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Puerto Rico hearing backs raising youth committee age from 29 to 35 for credit unions
Summary
A House of Representatives commission heard broad support March 12 for House Bill 220, which would raise the maximum age for members of cooperative credit unions' youth committees from 29 to 35; regulators and cooperative leaders also urged removing a mandatory minimum-member rule and strengthening the bill's justification with demographic data.
San Juan — The House of RepresentativesCommission on Cooperativism held a public hearing Wednesday, March 12, 2025, at the Capitol in San Juan on House Bill 220, a proposal to amend Article 5.19 of Law 255 of 2002 to raise the maximum age for members of youth committees in savings and credit cooperatives from 29 to 35.
Supporters told the commission that demographic shifts and recruitment challenges have made the current age cap and rigid membership rules difficult to meet. "The League of Cooperatives concurs with the proposal to expand the age limit," said Heriberto Martnez Otero, executive director of the League of Cooperatives of Puerto Rico. Regulatory and sector groups including the Corporacin para la Supervisin y Seguro de Cooperativas (COSEC) and the Asociacin de Ejecutivos de Cooperativas (ASEC) expressed general support for the bill while urging additional changes.
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