BANCO COOPERATIVO DE PUERTO RICO (BANCOOP)

Banco Cooperativo de Puerto Rico was founded in 1974 and is headquartered in the San Juan metropolitan area; it is the central financial institution serving Puerto Rico's savings and credit cooperatives and the wider cooperative movement. With cooperatives as its principal clients, it provides wholesale financial services such as funds management, card processing, electronic transfers and cheque clearing, efficiently allocating resources across the cooperative system to support local socioeconomic development. The bank is regulated by the Office of the Commissioner of Financial Institutions of Puerto Rico and plays a central-bank-like support role within the island's cooperative finance system; it is a member organisation of ICA Americas.