#
Financial Education
Knowledge is your greatest asset. SM
#

     Printer Friendly Page
 
 #
Highlights
Citigroup Financial Education Program
 
Highlights September 2006
 
EMEA
 
Poland- Citibank Handlowy at the International Conference in Warsaw
  • Citibank Handlowy at the International Conference in Warsaw - Role of Central Banks in Economic and Personal Finance Education The National Bank of Poland (NBP), Federal Reserve Bank (FED) of New York and European Central Bank (ECB) held in Warsaw (28-29 September) the international conference on the Role of Central Banks in Economic and Personal Finance Education.
  • The purpose of the conference was to draw public attention to the need to promote the economic knowledge: central bank engagement in educational programmes run in cooperation with non governmental organizations as well as domestic and foreign private businesses.
  • MY FINANCES Programme – a joint venture of Kronenberg Foundation, Citibank Handlowy, and Citigroup Foundation/NBP/JAF - was widely presented during the first day session. JAF presented the objectives, qualitative and quantitative results of the programme, and the financial and content-related commitment of Kronenberg Foundation as the private sector partner. Citibank Handlowy was presented as the most socially responsible corporate partner of JAF - also the commitment of the experts and volunteers from Citibank Handlowy, who developed and reviewed educational materials and conducted finance classes at schools across Poland, was stressed - especially the involvement of Senior Management.
Romania: Citigroup & Gillette Sponsor "Economics for Leaders" Program
  • The Summer School for economic education, "Economics for Leaders," organized by Junior Achievement România (JAR) and Foundation for Teaching Economics (FTE) and funded by Citigroup Foundation and Gillette, was held this month at Cheile Gradistei, and was attended by 60 people.
  • "Economics for Leaders" offered to the 30 high school students and 30 economics teachers up-to-date economic information and the opportunity to specialize in micro and macro free market economy. The one week long program was structured in sessions and workshops, consisting of practical teamwork and leadership activities for students. The courses were conducted by Raymond Fishe, professor of Economics at Richmond University from the state of Virginia in the U.S., professionals from Citigroup, and representatives of JA Romania. The program is promoting professional development of both the economics teachers and the student winners of Junior Achievement competitions.
Latin America
 
Uruguay: Citibank & JA Launch "Banks in Action" Financial Educational Program
  • September 6, the ninth edition of "Banks in Action" was launched, an educational program that is jointly organized by DESEM Jóvenes Emprendedores and Citibank with the participation of 480 students from across the country.
  • In Uruguay, students must be from the sixth grade, interested in economics and attend a public or private school. Participants will be divided into 160 teams; they will operate a banking simulator that explains the functions of a bank. The simulator lasts eight weeks during which time the students analyze and solve the decisions taken that are communicated via email.
  • In the first week of October, the national competition will come to an end and based on the rankings of the teams, the finalists will be determined. The Latin American finals will take place in Panama at the end of November.
Panama: Citibank & Junior Achievement Launch "Banks in Action" Education Program
  • September 8, On Thursday, August 17th, the Banks in Action program for 2006 was launched in Panama. Banks in Action is a program implemented in schools with students from the twelfth grade. It introduces the students to the principles of savings and credit, which are the bases of economic growth.
  • To achieve this objective, Junior Achievement of Panama has a bank of computers programmed to simulate the behavior of banks in a competitive market. This year approximately 600 young bankers – originating from the capital city and the interior of the country – will be challenged to make the most important decisions that have a direct impact on the economic performance of a financial institution.
  • The program began on August 21 and will have duration of ten weeks. Five competitive rounds determine the team that will represent Panama internationally. Each school has volunteer executives from Citibank who guide the youth, teach financial concepts, and help illustrate to the students the evolution of the banking industry.
Chile: Tools For the Future: Two Schools Chosen for Citigroup Financial Education Project
  • September 18, Naciones Unidas and República Arabe Siria schools in Playa Ancha, will benefit from the Community School Library and Financial Education program implemented by La Fuente Foundation, with financing from Citigroup and The Citigroup Foundation.
  • For an investment totaling US$231,000, the project has put a library in each of the schools. These schools were chosen as the result of a contest run by La Fuente Foundation. A total of 2,000 underprivileged children will benefit from this project.
  • For the first time last year, projects were supported in eight regions in Chile now they are repeating this successful initiative in Valparaíso, and from there they want to go on to the districts of Renca, Macul and Cerro Navia in Santiago.
Paraguay: Citibank Celebrates 48 Years
  • September 22, Citibank, the largest financial institution in the world, is celebrating its 48th anniversary in Paraguay. As a part of its social responsibility program, Citibank sponsors numerous financial education projects in conjunction with a diverse number of non-profit institutions. Among others, Citibank works with Junior Achievement, a community service program through the Dequeni Foundation.
  • It is important to mention that Citibank Paraguay Employees contributed around 500 volunteer hours to the different community activities.
Paraguay: Citibank & Junior Achievement Launch "Banks in Action" Program in Ita
  • September 27, the program is a bank simulation created by Junior Achievement , which allows the students to manage a bank under competitive conditions, permitting them, makes decisions in a basic operation of the banking industry.
  • Citibank's support for this program is part of Citigroup's plan to contribute $200 million for financial education in a period of ten years in all of the countries where Citigroup is operating, including Paraguay. This is the third financial education project that Citibank supports in Paraguay.
  • With the others two programs: MESE and La Escuelita, the financial institution is providing financial education to almost 6,500 students from pre-elementary and high schools. Banks in action will cover 17 cities around the countryside and the capital. Participation from around 2,200 students from public high schools is expected.
  • The final competition will be in Citibank’s main branch, and will include the best teams from every city in Paraguay. The winner of the national competition will be announced and will represent the country in an international contest, where 17 countries from Latin America will be competing next November.
Brazil: Citigroup Sponsors Juvenile Entrepreneurship & Microcredit Project
  • The Juvenile Entrepreneurship and Microcredit course created by Fundação Abrinq and Citigroup will help low-income youth between the ages of 18 and 24. The program will train, orient and extend a loan to small business ownership candidates. The objective is to train 720 youngsters over a four-year period. Of the first 90 selected, 70% will receive microcredit.
  • With the assistance of the University of São Paulo's (USP) Solidary Economics Nucleus (Nesol), participants undergo training to prepare market analysis and a business plan. A specialized committee analyzes the business plan developed by students and if approved, participants may be eligible for a loan to be paid back within a four to six-month period at a monthly interest rate of 1%. Also if in the future participants wish to obtain a second loan, the bank's records will show that an individual took out a loan and paid it back.
  • Citigroup volunteers trained by Fundacao Abrinq will monitor plan participants.
Asia Pacific
 
