We understand the importance of planning your children's education and we are here to help you in the process.

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You can claim a $500 annual deduction for each beneficiary on your income tax return1


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You can claim for the contribution in addition to other IRA1 accounts


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Compound interest credited quarterly


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Quarterly account statements


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Annual Summary


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Maximum Contribution of $500 per beneficiary per year

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Maturity terms of 1 and 3 years



Ready to apply?

Make sure you have the following documents readily available before applying.


In addition to your Social Security card, you will also need one valid ID with photo issued by the Government of Puerto Rico, such as:


  • Driver's license

  • Passport

  • Military ID

  • Government ID

With these documents in hand, apply here.


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Enjoy a Visa Infinite debit card with the Preferente account.

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Cuenta UNO has no minimum balance.

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Secure your holiday expenses with the Christmas Club account.



Yes, the First Educational IRA helps you plan your children's education while deducting contributions from your income tax returns.


An IRA account and a CD, both allow you to save money for your future.  The IRA gives you a tax benefit.  The CD is a deposit account with a defined term.



An IRA account allows you to save money for retirement, thus complementing your Social Security income.  In addition, it gives you a tax benefit.

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Financial Education

Learn to manage your products with FirstBank electronic services

Get to know the tools and services that Digital Banking offer has for you.

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Financial Education

What to do if I have an unexpected expense and I don't have money? Know your options

We tell you about some options in the case of having an unexpected expense. Consider them and choose the best for you.

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Are banking applications (apps) safe? All you need to know

Keep your information safe from security threats on banking apps.

Member FDIC. Only for residents of Puerto Rico. FirstBank offers you several IRAs and investment alternatives. You have the right to obtain detailed information to determine which is the most convenient. 1 Subject to the dispositions established by the Puerto Rico Internal Revenue Code. Consult your tax or financial advisor. Opening minimum deposit: $500. Annual Percentage Yield (APY) is subject to the amount deposited being maintained in the account until maturity. Withdrawals made before the account matures incur penalties. Penalties for early withdrawal: 1 year term: 3 months of interest; 3-year term, 6 months of accrued interest or the total of accrued and/or paid interest, whichever is less on the principal of the interest rate that the IRA has been at since its opening or last renewal, whichever occurred last. Transfer fee to another institution: $50. Fees may reduce earnings on the account. Opening deposit, APY, and penalties may vary depending on the term of the IRA. Refer to the product disclosures provided at account opening. OCIF Lic. # 31.

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