What Islacoop does

IslaCoop (legal name Cooperativa A/C ISLACOOP) is a Puerto Rico-based credit union cooperative incorporated under Puerto Rico law (Ley 269 of May 10, 1950) and regulated by COSSEC (Corporación para la Supervisión y Seguros de Cooperativas de Puerto Rico). Founded around 1960 with 60+ years of continuous operation, the cooperative serves retail members (socios) primarily in Puerto Rico from a single physical branch in Carolina, PR. Members participate as shareholders by purchasing a minimum of 10 shares annually ($12 each, $120 minimum) and receive tax-free dividends on share balances from annual operating surplus. Membership offerings are governed by cooperative principles of mutual aid, solidarity, and financial education.

The cooperative offers a comprehensive retail banking portfolio: share accounts; regular and club savings (Navi-Coop Christmas Club, Summer Club, Tax Club, Trust Fund for minors); interest-bearing checking accounts with no monthly fees; and a wide loan suite spanning personal loans (up to $30,000 or 5x share balance), auto, appliance ($2,500 / 48-month), emergency ($100–$1,500), auto insurance, dental plan (8.5%), and visual correction loans, plus a Presta.com computer purchase program with distributor pricing for members. Distribution is hybrid: a single physical branch supplemented by Home Banking (hosted on the Helvetia Banking platform), TeleCoop telephone banking, Telepago bill payment, and access to the ATH/ATM network and ATH Móvil mobile payment platform.

Revenue is generated primarily through interest income on the loan portfolio, dividend distributions from net surplus paid to member shares, interest paid on member savings accounts, and transactional fees including ATM, overdraft, account closure, and stop payment charges. The cooperative runs a community-led go-to-market model emphasizing mutual aid principles, financial education, and member acquisition through online enrollment with optional employer-based payroll deduction. With a small (1–10 disclosed) leadership/governance team, no M&A history, and no external parent, IslaCoop operates as an independent, small-scale community financial institution with effectively 100% of its served market in Puerto Rico.

Name

Islacoop

Legal name

Cooperativa A/C ISLACOOP

Website

https://islacoop.com

Company type

Private

Founded year

1960

Operating status

Operating

Headcount range

1–10 employees

Short description

IslaCoop is a Puerto Rico-based member-owned credit union cooperative providing retail savings, checking, and personal/auto loan products to Puerto Rico residents through a single Carolina branch and digital banking channels.

Ownership category

akta.pro rank

Headquarters

HQ city

Carolina

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Loan Interest Income: Credit union generates revenue from various loan products including personal loans, auto loans, appliance loans, emergency loans, and lines of credit. Interest rates vary by product type.
2. Share Account Dividends: Members purchase shares ($12 each) and earn tax-free dividends annually based on cooperative's operational surplus. Minimum 10 shares required per year.
3. Savings Interest: Competitive interest paid on savings accounts, Christmas club (Navi-Coop), Summer club, Tax club, and regular savings. Variable rates based on balance tiers.
4. Checking Account Services: Fee-free checking account with interest paid on balances. First 100 checks free.
5. Account Fees and Charges: Various fees including ATM fees, early withdrawal penalties for club accounts, insufficient funds charges, account closure fees, and monthly ATM card fees.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels3 records

Core offering

Islacoop is a member-owned credit union cooperative that provides retail financial services to individuals in Puerto Rico. It offers share accounts with tax-free dividends, tiered savings accounts (regular, Christmas Club, Summer Club, Tax Club), interest-bearing checking accounts, trust accounts for minors, and a broad portfolio of personal loans including personal loans up to $30,000, appliance, emergency, auto, auto insurance, visual correction, and dental plan loans. Services are delivered through a single Carolina, PR branch, 24/7 Home Banking, TeleCoop phone banking, Telepago bill payment, the shared ATH ATM network, and ATH Móvil mobile payments.

Product overview

Islacoop is a credit union cooperative offering a comprehensive portfolio of financial products and services. The core offerings include share accounts (Acciones), various savings accounts (regular savings, Christmas Club/Navi-Coop, Summer Club, Tax Club), checking accounts with interest, and trust funds for minors. Loan products span personal loans (up to $30,000), appliance loans, emergency loans, auto loans, visual correction loans, dental plan loans, and Presta.com computer purchases. Service offerings include 24/7 Home Banking, ATM network (ATH), Telecoop telephone banking, Telepago bill payment service, scholarship programs, and funeral plans. The cooperative integrates with ATH Móvil for mobile payments. Members access services through the cooperative's Carolina, Puerto Rico branch or via online/telephone channels.

