Citigroup and the National Community Reinvestment Coalition -NCRC- Announce Education Initiative to Benefit Thousands of Low-Income and Minority Individuals.Business Editors NEW YORK--(BUSINESS WIRE)--March 6, 2001 Citigroup Foundation Awards NCRC NCRC National Community Reinvestment Coalition NCRC National Cave Rescue Commission NCRC National Capital Revitalization Corporation NCRC Nonwovens Cooperative Research Center NCRC National Campus and Community Radio Conference (Canada) $1 Million Grant to Fund Sponsorships of "Citigroup Financial Education Leadership Initiative" by Local Community Organizations in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Miami, Chicago, Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. and Washington DC Citigroup and the National Community Reinvestment Reinvestment Using dividends, interest and capital gains earned in an investment or mutual fund to purchase additional shares or units, rather than receiving the distributions in cash. 1. In terms of stocks, it is the reinvestment of dividends to purchase additional shares. Coalition (NCRC) today announced that they will partner for a new initiative that will give up to 3,000 low-income, minority and underserved individuals and families greater access to financial products and services through financial education training. "The Citigroup Financial Education Leadership Initiative" will be supported with a $1 million grant, payable over two years, made to NCRC by the Citigroup Foundation. NCRC will use the grant to build upon its existing financial education program by training individuals from 150 community-based organizations to present the program in their local neighborhoods. Fifteen of these organizations will be selected by an advisory board established to oversee this initiative to receive $20,000 to $30,000 to sponsor these financial education programs. The Citigroup Financial Education Leadership Initiative will be rolled out through 2002 in five major metropolitan areas - New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , Miami, Chicago, Los Angeles and Washington, D.C. "Citigroup is committed to making quality products and services available to everyone and to ensuring that individuals have the financial know how they need to make the best choices as they save money for college, plan for retirement, protect their assets or borrow money to buy a home," said Sanford I Weill, Citigroup Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "We are pleased to partner with NCRC and support this financial education initiative that will help more people build better financial futures financial futures Obligations to buy or sell particular positions in financial instruments. The features of financial futures are identical to those of any futures contract except that the asset for delivery is of a financial nature. for themselves and their families." "Now that a process for addressing housing needs in low-income communities has been established, financial education has become a core community development issue," said Gail Burks, Chairman of NCRC. "Our financial education program, which is one of the only ones in the country designed specifically for low-income individuals, provides the type of counseling that helps people avoid predatory lenders, develop good savings habits, and eventually own homes and businesses. We look forward to training our local community groups in financial topics and to ultimately helping thousands of consumers build wealth and assets." "NCRC applauds Citigroup for this important step in promoting economic justice by providing the resources for financial education training," said John Taylor John Taylor, or Johnny Taylor may refer to: Academic figures
"We feel that NCRC has one of the best financial education programs for low-income communities in the country and this is an important reason why we selected them as our partner for this initiative," said Pamela P. Flaherty, Senior Vice President of Citigroup Global Community Relations 1. The relationship between military and civilian communities. 2. Those public affairs programs that address issues of interest to the general public, business, academia, veterans, Service organizations, military-related associations, and other non-news media entities. . "In addition, although Citigroup is a global company, we are very much focused on addressing the needs of local communities. Our partnership with NCRC enables us to accomplish this by providing a broad network of local organizations through which we can deliver financial education and make affordable products and service available to everyone." A portion of Citigroup's grant to NCRC also will be used to establish an advisory board to oversee the initiative. This board will include a representative from a community-based organization that currently provides financial education services, an authority on education, a Citigroup representative, and NCRC's president and its director of financial literacy Financial literacy is the ability of individuals to make appropriate decisions in managing their personal finances. Raising levels of financial literacy is now a focus of government programmes in countries including[1] Australia, Japan, the United States and the UK. . Janet Thompson, Vice President and Director of Community Relations for Citibank in the U.S. also is a member of NCRC's Bankers Business Advisory Board. Individuals who complete one of the Citigroup-sponsored NCRC financial education training programs will be eligible to receive special discounts on financial products and services offered by Citigroup's businesses, which include Citibank, Salmon Smith Barney Smith Barney is a division of Citigroup Global Capital Markets Inc., a global, full-service financial firm, that provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. and Travelers. These special discounted products will include credit cards, mortgages, checking accounts and insurance. Citigroup (NYSE NYSE See: New York Stock Exchange : C), the preeminent global financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company, provides some 130 million consumers, corporations, governments and institutions in more than 100 countries 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 are Citibank, CitiFinancial, Primerica, Salomon Smith Barney, and Travelers. Established in 1999, the Citigroup Foundation brought together the Citicorp Foundation and Travelers Foundation following the merger of the two companies. The Foundation focuses its grants primarily on community development and education, along with arts and culture, health and human services Noun 1. Health and Human Services - the United States federal department that administers all federal programs dealing with health and welfare; created in 1979 Department of Health and Human Services, HHS , and the environment. Additional information may be found at: www.citigroup.com. NCRC is a national trade association of some 800 community organizations whose mission to is promote economic justice and to build wealth and assets for traditionally underserved people. |
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