Citizens Bank Gives $110,000 to Groups in Greater Cleveland, Other Northern Ohio Cities to Help Build Financial Literacy

As part of its ongoing commitment to give consumers the confidence and tools they need to be fiscally healthy, Citizens Bank announced today that 10 nonprofit organizations in Cleveland and Northern Ohio will receive $110,000 in contributions as part of the Citizens Helping Citizens Manage Money financial literacy initiative.

“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 Karen Minghine, Citizens Bank’s Retail Banking Director for Ohio and Michigan. “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.”

April is National Financial Literacy Month. Funding recipients in the Cleveland and Northern Ohio region - which includes Cleveland, Akron, Youngstown, Canton and Toledo - are:

• Growth Opportunity Partners, Inc., $35,000. The funds will support financial education for Northeast Ohio’s most promising job-creating small businesses, operating in primarily low- and moderate-income, under-resourced communities.
• Economic and Community Development Institute Inc., $20,000. The funds will support financial literacy workshops for entrepreneurs and small business owners in Cleveland, Akron and Toledo.
• University Circle Inc., $15,000. The funds will support the Financial Essentials for Small Business Owners program.
• Community Building Partnership of Stark County, $10,000. The funds will support workshops for Stark County residents as they travel the path of not only purchasing their own home but learning how to become fiscally responsible.
• Enterprise Community Partners, $10,000. The money will be used for the Cuyahoga Earned Income Tax Credit Coalition, which provides free tax preparation and access to one-on-one financial counseling for low-income families.
• Empowering and Strengthening Ohio’s People, $5,000. The money will go to the Senior Financial Empowerment Initiative, financial capabilities programs for low-to-moderate income seniors in Northeast Ohio through offices in Cleveland and Warren.
• Home Repair Resource Center, $5,000. The money will be used for a comprehensive financial literacy and education program for prospective homebuyers.
• Junior Achievement of North Central Ohio, $5,000. Funds will go to an elementary school program in the Akron Public School District.
• Junior Achievement of Northwestern Ohio, $3,000. Funds will go to a program for seventh-graders in Toledo schools.
• Junior Achievement of Mahoning Valley, $2,000. Funds will go to a program for eighth-graders in Ashtabula, Columbiana, Mahoning and Trumbull counties.

Michael Jeans, president and CEO of Growth Opportunity Partners, said the Citizens grant will help his organization offer financial education and support to both business owners and residents in the economically disadvantaged areas they serve in and around Cleveland. “Our organization provides education and capital to small businesses,’’ he explained, “but we also make financial education available to the people who live in the communities where those businesses are located.’’

Jeans said the organization focuses on business projects that offer employees “meaningful wage jobs. Our priority is not to fund a project that creates 30 minimum wage jobs. The market has a sufficient supply of those jobs. At Growth Opps, we focus on the quality of the job, which begins with access to a better wage, with an opportunity to participate in other company benefits as well.’’

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.

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 individuals 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.

For additional information on Citizens Helping Citizens Manage Money, visit Citizens’ website.