2024-08-07T13:04:15-07:00 2023-12-31 660722537 Llavona Casas CPA PSC CENTRO INTERNACIONAL DE MERCADEO TORRE 1 100 CARR 165 SUITE 708 GUAYNABO PR 00968 990 2023-01-01 660220429 COOPERATIVA DE AHORRO Y CREDITO DE MANATI INC COOP 7878542214 PO BOX 30562 MANATI PR 00674 CANDIDO RIVERA EXECUTIVE PRESIDENT 7876228855 2024-07-24 1 1 Fernando Llavona P01474680 7877648664 2024-08-13 2023 2024-10-15 13:58:12Z CANDIDO RIVERA PO BOX 30562 MANATI PR 00674 21196699 0 X WWW.COOPMANATI.COM X CREDIT UNION 1948 PR TO OBTAIN SAVINGS DEPOSITS FROM ITS MEMBERS AS SHARES AND DEPOSITS AND PROVIDES FINANCNIG SOURCES IN ACCORDANCE WITH THE COOPERATIVE MOVEMENT PHILOSOPHY. 9 9 116 0 0 0 125000 3000000 9329756 13317182 1770309 1514221 1721410 3365296 12946475 21196699 0 81448 0 3101668 4219464 0 0 6798099 11002752 9981215 15222216 2965260 5974483 217103471 295329329 181584519 242958667 35518952 52370662 TO OBTAIN SAVINGS DEPOSITS FROM ITS MEMBERS AS SHARES AND DEPOSITS AND PROVIDES FINANCING SOURCES IN ACCORDANCE WITH THE COOPERATIVE MOVEMENT PHILOSOPHY. 0 0 DURING THE FISCAL YEAR ENDED DECEMBER 31, 2023 THE INSTITUTION OBTAINED DEPOSIT FROM MEMBERS AND CONTINUE PROVIDING TO THEM AND THE COMMUNITY FINANCING SOURCES ALTERNATIVES WITH LOANS AT AFFORDABLE TERMS AS WELL AS ACCESSIBILITY TO TECHNOLOGY IN CHECKING, SAVING ADN CREDIT PRODUCTS TO MANAGE THEIR PERSONAL FINANCES. 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 116 1 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 PR X COOPERATIVA A C DE MANATI 7878542214 68 PASEOS DEL ATENAS MANATI PR 00674 CANDIDO RIVERA LOPEZ EXECUTIVE PRESIDENT 50 0 X 160200 0 0 SORRY ADROVET VICE PRESIDENT PRESIDENT COMMERCIAL AND MORTGAGE 50 0 X 70963 0 0 ANDERSON MARTINEZ COLON VICE PRESIDENT OF FINANCE 50 0 X 68784 0 0 JOSEAN PAGAN KUILAN VICE PRESIDENT OF OPERATIONS 50 0 X 58920 0 0 NORAIDA RODRIGUEZ CONCEPCION OFFICE COMPLIANCE 50 0 X 47278 0 0 IRIS ROMERO DEPARTMENT MANAGER SYSTEMS 50 0 X 46542 0 0 MILAGROS ROMERO VICE PRESIDENT ADMINISTRATION 50 0 X 46041 0 0 MARIA MELENDEZ ZAYAS LOAN MANAGER 50 0 X 44211 0 0 BRIGMARIAN SANCHEZ HUMAN RESOURCES OFFICER 50 0 X 42587 0 0 DIANA NEGRON JIMENEZ INTERNAL AUDITOR 50 0 X 42090 0 0 VANESSA ROMERO SUCCESS MANAGER MANATI PLAZA 50 0 X 40601 0 0 SHERLY MUNOZ SUC MANAGER VEGA BAJA 50 0 X 39345 0 0 YOLANDA OTERO SUCCESS MANAGER BARCELONETA 50 0 X 37283 0 0 LUIS ROBLES DEPARTMENT MANAGER COLLECTIONS 50 0 X 35663 0 0 EMILY CARNEVALE SUCCESS MANAGER CALES CENTER 50 0 X 35639 0 0 ZALLIA CARDONA EXECUTIVE SECRETARY 50 0 X 31310 0 0 SAGER RODRIGUEZ SUCCESS MANAGER EXPRESS CALES 50 0 X 29828 0 0 