A Look at Cooperative Month in Puerto Rico

As Inclusiv celebrates International Credit Union Day, we are delighted to share how our members nationwide commemorate this significant occasion. In Puerto Rico, both cooperativas and federal credit unions dedicate the entire month of October to "Mes del Cooperativismo" or Coop Month. This month-long celebration is marked by each cooperative's unique approach to organizing local events and initiatives aimed at promoting cooperative values. Traditionally, the month begins with two official events: the formal proclamation signing by the Governor and the raising of the cooperative flag by the Liga de Cooperativas de Puerto Rico. These events mark the beginning of an intense month during which all cooperatives showcase the essence of the cooperative philosophy and the distinctive qualities of credit unions.

This year, Coop Month commenced with the official proclamation signed by the Governor, Hon. Pedro Pierluisi, formally declaring October as Coop Month. This annual event is organized by the Commission of Cooperative Development, the primary government entity responsible for promoting, developing, and incorporating cooperatives. The proclamation ceremony took place at La Fortaleza, the Governor's Mansion, and saw the participation of central cooperative entities in Puerto Rico, including the Public Corporation for the Supervision and Insurance of Cooperatives (COSSEC), the League of Cooperatives, the Association of Cooperative Executives of Puerto Rico (ASEC), Cooperative Bank (BANCOOP), Cooperativa de Seguros Multiples, Puerto Rico Life Insurance Cooperative of Puerto Rico (COSVI), Cooperativism Institute of the University of Puerto Rico and the Cooperative Investment and Cooperative Fund (FIDECOOP.

Following the proclamation event, there was the formal raising of the cooperative flag, a significant ceremony held at the headquarters of the Liga de Cooperativas de Puerto Rico. This occasion held special significance as it commemorated the anniversaries of four of the most important cooperative entities in Puerto Rico: The League of Cooperatives (1948), the Association of Cooperative Executives (1973), Cooperativism Institute of the University of Puerto Rico (1953), and Cooperativa de Seguros Multiples (1963). Each cooperative also hosts its own flag-raising ceremony, inviting members to join in celebrating the cooperative way of life.

Inclusiv has a substantial on-the-ground presence in Puerto Rico, with 99% of state-chartered and federal credit unions on the island being Inclusiv members. Cooperativas account for 20% of our national membership and actively participate in Inclusiv affairs, with equal representation on our Board of Directors. We consider it a privilege to be invited to and actively participate in the island's cooperative events and take immense pride in celebrating Coop Month alongside the Puerto Rico cooperative movement. For more information about Inclusiv's initiatives in Puerto Rico, please refer to our report.