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Cooperative leader allegedly benefited from repossessed CooPACA properties

The president of the board of directors of the cooperative allegedly omitted to change the ownership of a repossessed property he acquired for himself with the CRIM

September 9, 2024 - 10:08 AM

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CooPACA is one of the largest credit unions in Puerto Rico with approximately $825 million in assets, 14 branches throughout the island and serves more than 119,000 members. (Archivo)

By Efraín Montalbán Ríos

Periodista de Negociosefrain.montalban@gfrmedia.com

For six years, the president of the board of directors of Cooperativa de Ahorro y Crédito de Arecibo, CooPACA, Luis A. Galarza Pérez, has benefited from a tax exemption for a property he acquired for himself, but it appears registered before the Municipal Revenue Collection Center (CRIM) in the name of the financial institution.