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Puerto Rico Stories
Cooperativa Jesus Obrero: Leveraging Solar Power to Withstand Hurricanes
- Guaynabo,
- Puerto Rico
- Cooperativa de Ahorro y Credito Jesus Obrero
Even before Hurricane María devastated Puerto Rico in 2017, causing $90 billion in damage, frequent climate events motivated Cooperativa Jesús Obrero to build resilient infrastructure that can provide lower utility bills and alternative power to its members. Its President Aurelio Arroyo González describes that the cooperativa is part of the “critical infrastructure” helping the community to function on a day-to-day basis as well as prepare for and recover from natural disasters.
Hispanic Housing Development Corporation
- Island-wide,
- Puerto Rico
- NeighborWorks Capital
NeighborWorks Capital is pleased to renew a $10,000,000 acquisition/predevelopment line of credit to Hispanic Housing Development Corporation (HHDC). The renewal of this line of credit will allow for significant investment in new operating property acquisitions and will support predevelopment costs for HHDC’s development pipeline.
How Financial Co-ops Are Helping Puerto Rico Rebuild — and Why It Matters for New York
- San Juan,
- Puerto Rico
- Inclusiv
The banking industry in Puerto Rico, much like on the mainland, has always catered to wealthier consumers and businesses, rather than low-income people and communities. The financial cooperative system in Puerto Rico goes back at least 50 years and emerged for the same reasons as credit unions on the mainland, including lack of access to financial services. Large numbers of Puerto Ricans have long been disenfranchised from the financial system. The cooperative financial system in Puerto Rico is very strong. One in three Puerto Ricans — more than one million people — are members of these cooperativas. That network of 125 cooperativas has been part of the DNA of Puerto Rican communities, rural communities especially, for generations.
Inclusiv Puerto Rico CDFI Initiative
- San Juan,
- Puerto Rico
- Inclusiv
The success of the Puerto Rico CDFI Initiative is a testament to the power of partnerships and to the resolve of financial cooperatives to obtain resources for the benefit of the communities they serve. The CDFI transformation is now a reality, and we are proud to continue to work to help cooperativas gain access to resources that were only available to CDFI’s in the mainland.
Inclusiv Story – Cooperativa La Sagrada Familia CU
- Corozal,
- Puerto Rico
- Cooperativa De Ahorro y Credito La Sagrada Familia
Cooperativa La Sagrada Familia promotes community development by providing capital and financial services to individuals and communities that are typically not served by traditional financial institutions, and improves their quality of life through an effective dissemination of the values and principles of the Cooperative Movement.
OFN Story: Puerto Rican School, Backed By CDFI Support, Changes Lives Through Hands-On Education
- Dorado,
- Puerto Rico
- The Sunlight Loan Fund
Created 46 seats in a dual-language Montessori school, in a community where more than half of residents face poverty
Puerto Rico Food Entrepreneur Reaches $1 Million in Revenue with CDFI Financing (OFN Story)
- San Juan,
- Puerto Rico
- Corporacion Para El Financiamiento Empresarial Del Comercio Y De Las Comunidades
Growth of woman-owned business in Puerto Rico
Skootel
- San Juan,
- Puerto Rico
- Community Development and Affordable Housing Fund
After spending almost a decade in Silicon Valley, two visionary Stanford alumni, Juan Carlos Parra and Aldo Briano, returned to their home island of Puerto Rico, intent on creating a company that would generate employment and make eco-friendly transportation more accessible for Puerto Ricans. With the launch of Skootel, in August 2019, Juan and Aldo introduced the first micromobility service in Puerto Rico, offering eco-friendly transportation alternatives through an innovative app-based platform.
The Teller Window: Building the CDFI Sector in Puerto Rico
- San Juan,
- Puerto Rico
- Inclusiv, Opportunity Finance Network
Puerto Rico’s community development financial institution (CDFI) sector has grown 15-fold over the last decade following a collaboration that brought together leaders from government, community development finance, and Puerto Rico’s credit unions, known as cooperativas.
