​Norms and Requirements to grant
Sponsorships and Donations

Copyright Cooperativa de Ahorro y Credito Rafael Carrion, Jr.. All rights reserved.

Your Best Benefit​

The granting of sponsorships and donations is based on economic support for the member-owners of our Cooperative, whose purpose is to promote community, economic and educational development. For an application to be evaluated and considered by the Cooperativa de Ahorro y Crédito Rafael Carrión Jr., it must meet the following requirements:

• All applications received must originate from members of Cooperativa de Ahorro y Crédito Rafael Carrión Jr.
• Every member must belong to the Cooperative for an uninterrupted period of one year.
  
• Applications will be accepted for individuals and for groups.
  
• It is understood as a group, when two or more people get together and form a league, club, associations, with a common good or interest.
  
• Direct relatives of the member.
  
• Applications will be accepted for direct and indirect (non-blood) relatives in the health category. The request must come through the member.
  
• Fill out the application in all its parts.
  
• Send a quote or invoice for the aid requested.
  
• Make the request at least 30 days in advance, to be evaluated by the Administration of the Cooperative, in accordance with the parameters established below.
  
• One annual approved application, per member or per group, for any of the categories.
  
• Applications from PR Cooperatives, non-members or external clients will not be accepted.
  

 Health Category

Health donation requests are considered high priority. Once approved, the member will be awarded the requested amount, up to a maximum of $500.

• One annual approved application, per member, for the health category.
• The donation will be granted if there is money available in the item destined for the health fund.
  
• Applies to direct and indirect non-blood relatives of the member. The request must come through the member.
  
• Requests for donations whose purpose is to cover deductibles will not be considered.
  

Sports Category

Once approved, the member will be awarded the requested amount, up to a maximum of $200.

• One annual approved application, per member, for the Sports category.
  
• The donation will be granted if there is money available in the item destined for the sports fund.
  

 
Travel category educational affairs

Once approved, the member will be awarded the requested amount, up to a maximum of $200.

• One approved application per year, per member, for the Travel category.
• The donation will be granted if there is money available in the item destined for the Travel Fund.
  

Category of Groups within the Corporation
(Leagues, Clubs, Associations)

Once approved, the group will be awarded the requested amount, up to a maximum of $200.

• An annual approved request, per group, for the category of Groups within the Corporation.
• The donation will be granted if there is money available in the item destined for Groups.
  

Exclusions

The Cooperative will not grant donations for:

1. Current operational expenses of an already established organization.
2. Annual fundraiser, registration fees for associations, galas, or special events.
   
3. Planning, construction, restoration, remodeling, purchase of property or acquisition of land, unless it is an integral part of a project of the Cooperative.
   
4. Purchase or rental of equipment, unless there is evidence that it is of vital importance for health or project, according to the categories described.
   
5. Publications (including books, magazines, newspapers, theses, films, or any other audiovisual material), unless they are an integral part of a Cooperative project.
   
6. Individuals in a personal capacity, no matter how meritorious the case or need may be.
   
7. Substitute medical expenses (deductibles) that are not covered by the individual's medical plan.
   

 Application Approval or Denial

 After carrying out a rigorous evaluation of the Request for Sponsorships and Donations, the Cooperative:

1. It will confirm in writing that it has received your request and will report the result of it, in a period that will not exceed 30 working days.
2. If the request does not meet the criteria, you will be notified of its denial, within a period not to exceed 30 business days.
   

The Board of Directors of the Cooperative reserves the right to grant donations for a specific event, if it understands that it deserves it. Likewise, it reserves the right, under special circumstances and determined at the time, to temporarily suspend the exclusions and eligibility criteria set forth above, to attend priority events for the Cooperative.