2022-11-14T07:54:04-07:00 2021-12-31 660722537 Llavona Casas CPA PSC CENTRO INTERNACIONAL DE MERCADEO TORRE 10 100 CARR 165 SUITE 708 GUAYNABO PR 00968 990 2021-01-01 660190521 COOPERATIVA DE AHORRO Y CREDITO DE ARECIBO COOP 7878782095 CALLE CAPITAN ABREU ESQUINA RUIZ GA ARECIBO PR 00613 WILIAM MENDEZ EXECUTIVE PRESIDENT 7878782095 2022-11-14 1 Fernando Llavona P01474680 7877648664 2022-11-02 X 1 11 1 AAL2 2021 2022-09-23 18:48:47Z WILLIAM MENDEZ COND ALTOS REALES GUAYNABO PR 00959 37267661 0 X COOPACA.COM X 1947 PR THIS IS A NON PROFIT ORGANIZATION AND IS PRIMARILY DEDICATED TO RECEIVE SAVINGS FROM ITS MEMBERS IN THE FORM OF SHARES AND DEPOSITS 11 11 289 0 0 0 0 0 0 0 28142294 29476085 6304518 7791576 34446812 37267661 0 0 0 0 8081992 8923415 0 0 0 22806935 23260116 30888927 32183531 3557885 5084130 714602958 793590464 564355080 635221894 150247878 158368570 THE ORGANIZATION DOES SAVINGS AND DEPOSITS. 0 0 THE CREDIT UNION GENERATED INCOME OF $37,267,661. THE CREDIT UNION HAD TOTAL EXPENSES OF $32,183,531 GAIN IN EXCESS OF EXPENSES WAS OF $5,084,130. 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 289 1 0 0 0 0 0 0 X 11 11 0 0 0 0 1 1 1 1 1 0 1 1 0 1 0 1 1 1 1 1 0 PR X COOPERATIVA DE AC DE ARECIBO 7878782095 CALLE CAPITAN ABREU ESQUINA RUIZ GANDIA ARECIBO PUERTO RICO RQ 00613 WILLIAM MENDEZ EXECUTIVE PRESIDENT 60 0 X 211219 0 0 IDALIA ORTIZ VP OF FINANCE 60 0 X 89304 0 0 ANA M RODRIGUEZ VP OPERATIONS 60 0 X 71854 0 0 372377 0 0 1 0 1 0 LUIS A LOPEZ LOPEZ 7 PABLO CASALS MAYAGUEZ PR 00680 LEGAL ADVISOR 232193 DIEBOLD Tres Monjitas Indl Park SAN JUAN PR 00923 PROGRAM AND PRINTER SERVICES 131043 GENERAL CONSTRUCTION CARR 796 KM 1-0 BO BAIROA CAGUAS PR 00725 CONTRACTOR 139470 TOTAL QUALITY MAINTENANCE 405 AVE ESMERALDA GUAYNABO PUERTO RICO RQ 00969 SERVICE OF MAINTENANCE 214471 ATLAS MONITORING CORP AVE LOPATEGUI NO 9 BO LOS FRAILE QC PLAZA 2B GUAYNABO PR 00969 SECURITY 229729 5 0 0 29476085 29476085 0 0 0 0 0 0 0 0 0 0 0 0 0 0 7791576 7791576 0 0 7791576 37267661 37267661 0 0 X 372377 372377 0 7436556 7436556 373094 373094 741388 741388 731853 731853 481843 481843 147547 147547 728377 728377 163000 163000 2610699 2610699 1029840 1029840 4146363 4146363 UTILITIES 705452 0 705452 0 MEDICAL PLAN 853065 0 853065 0 PROVISION FOR BAD DEBTS 3850000 0 3850000 0 INFORMATION SYSTEM 1467242 0 1467242 0 6344835 6344835 32183531 0 32183531 0 87577376 95962288 36550000 38825036 306025 269289 390569897 434181497 29288987 18805058 10925353 10483929 153877677 181770129 21814923 23304993 12981707 8793303 714602958 793590464 6680944 7337843 557674136 627884051 564355080 635221894 X 122371862 127538399 26936358 29474454 939658 1355717 150247878 158368570 714602958 793590464 X 5084130 0 0 0 0 3036562 X 0 1 X 0 1 1 1196905 0 1196905 7508670 0 3475399 4033271 7868602 0 4578874 3289728 12619889 0 10677348 1942541 94921 0 73437 21484 10483929 DEPOSITS 527685393 CERTIFICATED OF DEPOSITS 100198658 627884051 37267661 0 0 0 0 0 37267661 0 0 0 37267661 32183531 0 0 0 0 0 32183531 0 0 0 32183531 0 0 0 