Overview
What is Cooperativa De Ahorro Y Credito Oriental?
Cooperativa De Ahorro Y Credito Oriental, a Puerto Rican credit union based in Humacao, focuses on providing financial services to the low-income sector. With around 121 employees, the nonprofit organization offers loans, savings, and accounts to help improve the financial well-being of the community. Additionally, they invest in the community by making social contributions. Their operations include generating interest income and other earnings of approximately $26 million and managing expenses of around $22 million.
Official website here: www.cooporiental.com
Is Cooperativa De Ahorro Y Credito Oriental legitimate?
Cooperativa De Ahorro Y Credito Oriental is a legitimate nonprofit organization registered as a 501(c)(14) entity. Cooperativa De Ahorro Y Credito Oriental submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $850,590
Professional Fundraising Fees: $0
Other Salaries and Wages: $4,927,463
For more financial information, click here
Official website here: www.cooporiental.com
What is the mission statement of Cooperativa De Ahorro Y Credito Oriental?
Cooperativa De Ahorro Y Credito Oriental is dedicated to serving the financial needs of the low-income population in Puerto Rico. Through loans, savings, and accounts, the credit union aims to extend financial services and make a social investment in the community. The organization's mission is to provide crucial financial resources to individuals who may have limited access to such services otherwise. By offering loans and savings opportunities, Cooperativa De Ahorro Y Credito Oriental empowers its members to improve their financial situations and build a solid economic foundation for themselves and their families. Additionally, the credit union contributes to the community by making strategic investments in various social projects.
Official website here: www.cooporiental.com
Who is the CEO of Cooperativa De Ahorro Y Credito Oriental?
William Mendez is the Executive Presidente of Cooperativa De Ahorro Y Credito Oriental.
Official website here: www.cooporiental.com
What is the revenue of Cooperativa De Ahorro Y Credito Oriental?
Cooperativa De Ahorro Y Credito Oriental's revenue in 2022 was $26,088,612.
Official website here: www.cooporiental.com
Who are the executives of Cooperativa De Ahorro Y Credito Oriental and what are their salaries?
The average compensation at Cooperativa De Ahorro Y Credito Oriental during 2022 was $47,753. There are 121 employees at Cooperativa De Ahorro Y Credito Oriental.
Here are 12 key members and their salaries:
- Compensation: $393,581
- Related: $0
- Other: $0
- Compensation: $262,237
- Related: $0
- Other: $0
- Compensation: $104,069
- Related: $0
- Other: $0
- Compensation: $90,702
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.cooporiental.com
Where can I find the form 990 for Cooperativa De Ahorro Y Credito Oriental?
Cooperativa De Ahorro Y Credito Oriental's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.cooporiental.com
Learn more at the official website: www.cooporiental.com
Mission Statement of Cooperativa De Ahorro Y Credito Oriental
Cooperativa De Ahorro Y Credito Oriental, a leading financial institution, dedicates itself to serving the low-income sector of Puerto Rico's population. The credit union's primary goal is to provide financial services such as loans, savings, and accounts to those in need. In addition to its financial offerings, Cooperativa De Ahorro Y Credito Oriental makes a significant social investment in the community.
The mission of Cooperativa De Ahorro Y Credito Oriental is multifaceted. On one hand, it aims to extend financial services to individuals who may not have access to traditional banking options. By offering loans, savings, and accounts, the credit union empowers its members to improve their financial situations and build a better future. On the other hand, Cooperativa De Ahorro Y Credito Oriental recognizes the importance of community investment. Through its social investment initiatives, the credit union seeks to make a positive impact on the lives of its members and the broader community.
Cooperativa De Ahorro Y Credito Oriental's financial services play a crucial role in providing opportunities for its members. With access to loans, individuals can invest in their businesses, further their education, or make necessary home repairs. Savings accounts help members build a financial cushion for unexpected expenses or future goals. And by offering accounts, the credit union provides a safe place for its members to save and grow their money.
Moreover, Cooperativa De Ahorro Y Credito Oriental's social investment initiatives go beyond financial services. The credit union's commitment to the community is reflected in its income of $26,088,612 and total expenses of $22,181,401. These figures demonstrate the credit union's ability to generate revenue while remaining dedicated to its mission of serving the low-income sector of Puerto Rico. Overall, Cooperativa De Ahorro Y Credito Oriental is more than just a financial institution; it is a vital community partner that seeks to improve the lives of its members and make a positive impact on Puerto Rico as a whole.
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Impact
October, 2024
Cooperativa De Ahorro Y Credito Oriental significantly impacts the low-income sector of Puerto Rico by providing essential financial services including loans, savings accounts, and other banking services. This access to financial resources enables individuals and families to improve their economic circumstances, manage expenses, and invest in their futures.
With total income of $26,088,612 and expenses of $22,181,401, the cooperative demonstrates financial stability while directing its resources toward community enhancement. By focusing on the low-income population, it facilitates pathways for financial growth and empowers members to make sound financial decisions. Additionally, the cooperative invests socially in the community, further contributing to local development and resilience.
Through these efforts, Cooperativa De Ahorro Y Credito Oriental plays a crucial role in fostering financial inclusion, encouraging savings, and providing access to credit, which ultimately enhances the quality of life for many in Humacao and beyond. Its commitment to serving underrepresented communities strengthens the local economy and promotes social welfare.
This information is meant to be a general summary of Cooperativa De Ahorro Y Credito Oriental. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $17,168,425
- Gross Receipts: $26,088,612
Assets and Liabilities:
- Total Assets: $429,300,073
- Total Liabilities: $293,858,591
- Net Assets: $135,441,482
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Organization Details
Founding Year
1956
Phone
(787) 852-0964Principal Officer
William Mendez
Main Address
PO BOX 876, HUMACAO, PR, 00792
Website
www.cooporiental.comNTEE Category
Code: W60 - Public benefit
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