RICARDO ALVAREZ CLAS BOARD OF DIRECTORS 40 0 X 0 0 0 JOEL ROLON ALINDATO BOARD OF DIRECTORS 40 0 X 0 0 0 CARLOS COLON RAMOS BOARD OF DIRECTORS 40 0 X 0 0 0 ANIBAL DELGADO BOARD OF DIRECTORS 40 0 X 0 0 0 DORIS CLASS BOARD OF DIRECTORS 40 0 X 0 0 0 HECTOR AULET MEJIAS BOARD OF DIRECTORS 40 0 X 0 0 0 HERIBERTO MARTINEZ GONZALEZ BOARD OF DIRECTORS 40 0 X 0 0 0 CARMEN SOTO CABAN BOARD OF DIRECTORS 40 0 X 0 0 0 ANGEL NOGUERAS BOARD OF DIRECTORS 40 0 X 0 0 0 877285 0 0 1 0 1 0 NMP CONTRATISTA LLC URB LAS PRADERAS AGUMARINA 1220 BARCELONETA PR 00617 CONTRACTOR 238736 1 0 0 0 0 3000000 0 0 3000000 MEMBERS LOANS INTEREST 522130 13317182 13317182 0 0 0 0 0 0 13317182 1514221 1514221 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3365296 3365296 0 0 3365296 21196699 18196699 0 0 X 877285 877285 2361072 2361072 249797 249797 358092 358092 373218 373218 463116 463116 531042 531042 300378 300378 111595 111595 116757 116757 61836 61836 2623836 2623836 683638 683638 1223869 1223869 REPAIRS AND MAINTENACE 573290 0 573290 0 UTILITIES 400085 0 400085 0 BANK & CREDIT CARD SERV EXP 250138 0 250138 0 AMORTIZATION LOSS LAW 220 454445 0 454445 0 3208727 3208727 15222216 0 15222216 0 5740999 11406857 9201926 7800000 3759291 127394755 184839274 656738 18812735 9540450 7741290 9272285 47885747 46723196 10981000 15758052 3741725 19529665 217103471 295329329 3658855 5421848 177925664 237536819 181584519 242958667 X 25768477 37786384 0 0 9750475 14584278 35518952 52370662 217103471 295329329 X 5974483 0 0 0 0 10877227 X 0 1 X 1 0 2899012 0 2899012 3509260 0 611595 2897665 6145746 0 3956134 2189612 6100914 0 4859976 1240938 157803 0 112745 45058 9272285 BANCO COOP DE PR 9885633 C COSSEC 3055123 C COOP DE SEGUROS MULTIPLES 1459063 C FIDECOOP 414617 C COSVI 903126 C OTHER COOPERATIVA ENTITIES 40490 C 15758052 LOSS UNDER SPECIAL AMORTIZATION 2045005 DEFERRED ACQUISITION COST - CAPITAL GAINS 4986558 ACCOUNTS RECEIVABLE-COSSEC 6160108 BUILDING IN PROGRESS 1053688 REPOSSESSED PROPERTIES 1415162 BONDS, INSURANCE AND PREPAID EXPENSES 557602 MATERIALS INVENTORY 36208 DEPOSIT FOR BUILDING ACQUISITION 160000 OTHER ACCOUNTS RECEIVABLE 1701715 EFFECT ON ATH NETWORK TRANSIT 243189 INTEREST RECEIVABLE 1170430 19529665 DEPOSIT IN SAVING ACCOUNTS 145808900 DEPOSIT IN SAVING CERTIFICATES 90982735 CHRISTMAS & SUMMER ACCOUNT 745184 237536819 21196699 0 0 0 0 0 21196699 0 0 0 21196699 15222216 0 0 0 0 0 15222216 0 0 0 15222216 0 0 0 CANDIDO RIVERA LOPEZ EXECUTIVE PRESIDENT 160200 0 0 0 0 0 0 0 0 0 160200 0 0 0 Form 990, Part VI, Section A, Line 6 Classes of Members or Stockholders THE