LARCOOP

What LARCOOP does

LARCOOP, legally Cooperativa de Ahorro y Crédito de Lares y Región Central, is a Puerto Rican member-owned credit union founded in 1950 and headquartered in Lares, operating among the top 20 cooperatives in Puerto Rico with over 16,400 members. The cooperative delivers a full-service retail and commercial banking offering through four branches across Lares, Utuado, and Las Marías, complemented by an iOS/Android mobile app, web-based homebanking (powered by Helvetia Banking), an online loan payment portal, and integration with the ATH Móvil payment network and ATH debit card infrastructure extending service reach to San Sebastián, Camuy, and Arecibo.

The core product suite spans deposit products (savings accounts with $101 minimum opening, commercial and personal checking accounts with no minimum balance and up to 50 free monthly transactions, sub-brand seasonal savings including NaviCoop for Christmas and VeraCoop for vacation, the Coop Quids children's savings account, and the $10/month action share membership requiring 12 annual contributions). Lending products include personal loans, auto loans, mortgages (Conventional, FHA, VA, USDA Rural, and Agricultural), commercial credit lines, emergency loans, non-profit loans, overdraft protection lines, and a renewable energy financing product covering solar panels, backup batteries, cisterns, electric vehicles, and Energy Star appliances. Credit card products run on MasterCard and Visa networks, including a student card. Customer segments span individual members, small business owners (with POS merchant services), the agricultural/farming sector, university students, and non-profit institutions.

The business model is cooperative: members are owners who pay $10/month action shares, receive annual dividends from operational surplus, and vote in the Assembly of Members. Revenue streams include net interest margin on loans (the dominant stream across mortgage, auto, personal, agricultural, and commercial credit), recurring membership share income (~16,400 × $120 annually, roughly $2M floor), credit card transaction and interchange fees, commercial account service charges ($10/month), checking account transaction fees, and miscellaneous fees (e.g., $15 returned payment fee). The cooperative is regulated by COSSEC (deposit insurance up to $250,000) and in April 2026 began applying for membership in the Federal Home Loan Bank of New York to access government-subsidized mortgage and community development capital. The cooperative also received $2.48M in CDFI Fund financing in April 2023 to expand lending to underserved populations.

Name

LARCOOP

Legal name

Cooperativa de Ahorro y Crédito de Lares y Región Central

Website

https://larcoop.com

Company type

Private

Founded year

1950

Operating status

Operating

Headcount range

11–50 employees

Short description

LARCOOP is a member-owned Puerto Rican credit union founded in 1950, serving over 16,400 members across Lares, Utuado, and Las Marías with deposit accounts, consumer and agricultural loans, MasterCard/Visa credit cards, and digital banking via mobile app, homebanking, and the ATH network.

Ownership category

akta.pro rank

Headquarters

HQ city

San Juan

HQ country

Puerto Rico

HQ region

Latin America

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Loan Interest Income: Interest income from various loan products including personal loans, auto loans, mortgage loans (conventional, FHA, VA, Rural, Agricultural), commercial credit lines, and lines of credit.
2. Membership/Action Shares: Monthly action share requirements ($10/month, $120/year) from over 16,400 members. Members become partial owners of the cooperative.
3. Credit Card Fees: Transaction fees and charges from credit card products including MasterCard and Visa.
4. Checking Account Fees: Monthly service charges and transaction fees from commercial and personal checking accounts.
5. Commercial Account Services: Monthly service fees ($10/month) for commercial checking accounts, POS system support, and merchant services.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels5 records

Core offering

LARCOOP is a member-owned cooperative financial institution (credit union) that provides retail and commercial banking services to over 16,400 members in central and western Puerto Rico. Its core offering spans deposit products (savings, checking, share/membership, commercial, children's, vacation, and Christmas savings accounts), lending products (personal, auto, mortgage Conventional/FHA/VA/Rural/Agricultural, commercial credit lines, overdraft protection, renewable-energy financing), credit cards (Mastercard, Visa, Student), and digital banking (homebanking, iOS/Android mobile app, Mi Tarjeta Coop credit-card app, ATH Móvil P2P payments, online loan-payment portal).

