2024-07-19T11:06:10-07:00 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 660206444 COOPERATIVE DE AHORRO Y CREDITO DE LARE COOP 7878972220 PO Box 362 LARES PR 006692505 CARLOS DE JESUS EXECUTIVE PRESIDENT 7878972220 2024-07-16 1 1 Fernando Llavona P01474680 7877648664 2024-07-05 X 2023 2024-08-08 14:25:15Z CARLOS DE JESUS PO Box 362 LARES PR 00669 15865234 0 X LARCOOP.COM X 1949 PR IT IS A NON PROFIT ORGANIZATION AND IS PRIMARILY DEDICATED TO RECEIVE SAVINGS FROM ITS MEMBERS IN THE FORM OF SHARES AND DEPOSITS. 11 11 72 0 0 0 0 0 0 0 9782263 11508702 2519100 4356532 12301363 15865234 0 0 0 0 2980277 3160196 0 0 0 6138880 6925934 9119157 10086130 3182206 5779104 209138285 222090136 156690447 161222848 52447838 60867288 SAVINGS AND CREDIT UNION OPERATION 0 0 INTERES INCOME AND OTHER INCOME OF $15,865,234 AND TOTAL EXPENSES OF $10,086,130. 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 72 1 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 1 1 1 1 1 0 1 1 1 1 0 1 1 1 1 1 0 PR X COOP AHORRO Y CREDITO LARES 7878972220 PO BOX 362 LARES PR 006692505 CARLOS DE JESUS PRESIDENT 40 0 X 116688 0 0 JOSE J MERCADO MEDINA MANAGER OF OPERATIONS 40 0 X 78000 0 0 CARLOS J CENTENO PEREZ MANAGER OF DEPARMET CON SYSTEM 40 0 X 72280 0 0 MOISES TOMASSINI RODRIGUEZ MANAGER 40 0 X 69680 0 0 JOHNNY MONTANEZ VARGAS CONTROLLER 40 0 X 66040 0 0 ISRAEL RIVERA RIVERA MANAGER 40 0 X 65000 0 0 ENID G SOTO VELAZQUEZ OFICCER OF COMPLIENCE 40 0 X 59280 0 0 ANELIS SANCHEZ PEREZ HUMAN RESOURCES OFFICER 40 0 X 56160 0 0 JAHEIRA CUEVAS ACCOUNTING SUPERVISOR 40 0 X 55120 0 0 JEANNETTE JIMENEZ RODRIGUEZ MANAGER 40 0 X 49920 0 0 EDUARD IRIZARRY JIMENEZ MANAGER 40 0 X 49920 0 0 MARYBELIS ACEVEDO ORTIZ MANAGER 40 0 X 45760 0 0 783848 0 0 1 0 0 0 SHERIFF SECURITY SERVICES INC CARR 1 KM 19 9 BO TORTUGO RIO PIEDRAS PR 00926 SECURITY 137694 1 0 0 11508702 11508702 0 0 0 0 0 0 0 0 0 0 0 0 0 0 4356532 4356532 0 0 4356532 15865234 15865234 0 0 X 783848 783848 1820912 1820912 122642 122642 180184 180184 252610 252610 170430 170430 199317 199317 169608 169608 63534 63534 17319 17319 102187 102187 927368 927368 574476 574476 776489 776489 UTILITIES 314204 0 314204 0 MAINTENANCE EQUIPMENT 382425 0 382425 0 MAINTENANCE OF ATM SYSTEM 353018 0 353018 0 PROVISION OF BAD LOANS 1376530 0 1376530 0 1499029 1499029 10086130 0 10086130 0 30392451 28226092 1450000 1000000 118613415 129441481 401082 107575 22596519 8410708 14618311 14185811 35183452 39759994 5696935 5873357 2782639 3495826 209138285 222090136 1886806 1871114 154803641 159351734 