Guam - Citibank Dollars and $ense Financial Education program debut at Inarajan Elementary School
  • Inarajan Elementary School was the first school in Guam to roll out "Dollars and $ense" Financial Education program for its third and fifth graders. This new program, managed by Junior Achievement Worldwide and Citibank Guam, was launched on September 29.
  • Run over six classroom lessons, the students were taught the concepts of earning, spending, sharing and saving money in "Dollars and $ense." The program is packaged in a portfolio that includes session plans, informative take-home flyers (for students and families), and additional learning materials to ensure a successful experience for students, volunteers, staff and teachers.
  • Inarajan Elementary School is one of the 25 elementary schools under the Guam Public School System. The school's third and fifth graders make up about 40% of the total student population and more schools are likely to be involved in this program next year.
Indonesia - Citigroup Success Fund 2006: Creative Projects to be implemented in 92 schools
  • 92 teachers from greater Jakarta, Bandung, Semarang, and Surabaya will be implementing new creative learning programs with grants provided by the 2006 Citigroup Success Fund (CSF). The teachers will each receive a Rp5m grant and have until the end of 2006 to implement their programs. From these, the 10-best projects will be entered into the grand final to be held next year.
  • This year's projects will be focused on “Financial planning and education” and “Activities related to topical issues and news stories”. More than 800 Citibank Peka volunteers have participated in the CSF program since 2003.
Malaysia - Citibank launches "Use Credit Wisely" on BlueHyppo
  • Citibank’s ‘Use Credit Wisely’ internet site is now in English and Bahasa Malaysia. Citibank collaborated with TM Net to further increase awareness and educate the general public, on the benefits and relevance of financial education. The site will reach a broader cross-section of the population through TM Net’s lifestyle portal, BlueHyppo.
Taiwan - Citigroup Kids Wealth Foundation Program to reach over 30,000 students
  • The Citigroup Kids Wealth Foundation (CKWF) financial education program aims to teach over 30,000 elementary school students by February 2008.
  • Run in collaboration with the Financial Supervisory Commission and IfKids Theatre Company the recently launched 2006 CKWF builds on the success of the 2005 debut campaign.
  • This new program will provide more information on credit, interest, and careful spending to sixth graders (10-12 year olds). The 2006 campaign will also explain the difference between economic needs and wants, and the importance of saving and planning to realize future goals.
Ashok Vaswani presented at OECD conference on Financial Education in New Delhi
  • Ashok Vaswani presented at the OECD conference in New Delhi to over 100 delegates from 15 countries.
  • In his presentation, Ashok described Citigroup’s approach as two-pronged, aimed at fulfilling our responsibility to consumers of financial services at large and also to the community. He illustrated this with the many programs that Citigroup has introduced in Asia Pacific.
  • Citigroup was the only commercial bank invited to speak at and attend the event.
U.S. Financial Education Training
  • To date, over 4,800 employees and non-profit partner staff have undergone training to teach financial education using the Citigroup Financial Education Curriculum.
  • Over 3,000 people have participated in the online training since the April 2005 launch of the site.
United States
 
