RBS Citizens Financial Group Kicks Off National Financial Literacy Month

RBS Citizens Financial Group, Inc., today marked the beginning of National Financial Literacy Month by announcing $2 million in 2013 grants benefitting nonprofit financial education programs in communities served by Citizens Bank, RBS Citizens and Charter One.

In unveiling its new Citizens Helping Citizens Teach Money Management program, the bank will deliver $1 million in financial support to local nonprofits this month, with the remaining $1 million to follow through the year. Between this financial support and related colleague volunteer efforts, RBSCFG in 2013 will contribute to the financial education of more than 100,000 consumers and small businesses this year. Citizens Helping Citizens Teach Money Management also will include efforts to support the financial education of customers and communities through financial tips and other information shared online, in branches and in social media.

“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 Joe Carelli, president of Citizens Bank and RBS Citizens, New Hampshire & Vermont. “We look forward to partnering with several local organizations to make this happen through Citizens Helping Citizens Teach Money Management this year, and we are proud to see so many of our colleagues volunteering in their local communities as well.”

Through Citizens Helping Citizens Teach Money Management, RBSCFG will work with national and local nonprofit partners to develop opportunities for Citizens Bank and RBS Citizens colleagues to use their financial expertise to teach consumers and small businesses how to make smart financial decisions.

In New Hampshire, Citizens Bank is partnering with the Granite United Way to support its financial stability initiative, which aims to help families gain a deeper understanding of their personal finances, with the long-term goal of helping them become economically self-sufficient and confident in future financial decisions.  The initiative launched in February by offering Volunteer Income Tax Assistance (VITA) sites across the state providing free tax prep and financial counseling services low and moderate income individuals.  Additional financial education programming will continue throughout the year. 

“The work Citizens Bank is doing in our community falls directly in step with United Way’s focus on financial independence as one of its primary impact areas.  We are proud to partner with Citizens Bank to assist struggling families improve their financial outlook.  During this tax season our Volunteer Income Tax Assistance Program has already provided nearly 1,000 free tax returns and well over $2 million in tax refunds,” said Patrick Tufts, President and CEO of Granite United Way.  “Citizens Bank has a long history of supporting United Way and we are confident that with future collaboration we can bring about even more positive change to those in the greatest need.”

Citizens Helping Citizens Teach Money Management gives consumers and small businesses the confidence and tools they need to budget, save, invest and be fiscally healthy. The initiative is part of the bank’s broader Citizens Helping Citizens program addressing five key areas: hunger, housing, economic development, financial education and volunteerism.

More information about RBS Citizens Financial Group’s community initiatives is available online at http://www.citizensbank.com/community/.