Product overview

LARCOOP (Cooperativa de Ahorro y Crédito de Lares y Región Central) is a Puerto Rican credit union offering a comprehensive suite of financial products and digital banking services. The core offering centers on traditional cooperative banking—savings accounts (Cuenta de Ahorros, VeraCoop vacation savings, NaviCoop Christmas savings, Coop Quids children's savings), checking accounts (Cuenta Corriente), share accounts (Cuenta de Acciones), and commercial accounts—alongside diverse lending products including personal loans, auto loans, mortgages (Conventional, FHA, VA, Rural/Agricultural), credit cards (Mastercard, Visa, Student), and renewable energy financing. The digital banking ecosystem consists of Homebanking (via Helvetia Banking platform), Mobile App, Mi Tarjeta Coop credit card app, ATH Móvil person-to-person payments, and online loan payment portal. Additional services include electronic transfers, direct deposit, loan calculator, financial education workshops, and repossessed property/vehicle sales. The cooperative positions itself among Puerto Rico's top 20 credit unions serving over 16,400 members across branches in Lares, Utuado, and Las Marías.

Differentiator

Problem solved

Functional benefit

Brands

• NaviCoop: Savings account designed for saving during the year with the best interest rates in the market, with funds available for Christmas.
• VeraCoop
• Coop Quids
• Mi Tarjeta Coop
• ATH Móvil
• Coop Quids

Products and services

• Personal Loans (Préstamo Personal) Personal loans for debt consolidation, travel, home remodeling, and other personal financing needs; available to credit-union members meeting membership and credit requirements.
• Auto Loans (Préstamo Auto) Vehicle financing for new and used automobiles with competitive interest rates and member orientation and support throughout the financing process.
• Mortgage Loans (Préstamos Hipotecarios) Mortgage lending products including Conventional, Rural (USDA), FHA, VA (Veteran), and Agricultural loans for purchasing, refinancing, or investing in residential property. Includes bona fide farmer financing for farm development.
• Credit Cards (Tarjeta de Crédito) Credit card products including Mastercard, Visa, and debit/credit combination cards, plus a Student Mastercard for university students. Issued under the Mastercard and Visa networks with global acceptance.
• Commercial and Specialty Loans (Otros Préstamos) Additional lending products including commercial lines of credit, emergency loans, insurance financing, loans for non-profit institutions, and revolving overdraft-protection credit lines on checking accounts.
• Renewable Energy Financing (Energía Renovable) Sustainable financing for solar panels, backup batteries, cisterns, electric vehicles, and Energy Star certified appliances, offered at competitive interest rates with flexible payment terms.
• Savings Account (Cuenta de Ahorros) Retail savings account for members and non-members with a $101.00 minimum opening deposit, access to direct deposit, and other cooperative savings benefits.
• Checking Account (Cuenta Corriente) Personal checking account with no minimum monthly balance, up to 50 monthly transactions without additional charges, direct deposit capability, ATH debit card access, free checks, and access via Tele Coop, Móvil Coop, and Home Banking.
• Share / Membership Account (Cuenta de Acciones) Systematic membership share-account plan requiring at least one share per month at $10.00 ($120.00 annually). Members receive dividends and patronage refunds annually from operational surplus; $120.00 initial deposit required.
• Commercial Account (Cuenta Comercial) Business banking package providing ATH debit card, electronic and paper statements, technical support, a POS system for card payments, ATH Móvil Commercial, homebanking access, and an account booklet. $200 initial deposit and $10 monthly service charge; available for partnerships, corporations, and sole proprietors operating as DBA.
• Coop Quids Children's Savings Children's savings account designed to teach financial responsibility from an early age; opened by a parent or guardian with a $10.00 minimum opening deposit.
• VeraCoop Vacation Savings Goal-based vacation savings account with a May-to-April cycle, designed to help members save throughout the year for vacation expenses at competitive market interest rates.
• NaviCoop Christmas Savings Goal-based Christmas savings account with a November-to-October cycle, allowing members to save throughout the year and access funds during the holiday season at competitive interest rates.
• Homebanking Digital Platform Web-based digital banking platform (via Helvetia Banking) enabling members to verify account balances, transfer funds between accounts, pay loans and credit cards, pay utilities, apply for loans, and report lost/stolen cards.
• Mobile Banking App (App Móvil) Mobile banking application for iOS and Android enabling members to verify balances and transactions, transfer funds between accounts, pay loans and credit lines, and pay utility bills.
• Mi Tarjeta Coop Credit Card App Mobile application for credit-card holders to verify balances and transactions, make credit-card payments, send inquiries to the cooperative, enable cards for international travel, and submit claims.
• ATH Móvil Person-to-Person Payments Person-to-person money transfer service enabling instant transfers between users, payments to registered merchants, and donations to non-profit institutions; accessed via debit card and email registration.
• Online Loan and Credit Card Payment Portal Online portal that processes loan and credit-card payments using funds from external financial institutions, with direct-debit support via routing and transit information for checking or savings accounts.
• Additional Branch Services Branch-level financial services including money orders, vehicle registration decals (marbetes), tax stamps, utility bill payments, participating-merchant bill collection, official checks, ATM access, and ATM access cards.

