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Social Responsibility
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As a commercial bank, we recognize the unique challenges small businesses face and we strive to help them succeed and promote financial inclusion. This is why we have provided more than $300 million in loans to small businesses.
Communities
As a commercial bank, we recognize the unique challenges small businesses face and we strive to help them succeed and promote financial inclusion. This is why in 2021, we provided more than $350 million in loans to small businesses.
In support of small business owners, in 2022 we originated over 5,300 loans amounting to over $ 386 million across our three operating regions.
Providing access to affordable housing is critical to the stability of families and individuals. That's why we are committed to always striving to finance reasonable housing units to the extent possible. In 2022, we originated more than 950 loans totaling $140 million in federal mortgage guarantee programs.
For more than ten years, we have supported Habitat for Humanity Puerto Rico, a non-profit organization dedicated to creating housing opportunities for low-income individuals and families. We focus our support on housing construction and rehabilitation projects, such as the "Un Toque de Cariño" program, and on providing construction job training to women through the "Women Who Build" program.
$213 million in loans
As of December 31, 2022, we had 33 community development loans in circulation, for a total of $213 million in all regions where we operate. As of the same date, total qualified investments under the Community Reinvestment Act (CRA) Program were approximately $ 187.6 million.
$1.7 million in donations
Including approximately $1,200,000 in donations under the CRA, to over 130 non-profit organizations.
As of December 31, 2021, we’ve originated over 14,000 loans amounting to over $746 million, providing much-needed support to small business owners across our three operating regions.
Providing access to affordable housing is critical to the stability of families and individuals. That's why we are committed to always striving to finance affordable housing units to the extent possible. In 2021, we originated more than 1,200 loans totaling $187 million in federal mortgage guarantee programs.
For more than ten years, we have supported Habitat for Humanity Puerto Rico, a non-profit organization dedicated to creating housing opportunities for low-income individuals and families. We focus our support on housing construction and rehabilitation projects, such as the "Un Toque de Cariño" program, and on providing construction job training to women through the "Women Who Build" program.
$199.3 million in loans
As of December 31, 2021, we had 54 community development loans in circulation, for a total of $199.3 million in all regions where we operate. As of the same date, total qualified investments under the Community Reinvestment Act (CRA) Program were approximately $192 million.
$1 million in donations
Including approximately $673,000 in donations under the CRA, to over 130 non-profit organizations.
Entrepreneurship
INprende
FirstBank and INprende have impacted over 330 entrepreneurs through our virtual program. The virtual program topics included: business leadership in times of pandemic, successful business operation, marketing in times of pandemic, protection of finances, and ensuring continuous success in your company.
GFR Media and SOMOS Puerto Rico
In 2022, we furthered the partnership with one of Puerto Rico's leading media conglomerates and its SOMOS initiative, a community outreach program to promote economic and social development by offering seminars to small and medium-sized businesses throughout the Island's municipalities.
Grupo Guayacán and EnterPRize
We support Grupo Guayacan, Inc., a private sector-driven non-profit organization whose mission is to foster, promote, and develop private equity in Puerto Rico. Through their EnterPRize business-building competition, they provide startups with access to workshops, mentoring, and equity-free seed capital. In 2022, FirstBank continued to support this initiative by providing grants to competing participants.
One With the Environment
Our Corporate Social Responsibility Program, “One with the Environment,” promotes ecological conservation and protection of natural resources.
Our efforts are focused on three main categories: reforestation, recycling, and energy management.
One With the Environment
Our Corporate Social Responsibility Program, “One with the Environment,” promotes ecological conservation and protection of natural resources.
Our efforts are focused on three main categories: reforestation, recycling, and energy management.
We take action by:
Granting $5,000 to Friends of El Yunque Foundation, an organization that focuses on the preservation of the only tropical rainforest managed by the U.S. Forest Service.
Developing an alliance with Agrochic, a blog and podcast in Puerto Rico that supports environmental well-being and promotes educational content through our social media channels.
