Official Website administered by the State Treasurer and Receiver General of Massachusetts
Deborah B. Goldberg
Official Website administered by the State Treasurer and Receiver General of Massachusetts
Deborah B. Goldberg
April 6, 2016
As part of an ongoing commitment to give consumers the confidence and tools they need to be fiscally healthy, Citizens Bank together with Massachusetts Treasurer Deborah B. Goldberg announced today that 17 nonprofit organizations in Massachusetts will receive $512,000 in contributions as part of the Citizens Helping Citizens Manage Money financial literacy initiative.
The need for funding and education in Massachusetts communities is great; only 35.5 percent of households have three months’ worth of expenses saved[1]. Massachusetts is 1 of 12 states that does not require financial education for students[2].
“Massachusetts citizens are walking a financial tightrope and are in need of the basic necessities that can help them become financially successful,” said Jerry Sargent, President, Citizens Bank, Massachusetts. “Through our Citizens Helping Citizens Manage Money program, we are working together with state and nonprofit organizations to empower our fellow citizens with the knowledge and resources they need to budget, save, invest and be fiscally healthy.”
The Women’s Economic Empowerment series - a pilot program through the Economic Empowerment Trust Fund consisting of educational events in Quincy and Newton that focus on wage negotiation, money management, retirement and investment strategies for women of all ages, ethnicities, economic backgrounds and levels of fiscal knowledge - is one of the funding recipients. These free conferences, facilitated by the Massachusetts State Treasurer’s Office, enable the state's female residents to become more informed about how to secure their economic future.
"Our Financial Literacy Task Force found that Massachusetts residents of all ages and backgrounds needed improved access and innovative tools to give them the skills they need to navigate today's financial environment," said Treasurer Deb Goldberg. "I am delighted to partner with Citizens Bank in providing educational programming that empowers women throughout our entire state."
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 $1.3 million in donations to 77 nonprofits and volunteer outreach by more than 400 trained Citizens colleagues throughout the bank’s 11-state footprint.
Nonprofit organizations were chosen in a competitive application process based on their track record of success providing financial education programs, with clear and measurable goals for the program and sustainable program plans. Massachusetts organizations include:
One of Treasurer Goldberg’s first initiatives in her administration was the creation of the Task Force on Financial Literacy, a group of policymakers, educators, bankers and advocates responsible for examining the state of financial education in Massachusetts. The Task Force completed a comprehensive study 
of access to financial education in Massachusetts, and released a detailed set of actionable recommendations to enhance financial literacy throughout the state.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $138.2 billion in assets as of December 31, 2015. 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 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 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.
###
[1] Report on Financial Literacy in Massachusetts: A Roadmap to Economic Empowerment;http://www.mass.gov/treasury/empowerment/finlit/taskforce/
[2] Report on Financial Literacy in Massachusetts: A Roadmap to Economic Empowerment;http://www.mass.gov/treasury/empowerment/finlit/taskforce/
