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Financial Education
Knowledge is your greatest asset. SM
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Highlights
Citigroup Financial Education Program
 
Highlights for May 2005
 
UNITED STATES
 
Smith Barney’s National Stock Portfolio Contest
  • May 12th in New York, Smith Barney announced the winner of its 2005 National Stock Portfolio Contest: Ms. Nancy Guy Kelly's 5th grade class at W.T. Jackson Elementary School in Atlanta, Georgia. Within the three-month timeframe of the contest, the team's portfolio increased .85 percent, while the S&P 500 Index closed down 1.62 percent. They also surpassed the performance of 100 classes from schools in 18 states that participated in this year's program. Each student on the winning team will receive one share of Citigroup stock.
  • The contest marks the conclusion of the Smith Barney’s Take Your Parents to School Day® Program, which includes a three-day financial education curriculum held in participating middle schools in February. On the third day of the program, each participating class formed teams to create a hypothetical portfolio consisting of five shares of stock selected from a list provided by the firm. The portfolio was then entered in Smith Barney's National Stock Portfolio Contest.
  • Smith Barney's Young Investors initiative focuses on educating middle school students on the basic fundamentals of investing and how these skills will enable them to become financially responsible adults.
Operation Hope’s Banking On Our Future Program
  • May 16th in Harlem, Denise Durham-Williams, Citibank’s National Community Relations Director, Daria Sheehan, Vice President of the Citigroup Foundation, and John Bryant, Founder, Chairman and CEO of Operation HOPE, hosted an event to celebrate the launch of the ‘Banking on Our Future’ Program at the Roberto Clemente Middle School. At the event, Denise Durham-Williams and Daria Sheehan presented a $500,000 grant check from the Citigroup Foundation to support the expansion of the program to seven cities.
  • At the school, Citigroup employees, who are members of Citigroup’s African Heritage Network, have teamed up with Operation HOPE for a four-week training program. As part of the Network’s Adopt-a- School initiative, they are volunteering as HOPE Corps banker-teachers to educate more than 250 students in 9 different classes about the basics of earning income, budgeting, saving and investing.
  • In April 2004, with the support of a $250,000 grant from the Citigroup Foundation, Citigroup and Operation HOPE announced a national partnership to support “Banking on Our Future,” in three cities. Last year, the Network reached more than 3,300 students in 140 classrooms in Washington, DC, Oakland, CA, and Harlem.
Junior Achievement In A Day
  • May 12th in Irving, Texas, 74 CitiFinancial employees taught Junior Achievement lessons to more than 540 students in over 29 classes from Kindergarten through 5th Grade at the Johnston Elementary School.
The Fed Challenge
  • May 17th in New York, Citibank announced the winners of $165,000 in scholarships, awards and grants for the high school teams competing in the final rounds of The Fed Challenge, a national high school economics competition, sponsored by participating Reserve Banks and the Board of Governors of the Federal Reserve System, in which teams of high school students from around the country prepare and present analyses of the economy and recommendations for monetary policy in a series of local, regional and national competitions.
  • Judges for the final round of competition were Donald L. Kohn, Board of Governors; Laurence H. Meyer, Former Member, Board of Governors; and Barbara Perelmuter, Federal Reserve Bank of New York. Federal Reserve Chairman Alan Greenspan contributed a videotaped question for all teams in the Q & A portion of the final round of competition.
  • As the winner, the Pittsford Mendon High School in Rochester, NY, representing the Federal Reserve Bank of New York, received a $10,000 Citibank grant to establish an in-school economics laboratory. The five students on the team each received a $7,000 Citibank scholarship and their faculty advisor received a $5,000 Citibank grant. Citibank awarded $25,000 to each of national finalist teams and $10,000 to each of the national semi-finalist teams in the competition.
  • This year marked the tenth anniversary of The Fed Challenge and the eighth year that Citibank has provided scholarships, awards, and grants for participating teams through its subsidiary, The Student Loan Corporation.
Neighborworks® America
  • May 20th in Long Island City, Maura Markus, President of the Citibank Retail Distribution Group, presented a $750,000 grant from the Citigroup Foundation to Ken Wade, CEO of NeighborWorks® America (NWA), to support its NeighborWorks® Center for Homeownership Education and Counseling (NCHEC) program, created to help address the growing demand for training, standards, and certifications within the homebuyer education and counseling industry. The presentation was made at an event honoring 30 representatives from New York City non-profit organizations, who just completed the intensive week-long training.
  • Over the next three-years, the Citigroup Foundation grant will help train approximately 570 counselors who will counsel an estimated 102,600 potential homebuyers annually, of which one in seven, according to NeighborWorks® America's statistics, or 14,650, will become homeowners. In addition, the Citigroup Foundation will sponsor 50 scholarships for staff members of nonprofit organizations so they can attend one of the five Neighborworks® Training Institutes (NTIs) offered each year.
  • Since 2003, Citibank, with support from the Citigroup Foundation, which has made grants totaling close to $1.2 million to NWA and its chartered members, has been the only financial institution to make this training available in local markets to NWA affiliates, such as Neighborhood Housing Services of New York City, and other nonprofit organizations.
"From Purses To Portfolio" Seminars
  • In April, Citibank Delaware continued their support of and participation in the “From Purses to Portfolios” Program by leading several financial education seminars throughout the month. “From Purses to Portfolios,” is a program established to give women the information and motivation they need to put them on the road to financial security. The program is sponsored by Citibank Delaware, the Citigroup Foundation, Treasurer Jack Markell and the Delaware Money School, the signature program of the Delaware Financial Literacy Institute.
  • April 23rd in Delaware, Alisha Adams of Primerica and Terri Hasson of Citicorp Trust Bank taught a seminar called “Kiss Debt Goodbye” to more than 75 women. Participating vendors included Consumer Credit Counseling, Delaware Community Reinvestment Action Program, Del Teach Community College and YWCA Economic Options for Women.
  • April 26th, Pam Connelly of Citibank Delaware Training and Leann Brock of Citibank Delaware, joined more than 80 employees to participate in National Teach Children to Save Day. Citigroup employees visited 85 classrooms in 17 schools and used the Citigroup Financial Education Curriculum to teach “Where Does My Money Come From” and “What Matters Most” lessons.
  • April 27th in Delaware, Citigroup employees taught a “Kids and Cash” seminar to more than 30 children and adults to help parents work with their children to develop money management skills.
FINANCIAL EDUCATION TRAINING
 
