banking

Citizens commits $2M for financial education

BLOOMBERG FILE PHOTO/KELVIN MA
AS PART OF A $2 million national initiative, RBS Citizens Financial Group division Citizens Bank is donating $50,000 to Crossroads Rhode Island to help bring financial education to homeless men and women in the Ocean State.
Posted 4/2/13

PROVIDENCE – RBS Citizens Financial Group Inc., starting with a $50,000 grant to Providence-based Crossroads Rhode Island, is marking National Financial Literacy Month with $2 million worth of grants to financial education programs sponsored by nonprofits in the communities served by Citizens Bank, Charter One and RBS Citizens.

“We know from the community partners with whom we work every day that there is a great need for wider awareness of the financial tools and techniques that individuals, families and small businesses can use to manage their financial future,” said Ellen Alemany, head of RBS Americas and CEO for RBS Citizens. The program falls under the umbrella of Citizens Helping Citizens Teach Money Management, which is awarding the $50,000 to Crossroads for the creation of a financial education program for homeless men and women in the Ocean State.

“RBS Citizens Financial Group has been a valued partner to Crossroads Rhode Island for many years, and this new grant from the Citizens Charitable Foundation will enable us to provide our clients with the critical financial skills they need to establish and maintain stability in their lives,” said Anne Nolan, president of Crossroads Rhode Island.

The local grant is part of $1 million that the bank is committing to grant in April. The second half of the donation to communities across the bank’s footprint will come throughout the rest of the year, with the intention of helping 100,000 consumers and small businesses learn how to better management their finances.

The Citizens Helping Citizens Teach Monday Management program is part of a broader community outreach effort by the division of Royal Bank of Scotland PLC, which has targeted five areas it intends to address: economic development, financial education, hunger, housing and volunteerism.

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