CDFI Branches in the State
Caribe Federal Credit Union
- FEDE
- , San Juan
Caribe Federal Credit Union
- Guaynabo -Las Cumbres Branch
- , Guaynabo
Caribe Federal Credit Union
- MAIN
- , San Juan
Caribe Federal Credit Union
- Ponce Branch
- , Ponce
Caribe Federal Credit Union
- Headquarters
- , San Juan
Coop Ahorro y Credito Lomas Verdes
- Headquarters
- , BAYAMON
COOP CIAPR
- Headquarters
- , San Juan
Cooperativa Ahorro y Credito Roosevelt Road
- Headquarters
- , Fajardo
COOPERATIVA COMUNAL DE AHORRO Y CREDITO OFICIALES DE CUSTODIA
- Headquarters
- , San Juan
Cooperativa de A/C de Maunabo
- Headquarters
- , Maunabo
Cooperativa de A/C Dr M Zeno Gandia
- Headquarters
- , Arecibo
COOPERATIVA DE AHORRO Y CREDITO AGUADILLA
- Headquarters
- , AGUADILLA
Cooperativa de Ahorro y Credito Aibonitena
- Headquarters
- , Aibonito
Cooperativa de Ahorro y Credito Autoridad de Carreteras y Obras Publicas
- Headquarters
- , San Juan
Cooperativa de Ahorro y Credito Barranquitas
- Headquarters
- , Barranquitas
Cooperativa de Ahorro y Credito Bo. Quebrada de Camuy P.R.
- Headquarters
- , Camuy
Cooperativa de Ahorro y Credito Caguas
- Headquarters
- , Caguas
Cooperativa de Ahorro y Credito Centro Gubernamental Minillas (Gubecoop)
- Headquarters
- , San Juan
Cooperativa De Ahorro Y Credito Cidrena
- Headquarters
- , Cidra
COOPERATIVA DE AHORRO Y CREDITO CUPEY ALTO
- Headquarters
- , Cupey Alto
Cooperativa de Ahorro y Credito de Adjuntas
- Headquarters
- , Adjuntas
Cooperativa de Ahorro y Credito de Arecibo d/b/a COOPACA
- Headquarters
- , Arecibo
Cooperativa de Ahorro y Credito de Cabo Rojo
- Headquarters
- , Cabo Rojo
COOPERATIVA DE AHORRO Y CREDITO DE ISABELA
- Headquarters
- , Isabela
Cooperativa de Ahorro y Credito de Jayuya Incorporada
- Headquarters
- , Jayuya
Cooperativa de Ahorro y Credito de Juana Diaz
- Headquarters
- , Juana Diaz
Cooperativa De Ahorro Y Credito De La Asociacion De Maestros De Puerto Rico
- Headquarters
- , San Juan
COOPERATIVA DE AHORRO Y CREDITO DE LA FEDERACION DE MAESTROS DE PUERTO RICO (FEDECOOP)
- Headquarters
- , Rio Piedras
Cooperativa de Ahorro y Credito de la Industria Biofarmaceutica
- Headquarters
- , Carolina
COOPERATIVA DE AHORRO Y CREDITO DE LA UNIVERSIDAD DE PUERTO RICO (UNIVERSICOOP)
- Headquarters
- , San Juan
Cooperativa de Ahorro y Credito de Lajas
- Headquarters
- , Lajas
Cooperativa De Ahorro Y Credito De Lares
- Headquarters
- , LARES
COOPERATIVA DE AHORRO Y CREDITO DE LOS AGENTES DE LA LOTERIA DE PUERTO RICO
- Headquarters
- , SAN JUAN
Cooperativa De Ahorro Y Credito De Los Empleados De La Corporacion Del Fondo Del Seguro De Estado
- Headquarters
- , SAN JUAN
Cooperativa de Ahorro y Credito de los Empleados del Departamento de Hacienda
- Headquarters
- , San Juan
COOPERATIVA DE AHORRO Y CREDITO DE MANATI
- Headquarters
- , Manati
Puerto Rican Fund for Growth Supports Puerto Rican Agribusiness
The Community Development Venture Capital Alliance (CDVCA) is pleased to announce that the Puerto Rico Fund for Growth, L.P. has invested $4 million in Semillero Investment Fund I, LLC (“Semillero”), an agribusiness, private equity fund based on the island. Semillero will focus on investing in sustainable food and agriculture businesses with a view to substitute food imports with local production in Puerto Rico. We are excited about this because, even before the hurricane, 85% of food and beverage consumed in Puerto Rico was imported. The opportunity for import substitution of just 15% of those imports is a $1 billion market, which has the potential to create jobs and economic value across the island’s economy, the significance of which is only amplified in the wake of Hurricane Maria.