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Institutions

Public Corporation for the Supervision and Insurance of Cooperatives

The state-level corporation that supervises cooperatives and administers share and deposit insurance for savings and credit cooperatives in its system. It combines risk prevention, examinations, member protection, and complaints. It also supervises nonfinancial cooperatives within its statutory scope; promoting and forming cooperative enterprises is primarily CDCOOP’s role.

Art. 4(a)–(c) ↗Addressees; supervisory role ↗Art. 9(q) ↗ · Sources consulted:

Public Corporation for the Supervision and Insurance of Cooperatives · Corporación Pública para Supervisión y Seguro de Cooperativas (COSSEC) · COSSEC · PROSAD-COOP · PROSAD · Corporación de Seguro de Acciones y Depósitos de Cooperativas de Ahorro y Crédito

COSSECState-levelActive

Spanish legal name: Corporación Pública para la Supervisión y Seguro de Cooperativas de Puerto Rico. Spanish legal names are retained. Some English names are functional translations.

Official websiteThe mapPractice
Government level
State-level
Branch or grouping
Independent bodies
Type
Public corporation
Sources consulted
Oct 18, 2026

What it does

  • Supervises and examines cooperative operations, reviews financial information, and can require measures to reduce risk. Its 2026 priorities letter describes a preventive approach based on each institution’s condition and risks; a regulatory examination does not replace the cooperative’s own board and management responsibilities.Arts. 4(b), 18 ↗Art. 18 ↗Purpose; board and management responsibilities ↗ · Sources consulted:
  • Administers share and deposit insurance: determines eligibility, receives premiums, and carries out the guarantee under the statute and regulations. Protection concerns covered shares and deposits; it does not turn every cooperative product, investment, or loss into an insured claim.Arts. 3(w), 9(n), (p), 10–12 ↗Art. 9(n), (p) ↗Arts. 10–11 ↗Art. 14 ↗ · Sources consulted:
  • May receive, investigate, and resolve complaints, impose fines, and issue orders within its administered laws. Its portal distinguishes complaints, petitions, and reports: asking for a claim to be resolved differs from reporting a possible irregularity.Art. 4(d)(12)–(17) ↗Electronic complaint; petition; report ↗ · Sources consulted:
  • Has intervention tools for serious problems, including receivership and merger, consolidation, or asset-and-liability transactions, subject to legal procedures. Supervising a cooperative does not mean permanently managing each business decision; intervention requires specific grounds and authority.Arts. 4(d)(9), 20 ↗Art. 20 ↗ · Sources consulted:

In everyday life

If a member believes a cooperative violated a rule within COSSEC’s jurisdiction, the official filing service helps distinguish a complaint, petition, or report. Describe the facts and identify the cooperative and relevant documents. The government portal requires registration; submitting a matter does not guarantee an outcome or automatically activate insurance.Electronic-service descriptions ↗Sign-in and registration ↗Art. 4(d)(12) ↗ · Sources consulted:

Budget & finance ↗

How to distinguish it from other institutions

CDCOOP promotes and coordinates cooperative public policy; COSSEC exercises supervision and insurance duties. COSSEC’s attachment to CDCOOP preserves distinct responsibilities and resources: Commission decisions cannot impair the insurance fund’s integrity and actuarial sufficiency.Arts. 9(g), 16 ↗Art. 16 ↗Art. 16 ↗ · Sources consulted:

Do not assume every cooperative uses the same insurer. Article 10 recognizes an option for cooperatives already insured by NCUA when the statute took effect. A COSSEC-insured cooperative must display the corresponding notice. Identifying an account’s insurer differs from determining whether a particular loss is covered.Arts. 10, 11(b)(6) ↗Art. 11(b)(6) ↗ · Sources consulted:

Official services and information

Confirm requirements, forms, and schedules on the linked official portal.

Where it fits

Map groupings support navigation; they do not themselves establish reporting authority.

Legal basis

Act 114-2001 reorganizes the former PROSAD-COOP corporation with legal and financial continuity. Act 247-2008 attaches COSSEC to CDCOOP and transfers the functions of the dissolved Cooperative Inspector’s Office to it. Governance also requires reading Acts 99-2024 and 205-2024: the five-director reform has effectiveness conditions and is not presented here as an implemented structure.Arts. 4(a), 40 ↗Art. 40 ↗Arts. 15–16 ↗Art. 16 ↗Sections 11–12 ↗Section 3 ↗ · Sources consulted:

The enabling reference is a reading aid. Consult applicable texts and amendments in official sources; directory cards can retain older references.