WILLIAM MENDEZ EXECUTIVE PRESIDENT 211219 0 0 0 0 0 0 0 0 0 211219 0 0 0 JESUS M SOLERO ESQUILIN DIRECTOR CONSUMER LOAN X 26339 11766 0 1 1 MAXIMINO ORTIZ ADORNO DIRECTOR CONSUMER LOAN X 25000 18829 0 1 1 RAMON MACHADO DIAZ DIRECTOR CONSUMER X 6300 5658 0 1 1 CARLOS VILLAHERMOSA HERNANDEZ DIRECTOR CONSUMER LOAN X 10000 6979 0 1 1 MANUEL SANTIAGO SANTOS DIRECTOR CONSUMER LOAN X 35000 31660 0 1 1 MANUEL SANTIAGO SANTOS DIRECTOR CONSUMER X 37000 33305 0 1 1 ANTONIO RIVERA ESTELA DIRECTOR COSNUMER LOAN X 33566 15996 0 1 1 ANTONIO RIVERA ESTELA DIRECTOR CONSUMER X 18000 12847 0 1 1 ANA M RODRIGUEZ SOTO VP OPERATIONS MORTGAGE LOAN X 121000 93900 0 1 1 ANA M RODRIGUEZ SOTO VP OPERATIONS CONSUMER LOAN X 50000 31478 0 1 1 ANA M RODRIGUEZ SOTO VP OPERATIONS CONSUMER LOAN X 10000 6642 0 1 1 IDALIA ORTIZ RODRIGUEZ VP OF INVESMENT AND FINANCE CONSUMER LOAN X 6000 229 0 1 1 269289 Form 990, Part VI, Section A, Line 6 THE ORGANIZATION HAS MEMBERS CALLED "SOCIOS". EACH MEMBER CONTRIBUTES AT LEAST 120 DOLLARS IN SHARES. Form 990, Part VI, Section A, Line 7a EACH YEAR THE ORGANIZATION PERFORMS ITS ANNUAL STOCKHOLDERS MEETING WHERE MEMBERS OF THE GOVERNING BOARD ARE ELECTED FOR THREE YEAR PERIOD. Form 990, Part VI, Section A, Line 7b ONLY THOSE AFFECTING GENERAL RULES. Form 990, Part VI, Section B, Line 11b THE ORGANIZATION HAS TO SEND EVERY THREE MONTHS A REPORT ON COMPLIANCE WITH LAWS AND REGULATIONS TO THE REGULATOR IN THIS CASE COSSEC. Form 990, Part VI, Section B, Line 12c THE ORGANIZATION HAS TO SEND EVERY THREE MONTHS A REPORT ON COMPLIANCE WITH LAWS AND REGULATIONS TO THE REGULATOR IN THIS CASE COSSEC. Form 990, Part VI, Section B, Line 15 THE BOARD OF DIRECTORS PERFORMS ANNUAL EVALUATION OVER CEO PERFORMANCE. ALSO THE CEO HAS AN EMPLOYMENT FORMAL CONTRACT OR AGREEMENT. Form 990, Part VI, Section C, Line 19 ALSO THE CEO HAS AN EMPLOYMENT FORMAL CONTRACT OR AGREEMENT EACH YEAR THE ORGANIZATION PERFORMS ITS ANNUAL STOCKHOLDERS MEETING WHERE MEMBERS OF THE GOVERNING BOARD ARE ELECTED FOR A THREE YEAR PERIOD. ALSO AUDITED FINANCIAL STATEMENTS ARE DISCUSSED BY THE BOARD OF DIRECTORS WITH MEMBERS. FINANCIAL STATEMENTS ARE AVAILABLE FOR EACH MEMBER AT THE ANNUAL MEETING. Form 990, Part IX, Line 24e HUMAN RESOURCES EXPENSES $151,982, SECURITY EXPENSES $309,451; MAINTENANCE AND REPAIRS $1,057,900; BANK CHARGES $628,300; MAINTENANCE MASTER CARD $515,460; MAINTENANCE OF ATM $779,373; POSTAGE EXPENSES $554,698; RENT EQUIPMENT $111,251; CREDIT REPORTS $107,726; EDUCATION $97,779; DIRECTOR EXPENSES $60,694; REPRESENTATION EXPENSES $345,864; LEGAL EXPENSES $34,784; DELIVERY FUNDS $105,670; PROVISION FOR DISPOSAL ON REPOSSESSED PROPERTIES $352,501; OTHER EXPENSES $ 1,131,420. Form 990, Part XI, Line 9 INCREASES IN SHARE $5,166,537; INCREASES IN RESERVE OF CAPITAL INDIVISIBLE $3,339,567; INCREASES REDEMPTION FUND OBLIGATIONS CAPITAL $440,000; INCREASES IN RESERVE CONTIGENCIES 10% OF NET INCOME $508,413 INCREASES IN SOCIAL CAPITAL RESERVE $697,262; COMPREHENSIVE NET LOSS $2,447,146; SURPLUS $-4,668,071.