Supporting our main reforestation initiative, “Crece Verde,” established in 2010, which has distributed approximately 33,400 trees impacting approximately 136 communities across various municipalities in Puerto Rico.
In 2021, we made a five-year commitment to donate $5,000 every year until 2026, for a total of $25,000, to San Patricio Urban Forest in Puerto Rico for its conservation and rehabilitation.
In 2022, we recycled and shredded 1,739,429 pounds of paper, which translates into the following benefits.
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4,099 metric tons of CO2 emissions avoided
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20,886 trees preserved
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2,575,955 kilowatts of electricity saved
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6,259,081 liters of water saved
Future generations deserve to enjoy the environment that we get to enjoy today. Together we can make it happen..
Future generations deserve to enjoy the environment that we get to enjoy today. Together we can make it happen.
We have also contributed with:
Pounds of paper recycled and shredded
2 Millions pounds
Recycled electronic and mobile equipment through Dona tu Celu program
19,000 units
Our People
We strive to be recognized as a leading diversified financial institution that offers a superior customer and employee experience. We believe that the key to our success is to take care of our employees as much as we take care of our customers. Our goal is to be an employer of choice within our operating regions, which we believe is achieved and maintained by adding value to our employees' lives and providing a rewarding and evolving work experience. The heart of our employer value proposition, "The Experience of Being 1," encompasses our commitment to the well-being, success, professional development and work environment of our employees.
Our People
We strive to be recognized as a leading and diversified financial institution offering a superior experience to our clients and employees. We believe that the key to our success is caring about our employees as much as we care about our customers.
Our goal is to be an employer of choice within our operating regions, which we believe is achieved and sustained by adding value to our employees’ lives and providing a rewarding and evolving work experience. The heart of our employer value proposition, “The Experience of Being 1”, encompasses our commitment to our employees’ well-being, success, professional development, and work environment.
Our People
We strive to be recognized as a leading diversified financial institution that offers a superior customer and employee experience. We believe that the key to our success is to take care of our employees as much as we take care of our customers. Our goal is to be an employer of choice within our operating regions, which we believe is achieved and maintained by adding value to our employees' lives and providing a rewarding and evolving work experience. The heart of our employer value proposition, "The Experience of Being 1," encompasses our commitment to the well-being, success, professional development and work environment of our employees.
41% of our employees
Nearly half of our employees have worked with the Corporation for more than 10 years. We value our employees’ engagement as evidenced by the long tenure of our workforce.
+670 employees
During 2022, we supported more than 420 employees, over 13% of our workforce, including their dependents, through our EAP, which is available to all employees 24 hours a day, seven days a week.
Diversity of Our Workforce as of December 31, 2021
67%
Are women
57%
Are women in management positions
33%
Are women in the executive leadership team
Community
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Engagement
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Investment & Development Fund
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Reinvestment Program
Engagement
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Through the Corporation's employee program, known as SOY FirstBank, we aim to support and reinforce our commitment to our communities. In 2022, 486 employees donated 1,988 volunteer hours impacting 36 nonprofits across the regions where we operate.
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During 2022, our employees provided 305 workshops, amounting to over 900 hours, assisting more than 5,293 individuals of all ages with enhancing their financial literacy skills.
Community Investment and Development Fund
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As part of our commitment, we have developed the Community Investment and Development Fund (CIDF). The CIDF focuses on two areas of investment: the Community Reinvestment Program and the Corporate Social Responsibility Program.
Community Reinvestment Program
The Community Reinvestment Program focuses exclusively on initiatives that meet the requirements of the Community Reinvestment Act (CRA). The Program aims to serve low or moderate-income individuals, families, and communities in our areas of operation. Our priority under this program is to contribute to projects and initiatives that are developed and managed by non-profit organizations, or through partnerships between the public and private sectors, and non-profit organizations.
Under the program, the areas of interest are:
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Financial education and knowledge
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Housing and economic development
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Social and community development
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Revitalization of the environment and the community
How to Apply
We will accept CDIF financing applications based on program criteria. Click here to complete the Donation Application and send it to:
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Community Reinvestment Program