FOR IMMEDIATE RELEASE
Citigroup Inc. (NYSE: C)
May 17, 2006
U.S.: Citigroup Announces Neighborhood Revitalization & Preservation Financial Ed Program
Chicago – The Citigroup Foundation and the National Training and Information Center (NTIC) today announced “Neighborhood Revitalization and Preservation through Financial Education,“ a project designed to build wealth and promote stable home ownership in communities across the country. To support the effort, the Citigroup Foundation today presented a grant check in the amount of $250,000 to NTIC.
Mary Louise Preis, Community Relations Director, CitiFinancial; Joseph W. Mariano, Executive Director, NTIC; Inez Killingsworth, NTIC Board Member; joined with Theresa Welch, Organizer with the South Austin Coalition Community Council and community leaders at the South Austin Coalition Senior Satellite Center in Chicago to announce the launch.
“At Citigroup, we believe that strong financial education programs raise the quality of life for individuals, families and institutions and strengthen communities around the world,” said Mary Louise Preis. “Together with NTIC and its community-based organizations, CitiFinancial and the Citigroup Foundation will continue to work to improve financial education in Chicago and other communities we both serve. We believe that Financial Literacy is the key to home ownership and community stability.”
“Working with CitiFinancial, NTIC and affiliate organizations across the country are working to help families realize the American dream of homeownership and protect their investment by preventing home foreclosures and predatory lending," said Joseph W. Mariano, Executive Director of NTIC.
Together, CitiFinancial and NTIC will impact thousands of households in Illinois, Ohio, Iowa, New York, and Indiana through this project. The project will focus on using financial education and awareness to equip families and individuals with the tools and information they need to build wealth, secure assets and protect their investments.
NTIC’s mission is to build strong grass roots community organizations through their work on neighborhood improvement issues. The “Neighborhood Revitalization and Preservation through Financial Education“ project works within established community organizations and employs the most appropriate models for these communities based on local needs.
With support from the Citigroup Foundation, the NTIC national office will support each of the seven affiliates with technical assistance, relationship building that builds capacity, implementation monitoring, results tracking and analysis and development and sharing of best practices.
“NTIC commends the Citigroup Foundation for their commitment to improving neighborhoods and strengthening families through financial education. Citigroup's support will impact thousands of families in Illinois, Ohio, Iowa, New York, and Indiana.” Said Joseph W. Mariano, Executive Director of NTIC.
To date, Citigroup and the Citigroup Foundation have invested $53 million of its 10-year $200 million commitment to Financial Education programs in 68 countries.
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Citigroup Financial Education
The Citigroup Financial Education Program is a global, company-wide effort to identify, support and implement initiatives that help give individuals, families and communities the tools needed to make sound financial decisions. In 2004, Citigroup and the Citigroup Foundation announced a 10-year, $200 million global financial education commitment, the formation of a new Office of Financial Education and a global initiative designed to encourage its 300,000 employees around the world to devote time to support financial education and other charitable causes. Under this initiative, employees may take a day off from work to volunteer for non-profit organizations in their communities. To learn more, visit http://financialeducation.citigroup.com.
Citigroup
Citigroup, the pre-eminent global financial services company has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex. Additional information may be found at www.citigroup.com.