EXHIBIT 32

                                  CERTIFICATION
                       PURSUANT TO 18 U.S.C. SECTION 1350
                    AS ADOPTED PURSUANT TO SECTION 906 OF THE
                           SARBANES-OXLEY ACT OF 2002

         In connection with the Annual Report of R&G Financial Corporation (the
"Company") on Form 10-K for the period ended December 31, 2003, as filed with
the Securities and Exchange Commission on the date hereof (the "Report"), the
undersigned hereby certify, pursuant to 18 U.S.C. section 1350, as adopted
pursuant to section 906 of the Sarbanes-Oxley Act of 2002, that to the
undersigned's best knowledge and belief:

         (a) the Report fully complies with the requirements of section 13(a) or
15(d) of the Securities Exchange Act of 1934, as amended; and

         (b) the information contained in the Report fairly presents, in all
material respects, the financial condition and results of operations of the
Company.

Dated this 15th day of March, 2004.

                                                  R&G Financial Corporation
                                                  ------------------------------
                                                  ("Company")

                                                  /s/ Victor J. Galan
                                                  ------------------------------
                                                  Victor J. Galan
                                                  Chief Executive Officer

                                                  /s/ Joseph R. Sandoval
                                                  ------------------------------
                                                  Joseph R. Sandoval
                                                  Chief Financial Officer

A SIGNED ORIGINAL OF THIS WRITTEN STATEMENT REQUIRED BY SECTION 906 HAS BEEN
PROVIDED TO THE COMPANY AND WILL BE RETAINED BY THE COMPANY AND FURNISHED TO THE
SECURITIES AND EXCHANGE COMMISSION OR ITS STAFF UPON REQUEST.