Differentiator

Problem solved

Functional benefit

Brands

• ATH Móvil: Mobile payment service allowing members to send and receive money 24/7
• Navi-Coop (Christmas Club)
• Tax Club
• Summer Club
• Veracoop
• TeleCoop
• Telepago

Products and services

• Acciones (Share Account) Capital membership account where members purchase shares and receive tax-free dividends from operational earnings. Requires minimum 10 shares annually ($120/year) at $12 each share value.
• Depósitos / Ahorros (Savings Account) Regular savings account with tiered competitive interest rates (up to 2.52% APY on $5,000+ balances), allowing members to deposit and withdraw funds at any time.
• Navi-Coop (Christmas Club) Holiday savings club with competitive market interest rates; funds available the first week of November for holiday spending.
• Summer Club Seasonal savings club with high interest payments; funds become available the first week of May for summer expenses.
• Tax Club Systematic tax savings account accumulated from March to February each year; funds paid as a check the first week of March to assist with tax payments.
• Checking Account Interest-bearing checking account with no monthly fees, first 100 checks free, and 24/7 online access via Home Banking.
• Trust Fund Savings account designed for children under 18 with high interest rates; can be opened with $1.00 minimum balance.
• ATH Móvil Mobile payment service enabling members to send and receive money to other ATH Móvil users 24/7.
• Personal Loans Personal loan up to 5 times share balance or $30,000 maximum, with competitive interest rates, expedited service, and online application availability.
• Appliance Loans Loan up to $2,500 with up to 48 months to repay, for purchasing household appliances.
• Emergency Loans Short-term emergency loan ranging from $100 to $1,500 with up to 12 months repayment term.
• Auto Loans Vehicle financing product for automobile purchases.
• Auto Insurance Loans Loan up to $5,000 covering 25% of auto insurance cost.
• Visual Correction Loans Loan covering 100% of visual correction procedures (eyeglasses, etc.).
• Dental Plan Loans Loan financing 100% of a two-year family or individual dental plan at 8.5% interest.
• Presta.com Computer purchase program offering distributor pricing exclusively for cooperative members.
• Home Banking 24/7 online banking platform (powered by HelvetiaBanking) for account access, balance checks, transfers, transaction history, and bill payment.
• TeleCoop (Phone Banking) 24/7 telephone banking service allowing members to access accounts, check balances, make transfers, view the last 10 cleared checks, and review ATH transactions.
• Telepago (Bill Payment) 24/7 bill payment service for utilities, phone, cellular, auto loans, mortgages, credit cards, and other recurring payments, accessed by phone.
• ATM Services (Red ATH) Automated teller machine services on the shared Red ATH network providing 24-hour withdrawals, transfers, and point-of-sale purchases.
• Scholarship Program Exclusive scholarship program for members and their direct dependents with good academic standing.
• Funeral Plan Affordable monthly payment funeral plan providing coverage for up to six family members.
• Money Orders and Revenue Stamps Sale of money orders, decals, manager's checks, special occasion checks, receipts, and internal revenue stamps.
• Direct Deposit Electronic direct deposit service for payroll and other recurring member deposits.

Quantifiable outcome

• Savings accounts earn up to 2.52% APY on balances of $5,000 or more
• +3 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• COSSEC (Corporación para la Supervisión y Seguros de Cooperativas de Puerto Rico)coreOthersCOSSEC is the regulatory body that insures cooperative deposits in Puerto Rico. IslaCoop deposits are insured up to $250,000 by COSSEC. This is a mandatory regulatory relationship required for all Puerto Rico credit unions.

Scale indicators1 record

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• Banco Popular de Puerto Rico: Largest commercial bank in Puerto Rico, offers a full range of deposit, loan, and digital banking products targeting similar consumer and SMB segments. Comparable in product breadth but operates as a for-profit institution rather than a member cooperative.
• FirstBank Puerto Rico: Major Puerto Rico commercial bank (now including the former Oriental Bank franchise) offering consumer deposits, mortgages, and personal loans. Comparable geographic and product overlap with IslaCoop, though materially larger.
• Navy Federal Credit Union: Large U.S. credit union offering deposit accounts, consumer loans, and digital banking to a defined member group. Comparable cooperative business model and product suite, but at vastly larger scale.
• Self-Help Credit Union: Community-development credit union (CDFI) focused on serving underserved borrowers with small-dollar loans, savings products, and financial education. Comparable cooperative ethos and CDFI funding profile to IslaCoop.
• Alliant Credit Union: Large U.S. digital-first credit union with online savings, checking, and consumer lending products. Comparable in product type and member-owned structure, though operating at national scale rather than a defined local community.
• PenFed (Pentagon Federal Credit Union): Major U.S. credit union serving a defined membership group with a broad consumer banking and lending product set. Comparable cooperative ownership and core product mix at much larger scale.

Direct peers

• Cooperativa Oriental de Puerto Rico: Puerto Rico member-owned cooperative offering savings, checking, and consumer loans under the same COSSEC regulatory framework. Direct peer in business model, regulatory regime, and product set.
• Cooperativa de Ahorro y Crédito de Rincón: Small Puerto Rico credit union serving a defined member community with deposit and consumer loan products. Comparable cooperative structure, regulatory oversight, and product portfolio to IslaCoop.
• Cooperativa de Ahorro y Crédito Vega Alta (Vega Coop): Member-owned Puerto Rico cooperative offering share accounts, savings, and consumer loans under COSSEC supervision. Closely comparable in size, regulatory framework, and product mix.

Others

• Helvetia Banking / Jack Henry core processor ecosystem: Core banking platform provider powering IslaCoop's Home Banking (h5.helvetiabanking.com/islacoop). Indirect ecosystem peer as the technology backbone enabling IslaCoop's digital service delivery.

Market position

Strengths1 record

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/tuislacoop

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 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 Islacoop