Leadership & appointments

Executive President

Act 205-2024 reproduces appointment of the Executive President by two thirds of COSSEC’s Board, including at least two cooperative representatives, with approval by seven of CDCOOP’s ten Governing Board members; that approval is ratified every three years. The Executive President serves at the pleasure of COSSEC’s Board. The August 2026 letter identifies Mabel Jiménez Miranda as Executive President. This differs from chairing the Board of Directors. Her individual appointment instrument and ratifications are unverified.Section 3: article 9 opening paragraph ↗Section 3: article 9 continued ↗Signature and office ↗ · Sources consulted:

Mabel Jiménez Miranda

Sources consulted: Oct 18, 2026 · Sources & method ↓

Appointment
Verification pending
Confirmation
Verification pending
Term end
Verification pending

Governance & composition

The model preceding the conditional reform has nine seats: CDCOOP commissioner, as chair; OCIF commissioner; Hacienda; the GDB seat replaced by AAFAF under Act 2-2017; three representatives elected by insured cooperatives (one director and two executives); the Cooperative League; and a public-interest representative. Elected members have three-year terms, with a maximum of three consecutive terms. The public representative is selected by three quarters of the other eight, for three years with holdover until a successor, without a second term. The July 2026 notice applies the cooperative election process. Quorum is five; adopting regulations requires two thirds of the full Board at an extraordinary meeting. The list of people and delegations is not fully reconciled.Art. 5(a)–(d) ↗Art. 5(b)–(c) ↗Art. 5(d) ↗Arts. 5(d), 6, 7(a)(i) ↗Art. 16 ↗Representative election ↗Section 12: conditional effectiveness ↗ · Sources consulted:

Published memberSeat or representationTerm end
Liza I. Alfaro MercadoCDCOOP commissioner; chairs the Board (July 2026 letter)Verification pending
Mónica Rodríguez VillaOCIF commissioner; seat through public officeVerification pending

Members, vacancies, and terms are not certified as a complete roster. An expired term is not automatically treated as a vacancy; some laws allow service until a successor qualifies.

Sources consulted: Oct 18, 2026

Open research

Act 99-2024 provides a five-member Board and a different executive appointment process, but section 12 conditions those reforms on completion of impairment mitigation. In its May 2026 court filing, the Oversight Board stated that the law had not been implemented to its knowledge; this is that party’s reported position, not a court judgment certified by this profile. COSSEC’s July 2026 letter still uses cooperative-representative elections. The profile preserves that evidence and the statutory condition rather than inferring an operative five-member Board from the compilation.Sections 4–5, 12 ↗Section 5 ↗Section 12 ↗Paragraph 62 and continuation, Act 99-2024 ↗Continuation on nonimplementation ↗Representative election ↗ · Sources consulted:

The About COSSEC page labels both Liza Alfaro and Glorimar Lamboy as Board chair. The July 31, 2026 letter is signed by Liza I. Alfaro Mercado as chair and supplies a more precise dated reference. A nomination notice does not establish the later election result or a vacancy. Mabel Jiménez Miranda appears as Executive President, a different role; her placement under that web heading alone does not establish Board membership.Published Board list ↗Signature and election call ↗Executive President’s signature ↗ · Sources consulted:

Article 9(s) provides for COSSEC Board review of Executive President decisions and judicial review of that Board’s final decision. CDCOOP’s power to resolve public-policy inconsistencies in rules does not thereby become a general appeal of each individual complaint.Art. 9(s) ↗Art. 13(b) ↗Art. 4.006(c) ↗ · Sources consulted:

Sources & method

The consultation date is not the institution’s own update date.