156690447 161222848 X 39741442 39988778 12345794 20128510 360602 750000 52447838 60867288 209138285 222090136 X 5779104 0 0 0 0 2640346 X 0 1 X 1 1 1 1923597 0 1923597 15193883 0 3338962 11854921 972420 0 801680 170740 4336345 0 4169342 167003 170274 0 100724 69550 14185811 DEPOSITS AND CERTIFICATED OF DEPOSITS 159351734 159351734 15865234 0 0 0 0 0 15865234 0 0 0 15865234 10086130 0 0 0 0 0 10086130 0 0 0 10086130 Form 990, Part VI, Section A, Line 6 THE ORGANIZATION HAS MEMBERS CALLED "SOCIOS". EACH MEMBER CONTRIBUTES AT LEAST 120 DOLLARS IN SHARES. Form 990, Part VI, Section A, Line 7a EACH YEAR THE ORGANIZATION PERFORMS ITS ANNUAL STOCKHOLDERS MEETING WHERE MEMBERS OF THE GOVERNING BOARD ARE ELECTED FOR THREE YEAR PERIOD. Form 990, Part VI, Section A, Line 7b ONLY THOSE AFFECTING GENERAL RULES. Form 990, Part VI, Section B, Line 11b THE ORGANIZATION HAS TO SEND EVERY THREE MONTHS A REPORT ON COMPLIANCE WITH LAWS AND REGULATIONS TO THE REGULATOR IN THIS CASE COSSEC. Form 990, Part VI, Section B, Line 12c THE ORGANIZATION HAS TO SEND EVERY THREE MONTHS A REPORT ON COMPLIANCE WITH LAWS AND REGULATIONS TO THE REGULATOR IN THIS CASE COSSEC. Form 990, Part VI, Section B, Line 15 THE BOARD OF DIRECTORS PERFORMS ITS ANNUAL STOCKHOLDERS MEETING WHERE MEMBERS OF THE GOVERNING BOARD ARE ELECTED FOR A THREE-YEAR PERIOD. ALSO AUDITED FINANCIAL STATEMENTS ARE DISCUSSED BY THE BOARD OF DIRECTOR WITH MEMBERS. FINANCIAL STATEMENTS ARE AVAILABLE FOR EACH MEMBER AT THE ANNUAL MEETING. Form 990, Part VI, Section C, Line 19 ALSO THE CEO HAS AN EMPLOYMENT FORMAL CONTRACT OR AGREEMENT EACH YEAR ALSO THE CEO HAS AN EMPLOYMENT FORMAL CONTRACT OR AGREEMENT EACH YEAR ELECTED FOR A THREE-YEAR PERIOD. ALSO AUDITED FINANCIAL STATEMENTS ARE DISCUSSED BY THE BOARD OF DIRECTORS WITH MEMBERS. FINANCIAL STATEMENTS ARE AVAILABLE FOR EACH MEMBER AT THE ANNUAL MEETING. Form 990, Part IX, Line 24e EXPENDITURE OF MANAGEMENT CREDIT CARD $318,176; BANK SERVICES $36,079; DIRECTOR EXPENSES $120,790; SERVICES OF CREDIT REPORTS $45,247; DONATIONS $13,528; FREIGHT OF FUNDS $28,069; SECURITY $138,112; PUBLIC RELATION $356,744;EDUCATION $76,920; PROVISION AND LOSSES ON PROPERTY SALES REPOSSESSED $39,232; OTHER EXPENSES $326,132. Form 990, Part XI, Line 9 INCREASES IN SHARE $247,336; INCREASES RESERVE CAPITAL INDIVISIBLE $152,899; INCREASES IN RESERVE CONTIGENCIES OF 10% OF NET INCOME $305,797; INCREASES IN CONTIGENCIES RESERVE $5,370,408; INCREASES IN CAPITAL SOCIAL $211,673; INCRESES UNREALIZED LOSS $1,741,939; SURPLUS $-5,389,706.