The Public Corporation for the Supervision and Insurance of Cooperatives of Puerto Rico (COSSEC) announced that it reached the highest capitalization level in its history, 2.98%, with a net position of about $305 million at the close of fiscal year 2026. The results will allow COSSEC to distribute $3,638,012 in dividends to insured cooperatives. The announcement came at COSSEC’s 43rd Annual Informational Assembly, where Executive President Mabel Jiménez Miranda presented the results of the past five years.
She said that when her team began in 2021, COSSEC had about $136 million to back its insurer responsibilities and a capitalization level below the optimum set by law. After eight years without dividends, COSSEC resumed the practice in 2024. Five Puerto Rican cooperatives (La Sagrada Familia, LarCoop, Camuy, Jesús Obrero and Isabela) were admitted to the Federal Home Loan Bank of New York (FHLBNY), and five more are in process.
This followed Law 73 of 2025, a memorandum of understanding with FHLBNY and new regulatory requirements. At the end of June 2026, the cooperative savings and credit system exceeded $12.66 billion in assets, with about $7.96 billion in loans and more than 1.16 million members. Since 2022, assets rose by more than $1.2 billion, loans by nearly $2 billion, and more than 51,000 members were added, while the number of cooperatives fell from 107 to 91 through consolidations.
COSSEC also cited modernized supervision tools and new rules on technology, information security and preventing financial exploitation of older adults and adults with disabilities.