  1. PR.gov — Corporación Pública para Supervisión y Seguro de Cooperativas (COSSEC) ↗https://pr.gov/directorio-de-agencias/corporacion-publica-para-la-supervision-y-seguros-de-cooperativas-de-pr-cossec-0Sources consulted: Oct 17, 2026
  2. Ley 114-2001 — COSSEC, compilación con enmiendas incorporadas y vigencia por conciliar ↗https://bvirtualogp.pr.gov/ogp/Bvirtual/LeyesOrganicas/Pages/114-2001.pdfSources consulted: Oct 18, 2026 · Document revised: Sep 24, 2024
  3. COSSEC — Carta Informativa 2026-23 a cooperativas de tipos diversos, firmada por Mabel Jiménez Miranda ↗https://docs.pr.gov/files/COSSEC/Documentos%20Cooperativas/Cartas%20Informativas/CARTA%20INFORMATIVA%202026/2026-23.pdfSources consulted: Oct 18, 2026 · Published: Aug 31, 2026
  4. Ley 247-2008 — Comisión de Desarrollo Cooperativo (compilación OGP) ↗https://bvirtualogp.pr.gov/ogp/Bvirtual/LeyesOrganicas/Pages/247-2008.pdfSources consulted: Oct 18, 2026 · Document revised: Apr 16, 2024
  5. COSSEC — Carta Informativa 2026-04: prioridades de supervisión para 2026 ↗https://docs.pr.gov/files/COSSEC/Documentos%20Cooperativas/Cartas%20Informativas/CARTA%20INFORMATIVA%202026/2026-04.pdfSources consulted: Oct 18, 2026 · Published: Jan 23, 2026
  6. COSSEC — Servicios de querella, denuncia y peticiones; repositorio institucional ↗https://www.cossec.pr.gov/Sources consulted: Oct 18, 2026
  7. COSSEC — Portal oficial de radicaciones electrónicas y registro ↗https://radicaciones.cossec.pr.gov/Sources consulted: Oct 18, 2026
  8. Ley 99-2024 — Reforma fiscal de COSSEC y condiciones de vigencia (secs. 4–5, 11–12) ↗https://bvirtualogp.pr.gov/ogp/Bvirtual/leyesreferencia/PDF/2020/0099-2024.pdfSources consulted: Oct 18, 2026 · Published: Jun 25, 2024
  9. Ley 205-2024 — Prevención de explotación financiera; sección 3 reproduce el nombramiento ejecutivo de COSSEC ↗https://bvirtualogp.pr.gov/ogp/Bvirtual/leyesreferencia/PDF/2020/0205-2024.pdfSources consulted: Oct 18, 2026 · Published: Sep 17, 2024
  10. Ley 114-2001 — Versión OGP anterior a las enmiendas 99 y 205 de 2024 ↗https://bvirtualogp.pr.gov/ogp/Bvirtual/leyesreferencia/PDF/Cooperativas/114-2001/114-2001_Anterior.pdfSources consulted: Oct 18, 2026 · Document revised: Jan 9, 2025
  11. Ley 2-2017 — AAFAF: organización, facultades y sucesión de asientos (compilación OGP) ↗https://bvirtualogp.pr.gov/ogp/Bvirtual/LeyesOrganicas/Pages/2-2017.pdfSources consulted: Oct 18, 2026 · Document revised: Jul 2, 2026
  12. COSSEC — Carta Informativa 2026-21: elección de representante de ejecutivos de cooperativas aseguradas ↗https://docs.pr.gov/files/COSSEC/Documentos%20Cooperativas/Cartas%20Informativas/CARTA%20INFORMATIVA%202026/CARTA%20INFORMATIVA%202026-21.pdfSources consulted: Oct 18, 2026 · Published: Jul 31, 2026
  13. JSF — Informe de estatus presentado al tribunal el 18 de mayo de 2026, ECF 6159, sección sobre Ley 99-2024 ↗https://document.epiq11.com/document/getdocumentbycode?docId=4578139&projectCode=PR1&source=DMSources consulted: Oct 18, 2026 · Published: May 18, 2026
  14. COSSEC — Historia y lista publicada de Junta de Directores, con rótulos de presidencia en conflicto ↗https://www.cossec.pr.gov/sobre-cossecSources consulted: Oct 18, 2026
  15. Ley 201-2003 — Ley de la Judicatura (compilación OGP) ↗https://bvirtualogp.pr.gov/ogp/Bvirtual/LeyesOrganicas/Pages/201-2003.pdfSources consulted: Oct 18, 2026 · Document revised: May 21, 2026
  16. OCIF — Comunicado oficial de puesta en marcha de FIRE, 1 de octubre de 2026 ↗https://docs.pr.gov/files/OCIF/AVISOS-PUBLICOS/20260930%20Comunicado%20Oficial%20-%20Puesta%20en%20Marcha%20de%20FIRE%20System.pdfSources consulted: Oct 18, 2026 · Published: Oct 1, 2026
  17. Ley 4 de 11 de octubre de 1985 — OCIF y Junta Financiera (compilación OGP) ↗https://bvirtualogp.pr.gov/ogp/Bvirtual/LeyesOrganicas/Pages/4-10-1985.pdfSources consulted: Oct 18, 2026 · Document revised: Sep 24, 2024
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