Agency

Corporación Pública para la Supervisión y Seguro de Cooperativas de Ahorro y Crédito (COSSEC)

Created by Ley 114-2001, it supervises and insures Puerto Rico’s savings and credit cooperatives. The Savings and Credit Cooperative Societies Act calls it simply "the Corporation" and gives it concrete roles toward a member: it adjudicates the dispute when a cooperative denies a member examination of its books, and it authorizes loan portfolio sales and asset transactions that can affect members’ shares.