds, pay bills, and access statements online.
• CoopWzapp
• Coop en Línea / Cabo Rojo Móvil Coop
• TeleCoop
• Auto Coop
• E-Loans
• CoopWzapp
• ATH Móvil Business
• Zona Card / MasterCard Estudiantil
• CofreSeguro
• Cuenta Tingli
• Cuenta Up
• XMAS Coop
• Verano Coop
• VeraCoop

Products and services

• Préstamos / Loans (auto, personal, mortgage, commercial)
• Cuentas de Cheques (Checking Accounts)
• Cuenta de Ahorro Regular (Regular Savings Account)
• Seasonal Savings Accounts (XMAS Coop, Verano Coop, VeraCoop)
• CofreSeguro Savings Account
• Youth Savings Accounts (Cuenta Tingli and Cuenta Up)
• Certificados de Depósito (Certificates of Deposit)
• Visa and MasterCard Credit Cards
• MasterCard Estudiantil / Zona Card (Student Card)
• ATH Tarjeta de Débito (MasterCard Debit Card)
• Cliente Comercial (Commercial Banking Services)
• Coop en Casa (Online Banking Platform)
• Cabo Rojo Móvil Coop (Mobile App)
• CoopWzapp (WhatsApp Banking Service)
• E-Loans (Online Lending Platform)
• TeleCoop and Text Coop (Phone/SMS Banking)
• Money Orders (MoneyGram)
• Cheques de Gerente (Manager's Checks)
• Wire Transfers and Direct Debits (Transferencia Cablegráfica / Débito Directo)
• Descuento Nominal (Payroll Deduction Service)
• Insurance Products (Life Insurance, Share Account Life Insurance, Loan Protection Insurance)
• Venta de Marbetes (Vehicle Registration Tab Sales)
• Venta de Sellos y Comprobantes (Puerto Rico Treasury Stamps and Receipts)

Quantifiable outcome

• $1.5M in dividends distributed to members in 2025
• +3 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature4 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• COSSEC (Corporación de Seguro de Depósitos de Puerto Rico)coreOthersCabo Rojo Coop's accounts are insured by COSSEC, Puerto Rico's deposit insurance corporation, which protects member deposits. This is a regulatory insurance relationship required for all Puerto Rico cooperatives.
• CO-OP Shared BranchcoreOthersCO-OP Shared Branch network enables Cabo Rojo Coop members to access their accounts at thousands of branches and ATMs worldwide. Listed as a key collaborator on the website.
• COSVIminorOthersListed as a collaborator on the Cabo Rojo Coop website. COSVI is a Puerto Rico-based cooperative financial entity.
• Liga de Cooperativas de Puerto RicominorOthersListed as a collaborator on the Cabo Rojo Coop website. Liga de Cooperativas is the Puerto Rico league of cooperatives.
• Seguros MúltiplesminorOthersListed as a collaborator on the Cabo Rojo Coop website. Seguros Múltiples is a Puerto Rico insurance company that provides insurance products.
• Circuito CooperativominorOthersListed as a collaborator on the Cabo Rojo Coop website. Circuito Cooperativo is a cooperative circuit/network.
• ATH (Sistema de ATH / ATH Móvil)coreTechnology or IntegrationATH and ATH Móvil are Puerto Rico's interbank network and mobile payment platform. Cabo Rojo Coop integrates ATH services including debit cards (ATH card), ATH Móvil for mobile payments and transfers, and ATH Móvil Business for commercial clients.
• Helvetia Banking (Coop en Casa Platform)coreTechnology or IntegrationHelvetia Banking provides the Coop en Casa (Home Banking) platform technology used by Cabo Rojo Coop for online and mobile banking services, including the E-Loans system.
• MoneyGramminorOthersMoneyGram logo is featured on Cabo Rojo Coop's Money Orders product. Money Orders are backed by MoneyGram's brand and can be verified or replaced via moneygram.com.
• Visa and MasterCardcoreTechnology or IntegrationCabo Rojo Coop issues Visa and MasterCard credit cards and MasterCard debit cards. These networks enable global card acceptance, rewards programs, fraud protection, and chargeback processes.

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Cooperativa Oriental de Ahorro y Crédito: One of the largest cooperativas de ahorro y crédito in Puerto Rico, serving the eastern region with full digital banking, lending, and commercial services. Comparable as a Puerto Rico member-owned cooperative offering deposit and loan products, but with significantly greater scale and broader geographic reach than Cabo Rojo Coop.
• Banco Popular de Puerto Rico: The largest commercial bank in Puerto Rico, offering full deposit, lending, credit card, and digital banking services. Comparable as a competing deposit/lender in the same southwest region, but as a publicly listed commercial bank rather than a member-owned cooperative, dwarfing Cabo Rojo Coop in scale and product breadth.
• Oriental Bank (OFG Bancorp): Puerto Rico commercial bank and U.S. mainland operations, recently acquired by FirstBank. Comparable as a deposit/lender competing in Cabo Rojo Coop's territory but operating as a much larger federally-regulated bank rather than a cooperative.
• FirstBank Puerto Rico: Major Puerto Rico commercial bank offering retail and commercial banking across the island. Competes for the same consumer deposits and loans as Cabo Rojo Coop in the southwest region but at significantly larger scale and regulatory framework.

Direct peers

• Cooperativa Vega Alta: Puerto Rico savings and credit cooperative offering personal loans, mortgages, credit cards, and digital banking under COSSEC regulation. Comparable as a similarly-sized cooperativa de ahorro y crédito targeting consumers in a defined Puerto Rico region with digital and physical distribution.

Regional players

• Cooperativa de Ahorro y Crédito de San Juan: San Juan-based Puerto Rico credit union offering similar deposit, lending, and electronic banking products under COSSEC oversight. Comparable cooperative model and product suite, but serves a different metropolitan geography, limiting direct member overlap with Cabo Rojo's southwest territory.

Others

• Helvetia Banking (Platform Vendor): Core digital banking and online lending platform provider for multiple U.S. credit unions, including Cabo Rojo Coop's Coop en Casa and E-Loans. Not a competitor but the underlying technology enabler for the cooperative's digital product suite.
• Seguros Múltiples: Puerto Rico insurance company listed as a Cabo Rojo Coop collaborator, providing insurance products the cooperative distributes to members. Comparable as an adjacent financial services partner in the same cooperative ecosystem, not a direct deposit/lending competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/caborojocoop
• Instagraminstagram.com/caborojocoop
• LinkedInlinkedin.com/company/cooperativa-de-ahorro-y-credito-de-cabo-rojo

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 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 Cabo Rojo Coop