Named customers1 record

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature4 records

Partnerships

Four partnerships are on record, tiered core.

• Cossec (Corporación de Seguro de Depósitos de Puerto Rico)coreOthersPuerto Rico's cooperative regulator that insures deposits up to $250,000 and oversees cooperative financial institutions including LARCOOP.
• ATH (Access to Health/Todo a Uno)coreTechnology or IntegrationATH network integration for debit card services, ATM access, and ATH Móvil person-to-person payments. ATH is Puerto Rico's primary electronic payment network.
• MasterCardcoreTechnology or IntegrationCredit card network partnership enabling MasterCard branded credit cards accepted worldwide.
• VisacoreTechnology or IntegrationCredit card network partnership enabling Visa branded credit cards accepted worldwide.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Banco Popular de Puerto Rico: Puerto Rico's largest commercial bank offering the full retail, mortgage, and commercial product set LARCOOP competes against. Comparable as a deposit-and-loan competitor in the same Puerto Rico geography, but at dramatically larger scale and with broader product portfolio.
• FirstBank Puerto Rico: Major Puerto Rico commercial bank with extensive branch network across the island. Comparable as a deposit and mortgage competitor to LARCOOP in the same regulatory and geographic market, though operating at much greater scale and product breadth.
• Oriental Bank: Puerto Rico-focused commercial bank (now part of Santander) offering retail, commercial, and mortgage products island-wide. Comparable as a broader incumbent competitor to LARCOOP across consumer and commercial banking lines.
• PenFed Credit Union: Large US federally-chartered credit union with full digital and branch banking. Comparable as a cooperative depository institution offering consumer loans, mortgages, and credit cards, though at vastly larger national scale.

Direct peers

• Cooperativa de Ahorro y Crédito de Mayagüez: Puerto Rico credit union serving western Puerto Rico with a similar cooperative ownership model, deposit and loan product mix, and member-services orientation. The most directly comparable peer by charter type, geography, and scale bracket.
• Cooperativa de Ahorro y Crédito de Arecibo: Puerto Rico credit union operating in northern/central Puerto Rico. Directly comparable on cooperative structure, COSSEC regulation, and product suite (savings, loans, mortgages, credit cards).
• Cooperativa de Ahorro y Crédito de Aguadilla: Western Puerto Rico credit union offering consumer and commercial banking products under the same cooperative framework as LARCOOP. Highly comparable by regulatory regime, product mix, and member-base composition.

Emerging players

• BECU: US credit union with strong digital banking capabilities and member-owned model. Comparable to LARCOOP in the cooperative ethos and product breadth, though operating at materially larger scale with a more developed digital stack.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/watch?v=7ftmh6HKbS8
• LinkedInlinkedin.com/company/cooperativa-de-ahorro-y-credito-de-lares

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 LARCOOP