Citizens Announces $2.4M in Financial Empowerment Grants to Support 137 Nonprofits
March 27 2024 - 7:30AM
Business Wire
Funding supports growing need for education
and investment as highlighted in new Junior Achievement/Citizens
teen financial health survey
Citizens today announced $2.4 million in financial empowerment
grants to support 137 nonprofit organizations, including $415,000
to Junior Achievement as part of the bank’s Citizens Helping
Citizens Manage Money program. The bank also announced the results
of a teen financial wellness survey, published in partnership with
Junior Achievement, that demonstrates the need for expanded
financial literacy programs.
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Citizens CEO Bruce Van Saun and colleague
volunteers deliver Junior Achievement financial empowerment
programming to students at Segue Institute for Learning in Central
Falls, RI. (Photo: Business Wire)
“Citizens is committed to ensuring that all community members
have the resources and tools needed to make sound financial
decisions,” said Bruce Van Saun, Chairman and CEO Citizens
Financial Group. “We know that having strong financial knowledge is
essential to unlocking opportunity and reducing the wealth gap and
are proud to partner with Junior Achievement and our local
financial literacy partners to provide training to empower our
communities to achieve financial wellness and build brighter
futures.”
According to the survey of 1,000 teens ages 13-18 conducted by
Wakefield Research, money worries weigh heavily on American
adolescents – 78% reporting they are currently stressed out about
money and 74% sharing that their family’s money situation is a
barrier to achieving their future goals. The survey also
demonstrated that there is a gap between services provided and the
interest level of teens to gain control of their finances – 77% of
teens said they would be interested in taking a course to better
understand how to manage money but only 42% said they had received
lessons or courses in school.
“This research shows that many of the concerns adults have about
managing money are being felt by the young people in their homes.
Having a better understanding of how money works is one way to
address the worries today’s young people have about their financial
futures, which is why promoting financial literacy education is so
important,” said Jack E. Kosakowski, President & CEO of Junior
Achievement USA. “We are grateful for Citizens leadership in
helping promote financial empowerment programs to support the
mental and financial health of today’s youth.”
Citizens Helping Citizens Manage Money is the bank’s financial
empowerment program dedicated to providing funding and volunteerism
to support programs that give people the confidence and tools they
need to budget, save, invest, and pursue their goals. Throughout
the year, Citizens colleagues share their time and talents to
deliver financial education training to support grant recipients
programming.
For more information on Citizens’ enterprise-wide Sustainability
and Impact strategy that guides its environment, social and
governance efforts to empower the communities it serves, please
click here.
About Citizens Financial Group,
Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and
largest financial institutions, with $222.0 billion in assets as of
December 31, 2023. 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.
Citizens helps its customers reach their potential by listening to
them and by understanding their needs in order to offer tailored
advice, ideas and solutions. In Consumer Banking, Citizens provides
an integrated experience that includes mobile and online banking, a
full-service customer contact center and the convenience of
approximately 3,300 ATMs and approximately 1,100 branches in 14
states and the District of Columbia. Consumer Banking products and
services include a full range of banking, lending, savings, wealth
management and small business offerings. In Commercial Banking,
Citizens offers a broad complement of financial products and
solutions, including lending and leasing, deposit and treasury
management services, foreign exchange, interest rate and commodity
risk management solutions, as well as loan syndication, corporate
finance, merger and acquisition, and debt and equity capital
markets capabilities. More information is available at
www.citizensbank.com or visit us on Twitter, LinkedIn or
Facebook.
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Katie Hamilton (832) 515-6790
katie.hamilton@citizensbank.com
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