DETROIT – As part of an ongoing commitment to give consumers the confidence and tools they need to be fiscally healthy, Citizens Bank announced today that five nonprofit organizations in Southeastern Michigan will receive $100,000 in contributions as part of the Citizens Helping Citizens Manage Money financial literacy initiative.
“These donations from Citizens Bank are excellent investments in the future of Southeastern Michigan,” said Rick Hampson, president of Citizens Bank, Michigan. “Helping people learn how to better manage their money results in more productive lives. The five organizations in Greater Detroit that Citizens Bank is giving donations to all work toward helping people become more knowledgeable about their finances.”
The Great Lakes Women’s Business Council, which economically empowers women and minorities, will receive $30,000 from Citizens Bank. Michelle Richards, executive director of the organization, said the donation will be used to help finance a loan program for Detroit-based small businesses.
“Small business financial education is a critical component of our loan program that the Citizens donation will help to finance,” Richards said. “We are pleased that Citizens Bank has the foresight to realize how important financial literacy is for women and minorities.”
April is National Financial Literacy Month. The other Southeastern Michigan nonprofits receiving donations from Citizens Bank include:
Detroit Land Bank Community Development Corp., $25,000. The Land Bank, which strives to stabilize Detroit’s housing market, will use these funds for a homebuyer counseling program.
Junior Achievement of Southeastern Michigan, $20,000. This donation from Citizens Bank will be used to help students learn how to proactively manage their finances.
Southwest Economic Solutions, $20,000. This organization will use the Citizens donation to provide neighborhood entrepreneurs with support for improving personal and business financial skills.
Wayne Metro Community Action Agency, $5,000. This donation will be used for a program that includes providing a financial savings coach to low-income people.
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 includes $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.
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.
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.