Credit union member: your rights, and when they are suspended
You may examine the books through a sworn request. But all your rights are suspended if you are not current — even on a loan you merely co-signed.
August 23, 2026
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.
Agency's official siteGuides related to this agency
Business credit at your cooperative: lines and cards for your business
Act 15-2026 lets savings and credit cooperatives offer commercial lines and credit cards, secured by real or personal guarantee, to members and non-members.
August 28, 2026
COSSEC insurance: $100,000 per member
COSSEC insures shares and deposits up to $100,000 against insolvency. Not every co-op is under COSSEC: some remain federally insured.
August 30, 2026
How a youth cooperative is organised
Five people under 29 are enough, the share is at least one dollar, and under 21 no notary is needed.
September 2, 2026
If your cooperative’s assembly lacks quorum
Act 165-2025 cut the wait for a second call from an hour to thirty minutes in diverse-type cooperatives.
September 2, 2026
Who runs a cooperative: the Board and the Executive
The Board sets policy and appoints the Chief Executive; the Executive administers. COSSEC clarified both roles bindingly.
September 2, 2026
MiPRFácil is an independent informational website and is not affiliated with, endorsed by, or operated by the Government of Puerto Rico or any government agency.
MiPRFácil does not submit applications on your behalf.