To date, more than 1,700 US employees and non-profit partner staff have undergone training to teach financial education using the Citigroup Financial Education curriculum.
 
765 people have participated in the online training since the April launch of the site.
 
ASIA PACIFIC
 
MALAYSIA
 
“Agent Penny” Launches In Malaysia
  • May 18th in Kuala Lumpur, Piyush Gupta, Citigroup Country Officer and Chief Executive Officer of Citibank Berhad, and Tan Sri Dr. Augustine Ong, President of the Malaysian Invention & Design Society (MINDS), launched the “The Adventures of Agent Penny,” the first-ever comic book designed to instill good money management values among primary school students in Malaysia. "The Adventures of Agent Penny" is being coordinated by Citibank and MINDS, and is funded by a grant from the Citigroup Foundation. 10,000 copies of the comic book, available in both English and Bahasa Malaysia, will be distributed to primary students over the year.
  • To reinforce the key lessons of the comic book, Citibank commissioned a local professional theater group, Stars by Write, to produce a short play that illustrates the importance of saving and budgeting. Citibank has also developed a resource kit with a range of games and exercises so that teachers and volunteers can further instill financial know-how among the students as part of their extra-curricular enrichment activities.
  • In June, Citibank is planning to launch a website called the "Kids' Wealth Foundation," where students will be able to enjoy an Agent Penny school calendar, wallpaper and interactive learning games. The site will also provide parents and teachers with more background about the project, a resource section with ideas for other learning activities, and opportunities for feedback on the program.
AUSTRALIA
 
YWCA NSW Australia’s Finance First Initiative
  • May 2nd in Sydney, Citigroup Australia, the YWCA NSW and the NSW Department of Education and Training announced the launch of “Finance First,” the first curriculum-based financial education program for primary school aged children. “Finance First” teaches the basics of money management and consists of two programs: MakingCents, a program for primary school children and EvenStart, a program for adults wanting to get a handle on their household finances. Ron Bunker, Chairman of the Citibank Board, and Jocelyn Murphy, YWCA NSW Executive Director, made the announcement at the Alexandria Park Community School.
  • At the event, the Hon Carmel Tebbutt, MLC, NSW Minister for Education and Training, announced the results of the “Kids and Money” study commissioned by Citigroup Australia and YWCA NSW, and conducted among parents by Newspoll in March. The study revealed that at least one in four children (between the ages of five and 12) influence major household purchases, less than 40% of children who receive pocket money have earned it and less than one in four (223,000) children save their entire allowance. The research also indicates that parents believe they are the major influence on their child's understanding of money, followed by teachers, grandparents, television and their child's peers.
  • Schools from across New South Wales have been invited to participate in the program and funds have been allocated to support professional development for up to 1,100 government and non-government primary school teachers. Professional development sessions cover a step-by-step explanation of key topics, resource materials and suggested lesson plans.
EMEA - BAHRAIN
 
Junior Achievement Bahrain
  • May 2nd in Manama, Deema Murad, Citigroup Public Affairs Officer, and Shaikha Hessa bint Khalifa Al Khalifa, Executive Director of inJAz Bahrain, announced a US$10,000 grant from the Citigroup Foundation to inJAz Bahrain, a member nation of Junior Achievement (JA) Worldwide, to support the establishment of JA's Bahrain Chapter.
  • Citigroup employees are volunteering in two programs, “Learn to Earn” and “Leadership Skills.” In “Learn to Earn,” a financial education program designed to show students the relationship between education and personal goals, Citigroup employees taught 80 students at the St. Christopher School about budgeting and money management. Citigroup employees are also participating in the "Leadership Skills" Program, a ten-week program available to 10th grade public school students that presents guidelines and skills to becoming strong leaders.
  • The Citigroup Foundation's commitment to Junior Achievement’s Middle East operations includes establishing a regional office in Amman, Jordan and country chapters across the Arab World.
MEXICO
 
Saber Cuenta (Knowledge Counts)
  • May 25th in Mexico City, Banco Nacional de México (Banamex) announced the launch of “Saber Cuenta" (Knowledge Counts), the first financial program in Mexico. Alfredo Harp Helú, Chairman of the Board, Grupo Financiero Banamex, and Manuel Medina Mora, CEO of Banamex, hosted the ceremony. Distinguished guests included Josefina Vazquez Mota, Minister of Social Development, Reyes Tamez, Minister of Public Education, and Arturo Zapata, Chairman of Impulsa (Junior Achievement in Mexico), as well as representatives of Institutes that collaborated on the project.
  • Loreto Garcia Muriel, Director of Financial Education in Banamex, will lead the program which is geared for children, teenagers, and adults of all socio-economical backgrounds, as well as families, academic institutions, micro-businesses, organizations and communities. The program will include lessons and information on income generation, savings, credit, and budgeting.