INSTITUTION IS COMPOSED OF MEMBERS WHO JOIN VOLUNTARY TO MEET THEIR ECONOMIC AND SOCIAL NEEDS. Form 990, Part VI, Section A, Line 7a Election of Members and Their Rights THE MEMBERS OF THE ORGANIZATION HAD THE POWER TO ELECT THE BOARD OFDIRECTORS FOR DIFFERENT TERMS AS PROVIDED BY THE LAW 255 DURING THE ANNUAL MEETING OF THE MEMBERS WHICH IS HELD DURING THE SIX MONTHS FOLLOWING THE CLOSING OF THE FISCAL YEAR OF THE ORGANIZATION. THE BOARD OF DIRECTORS IS IN CHARGE OF THE GOVERNANCE DECISIONS OF THE ORGANIZATION. Form 990, Part VI, Section B, Line 11b Organization's Process to Review Form 990 THE RETURN IS REVISED BY THE COMPTROLLER OF THE INSTITUTION AND THEN THE EXECUTIVE PRESIDENT AND THE PRESIDENT OF THE BOARD OF DIRECTORS ARE NOTIFIED THAT THE RETURN WAS PREPARED WITH ALL THE REQUISITES REQUIRED BY THE IRS AND THAT IT IS AVAILABLE FOR THE REVISION OF THEM AND ANY MEMBERS OF THE BOARD OF DIRECTORS. Form 990, Part VI, Section B, Line 12c Enforcement of Conflicts Policy THE COMPLIANCE DEPARTMENT OF THE INSTITUTION ARE IN CHARGE OF THE MONITORING OF THE PROCESS, TRANSACTIONS, ACCOUNT DETAILS, AMONG OTHER ASPECT RELATED TO MATTERS INVOLVING THE CONFLICT OF INTEREST. IN ACCORDANCE WITH THE ETHIC CODE ALL EMPLOYEES ARE REQUIRED TO REPORT ANY VIOLATION. Form 990, Part VI, Section B, Line 15 Compensation Process for Officers THE DETERMINATION IS PERFORM USING DATA OF SIMILAR POSITION IN OTHER CREDIT UNIONS IN PUERTO RICO. Form 990, Part VI, Section C, Line 19 Governing Documents Disclosure Explanation THE CREDIT UNION HAS AVAILABLE ITS FINANCIAL STATEMENTS, MEMBERS MANUAL, BROCHURE, AND THE PRIVACY POLICY TO PUBLIC INSPECTION. Form 990, Part IX, Line 24e MANAGEMENT OF THE "ATH" ATM NETWORK SYSTEM AND ELECTRONIC TRANSACTIONS $170,603; BANK CHARGES $328,114; OPERATING LEASES $233,299; EXPENSE MANAGEMENT BODY $42,420; CREDIT REPORTING SERVICES $75,005; DONATIONS AND HELP TO THE COMMUNITY $7,424; TRANSPORTATION OF FUNDS AND FREIGHT $40,931; SECURITY AND VIGILANCE $74,962; EMPLOYEE ACTIVITIES $66,316; COOPERATIVE EDUCATION AND SEMINARS $56,094; COOPERATIVE LEAGUE CONTRIBUTION $ 56,094; SALES AND USE TAXES (IVU) $145,743; AMORTIZATION DEFERRED ACQUISITION COST-GOODWILL $262,450; REPAIRS REPOSSESSED PROPERTIES $56,953; PROVISION AND LOSSES ON PROPERTY SALES REPOSSESSED $174,364; OTHER GROUPED EXPENSES $690,418. Form 990, Part XI, Line 9 INCREASES IN SHARE $12,017,907; INCREASES IN CAPITAL RESERVE $125,506; INCREASES IN CONTINGENCY RESERVE $2,528,153; INCREASES IN CONTINGENCY RESERVE 10% $297,448; INCREASES IN COMPRESSING INCOME $1,582,696; SURPLUS $-5,674,483.