04/05/2017

Citizens Bank Announces $140,000 in Contributions to Organizations in Rhode Island through the Citizens Helping Citizens Manage Money Initiative

PROVIDENCE -- As part of its ongoing commitment to give consumers the confidence and tools they need to be fiscally healthy, Citizens Bank announced today that nine nonprofit organizations in Rhode Island will receive $140,000 in contributions as part of the Citizens Helping Citizens Manage Money financial literacy initiative.

 

Leveraging the financial expertise of its bankers and its partnerships with local nonprofits focused on financial education, the Citizens Helping Citizens Manage Money program this year provides $1.4 million in donations to 80 nonprofits and volunteer outreach by more than 400 trained Citizens colleagues to teach financial literacy in communities throughout the bank’s footprint.

 

Throughout the year, Citizens Helping Citizens Manage Money is expected to improve the financial acumen of more than 260,000 Americans seeking a better understanding of financial topics ranging from the basics of checking accounts to the intricacies of household budgeting and long-term financial planning.

 

Citizens has launched a new Financial Fundamentals hub on its website (www.content.citizensbank.com/financialfundamentals) to provide consumers with information on budgeting and saving, home ownership, protecting identity, and more. The bank is also inviting those interested in learning more about money management to join a “Make It Count” challenge on its Facebook page throughout the month of April to learn and share tips about topics such as goal-setting, saving, and managing credit.

 

“We are helping our customers bank better by improving their financial literacy. Learning how to manage money is the first step individuals can take in achieving their financial goals,” said Barbara Cottam, Rhode Island Market Executive, Citizens Bank. “With Citizens Helping Citizens Manage Money, we are providing resources to give our fellow citizens the confidence and tools they need to budget, save, invest and be fiscally healthy.”

 

Nonprofit organizations from across the bank’s 11-state footprint were chosen in a competitive application process based on their track record of success providing financial education programs, clear and measurable goals for the program, and the ability to incorporate sustainability in their program plans.

 

The funding recipients in Rhode Island:

  • United Way of Rhode Island - to support free tax preparation and financial counseling for low-income families. 
  • Crossroads Rhode Island – to support financial fairs and workshops that inform clients about banking, credit and establishing or repairing credit histories.
  • Preservation of Affordable Housing – to support the Family Self-Sufficiency program, which provides financial coaching and asset-building strategies.
  • Foster Forward – to support a financial literacy program for youth in foster care ages 16 -21 who are newly employed.
  • NeighborWorks Blackstone River Valley – to support a program that will assist low- and moderate-income individuals in building assets and gaining financial stability.
  • Connecting for Children and Families, Inc. – to support financial literacy classes and one-on-one financial coaching through the Journey to Financial Stability program.
  • Genesis Center – to support the Bridge to Career Opportunities program, a financial literacy program designed to improve outcomes for low-literacy, low-income, unemployed adults.
  • Junior Achievement of Rhode Island – to support financial literacy programs for students.
  • Institute of Labor Studies and Research – to support a financial literacy program for immigrant Low English Proficiency (LEP) populations.

In recognition of National Financial Literacy Month, Citizens Bank recently teamed up with Reach Out and Read RI to provide all 3-, 4- and 5-year-old children at 19 community health centers across the state with a copy of “Curious George Saves his Pennies” at well visits during the month of April. The purpose of this project is to promote the development of lifelong, healthy financial habits beginning at an early age while continuing to engage children and families around the importance of reading aloud to support early brain development and strengthen the social-emotional bond between parent and child. 

“We are grateful to Citizens Bank for recognizing the value of the Reach Out and Read program to improve educational outcomes for children beginning at six months of age, with the pediatrician serving as the trusted messenger,” said RORRI executive director Susanna Beckwith. “For Financial Literacy Month, we are working with Citizens to place close to 400 books in exam rooms with a targeted message: it is important for young children to learn how to save, spend and share money. Even preschool-aged children are capable of learning simple spending plans.”

Reach Out and Read (ROR) is an evidence-based nonprofit organization that promotes early literacy and school readiness in pediatric exam rooms nationwide by giving new books to children and advice to parents about the importance of reading aloud. In Rhode Island, there are 70 health care sites handing out more than 66,000 books to over 35,000 children between the ages of 6 months and 5 years. To learn more, visit www.rorri.org.

Citizens Helping Citizens Manage Money is part of the bank’s broader Citizens Helping Citizens program, which addresses four key areas: hunger, economic development, financial education and volunteerism.

 

For additional information on Citizens Helping Citizens Manage Money, visit Citizens’ website. 

About Citizens Financial Group, Inc.

Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $149.5 billion in assets as of December 31, 2016. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. In Consumer Banking, Citizens helps its retail customers “bank better” with mobile and online banking, a 24/7 customer contact center and the convenience of approximately 3,200 ATMs and approximately 1,200 Citizens Bank branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Citizens also provides wealth management, mortgage lending, auto lending, student lending and commercial banking services in select markets nationwide. In Commercial Banking, Citizens offers corporate, institutional and not-for-profit clients a full range of wholesale banking products and services including lending and deposits, capital markets, treasury services, foreign exchange and interest hedging, leasing and asset finance, specialty finance and trade finance. 

Citizens operates through its subsidiaries Citizens Bank, N.A., and Citizens Bank of Pennsylvania as Citizens Bank, Citizens Commercial Banking and Citizens One. Additional information about Citizens and its full line of products and services can be found at www.citizensbank.com.