COSSEC adopts tech strategies, investment tools
August 29, 2014
The Corporation for the Supervision and Insurance of Puerto Rico Cooperatives, known as COSSEC in Spanish, has adopted a new policy of modernization, innovation and technology to facilitate information between co-ops and the government, President Daniel Rodríguez-Collazo said Thursday.
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COSSEC effects temporary rule on surplus allocations
March 18, 2014
The Corporation for the Supervision and Insurance of Puerto Rico Cooperatives, known as COSSEC in Spanish, announced Monday the implementation of a temporary rule applicable to the distribution of surplus revenue — a statute designed to ensure the health and financial soundness of the island’s credit unions in the face of credit rating changes.
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Downgrade to have limited impact on Puerto Rico co-ops
February 17, 2014
Puerto Rico’s co-op sector is expected to experience a “reduced impact” as a result of last week’s triple downgrade of Puerto Rico’s credit to junk by U.S. ratings agencies.
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Puerto Rico’s co-op sector is ‘ready to face’ downgrade
February 6, 2014
Puerto Rico’s co-ops is ready to weather the storm expected from the decision by Standard and Poor’s to downgrade the island’s credit rating to junk, contrary to other economic sectors, which may be adversely affected, industry representatives said Wednesday.
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COSSEC wraps up Fiscal ’13 with $229.2M in assets
November 18, 2013
The Corporation for the Supervision and Insurance of Puerto Rico Cooperatives, known as COSSEC in Spanish, wrapped up Fiscal 2013 with $229.2 million in assets, a 5.86 percent year-over-year increase, President Daniel Rodríguez-Collazo said during the entity’s annual convention this weekend.
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Church of God Mission Board opens credit union
October 2, 2013
The Church of God Mission Board, the first credit union to establish itself in Puerto Rico in more than a decade, opened recently in the northern town of Dorado, joining the prosperous cooperative movement.
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