As part of its ongoing commitment to give consumers the confidence and tools they need to be fiscally healthy, Citizens Bank announced today that two nonprofit organizations in Vermont will receive $10,000 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 contributions 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 Joe Carelli, president, Citizens Bank, Vermont and New Hampshire. “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.”
“We are grateful to Citizens Bank for investing in financial capability building and helping us to improve stability and a level of financial security for the people we serve,” said Jan Demers, executive director, Champlain Valley Office of Economic Opportunity. “We serve people who struggle to keep expenses below income, have little or no savings, are underbanked and whose credit status prevents access to apartments, transportation and affordable borrowing. The Champlain Valley Office of Economic Opportunity will use these funds to support personal asset building by improving management of spending, credit, savings and use of banking products and services. The blended approach to education, financial coaching, and business counseling — combined with tools and services like credit pulls, matched savings accounts, and access to secured credit cards — provides an entry point and a continued path over time as people meet their financial goals, and set new ones.”
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 a demonstration to incorporate sustainability in their program plans.
The funding recipients in Vermont and how the money will be used:
- Champlain Valley Office of Economic Opportunity Inc. – to support free financial literacy educational classes and financial coaching.
- Champlain Housing Trust, Inc. – to support financial education and one-on-one counseling services that assist people in securing and keeping their housing.
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.