Cooperativa De Ahorro Y Credito Camuy
- Assets
- $291.4m
- Revenue
- $14.9m
- Investments
- $17.9m
- Employees
- 70
- Location
- Camuy, PR
- Founding
- 07/1986
- Data as of
- 12/2021
- EIN
- 66-0219584
Organization Overview
Cooperativa De Ahorro Y Credito Camuy is located in Camuy, PR. The organization was established in 1986. According to its NTEE Classification (W60) the organization is classified as: Financial Institutions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Cooperativa DE Ahorro Y Credito Camuy employed 70 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cooperativa DE Ahorro Y Credito Camuy is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
For the year ending 12/2021, Cooperativa DE Ahorro Y Credito Camuy generated $14.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $9.6m during the year ending 12/2021. While expenses have increased by 4.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FINANCCIAL SERVICES AS LOANS, SAVINGS AND ACCOUNTS MAINLY TO LOW INCOME SECTOR OF PEOPLE IN PUERTO RICO. ALSO, CREDIT UNION MAKE A SOCILA INVESMENT IN THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INTEREST INCOME AND OTHER INCOME OF $14,864,863 AND TOTAL EXPENSES OF $9,593,850.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michele Franqui Baquero Executive President | 40 | $178,005 | |
Emmanuel Roman Figueroa Vicepresident Of Administration | Officer | 40 | $79,644 |
Alvin Atiles Tosado Vicepresident Of Finance | Officer | 40 | $79,025 |
Nancy Lopz Quinones Vicepresident Of Operations | Officer | 40 | $72,020 |
Manuel Hermina Cajigas Board President | Trustee | 1 | $0 |
Sonia Mendez Guillama Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Evertec Comunication Services | 12/30/21 | $103,314 |
Security M Investigation Securu=ity Services | 12/30/21 | $102,612 |
Luis Morell Morell Legal Services | 12/30/21 | $186,457 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $9,428,519 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,864,863 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $408,694 |
| Compensation of current officers, directors, key employees. | $408,694 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,037,887 |
| Pension plan accruals and contributions | $179,814 |
| Other employee benefits | $254,065 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $975,876 |
| Advertising and promotion | $169,173 |
| Office expenses | $216,681 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $31,865 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $33,335 |
| Interest | $532,246 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $627,870 |
| Insurance | $1,023,264 |
| All other expenses | $992,330 |
| Total functional expenses | $9,593,850 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $68,994,318 |
| Savings and temporary cash investments | $12,800,003 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $166,040,247 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $1,071,715 |
| Notes and loans receivable | $8,512,849 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $6,370,021 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $17,876,403 |
| Investments—program-related | $6,876,802 |
| Intangible assets | $0 |
| Other assets | $2,901,934 |
| Total assets | $291,444,292 |
| Accounts payable and accrued expenses | $15,307,046 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $179,116,384 |
| Total liabilities | $194,423,430 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $75,261,056 |
| Paid-in or capital surplus, or land, building, or equipment fund | $18,190,798 |
| Retained earnings, endowment, accumulated income, or other funds | $3,569,008 |
| Total liabilities and net assets/fund balances | $291,444,292 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cooperativa De Ahorro Y Credito De Isabela Isabela, PR | $367,825,812 | $13,991,392 |
Cooperativa De Ahorro Y Credito Maunabo Maunabo, PR | $212,883,371 | $10,434,361 |
Cooperativa De Ahorro Y Credito Camuy Camuy, PR | $291,444,292 | $14,864,863 |
Cooperativa De Ahorro Y Credito De Manati Inc Manati, PR | $229,473,590 | $11,596,977 |
Cooperativa De Ahorro Y Credito Dr M Zeno Gandia Arecibo, PR | $269,257,849 | $11,746,637 |
Cooperativa De Ahorro Y Credito Hatillo Hatillo, PR | $145,726,446 | $10,204,313 |
Cooperative De Ahorro Y Credito De Lare Lares, PR | $207,270,857 | $12,993,672 |
Cooperativa De Ahorro Y Credito San Rafael De Que Quebradillas, PR | $229,762,461 | $11,060,077 |
Cooperative Ahorro Y Credito De Aguadilla Aguadilla, PR | $124,747,566 | $6,490,918 |
Cooperativa Ahorro Y Credito Pepiniana San Sebastian, PR | $107,433,726 | $3,932,481 |
Cooperativa De Ahorro Y Credito Morovena Morovis, PR | $104,195,562 | $4,097,760 |