Clinton Global Initiative
  • Ajay Banga, Chairman and Chief Executive Officer, Global Consumer Group –International, recently participated in a panel at the Clinton Global Initiative (CGI) with U.S. Senator Hillary Rodham Clinton who moderated a special session called “Women and the Power of Economic Opportunity.” Citigroup and the Citigroup Foundation was the prime sponsor for the Poverty Alleviation Panel at CGI.
  • During the Clinton Global Initiative, Citigroup committed $100 million to expand and accelerate Citigroup’s global commitment to supporting the growth sustainable microfinance institutions (MFI), which provide financial services to low income and poor individuals. Partnering with the Overseas Private Investment Corporations, Citigroup will significantly increase funding to MFI’s in Africa, Asia, Central/Eastern Europe and Latin America. Additionally Citigroup presented a commitment of $5.5 million for Global Micro Finance Programs at the Clinton Global Initiative (CGI) mid year conference in New York City.
  • Over a thousand leaders of business, government and non-governmental organizations attended this year’s meeting of CGI, in addition to nearly 50 current and former heads of state.
U.S.: Financial Education Volunteer Opportunity
  • The Office of Financial Education hosted three Web meetings in September to promote National Get Smart About Credit Day, a financial education volunteer program sponsored by the American Bankers Association Education Foundation (ABAEF).
  • ABAEF Programs, which also include Teach Children to Save Day, enable employees from financial institutions to teach students in grades K-12 better spending and saving habits as well as how to budget, use credit cards wisely, and build a positive payment history.
     
    Over the last three years, 1,367 Citigroup employees have taught more than 40,000 students through ABAEF. This year, in addition to taking part in National Get Smart About Credit Day on October 19, the program will be available across the country and year-round to all U.S. Citigroup employees as a self-service volunteer opportunity.
Citigroup's Office of Financial Education Expands Training across Citigroup Businesses
  • Citigroup Office of Financial Education had two major events, which involved the training of Citigroup Employees in Texas and New York.
  • Texas - In a commitment to provide Financial Education throughout Texas via community involvement and volunteerism, Citibank Texas launched a state wide effort to effectively train as many associates as possible on Citigroup’s Financial Education Curriculum. On Thursday and Friday, September 7th and 8th, the Office of Financial Education trained a total of 88 Citibank Employees and several of their non-profit partners.
  • New York - In an effort to leverage Financial Education within local schools and colleges, The Student loan Corporation invited the Office of Financial Education to join their Fall Summit and train their employees on the Citigroup Financial Education Curriculum. Over 100 Associates were in attendance and were trained on the curriculum. Following the training, all associates were challenged with the task to introduce the curriculum to local schools and to deliver at least 5 presentations over the next year.
Citigroup partnered with the National Council of La Raza
  • Citigroup partnered with the NCLR (National Council of La Raza) on September 30th and presented on the topics of "Money Management" and "Building Your Credit".
  • The two sessions engaged over 70 students on the importance of establishing and maintaining an appropriate credit score and goal setting with the proper money management disciplines to build wealth.
  • The September 30th event brought together over 300 students who not only attended this powerful event but through collective interaction developed an on going relationship where Citibank will continue to be an essential component in there future financial and individual lives. As a result, La Raza has requested for Citigroup's "FE" program to be presented throughout nationwide locations.
U.S.: Citi Awards College Scholarships to Third Annual National Essay Contest Winners
  • New York – September 14, After putting their writing and money management skills into practice, seventeen high-school students were awarded a total of $39,500 in college scholarships by Citi Cards for their winning essay entries describing a personal experience that positively affected their financial management skills. The Citi/Scholastic National Essay Contest is a joint effort between Citi's Credit-ED® Program and Scholastic, the global children's publishing, education and media company. Additionally, $10,500 is awarded to the winners' teachers.
  • The essay contest is part of Citi's effort to deliver its award-winning Credit-ED Program into high schools nationwide and raise awareness of the critical need for financial education among teens. The initiative also includes lessons on money-management and writing skills, and provides classroom materials to English teachers, guidance counselors and business/economics teachers to help high-school students prepare for college. This year, high school students from across the country submitted a 500-word entry essay.
  • Since its inception in 2000, Citi's Credit-ED Program, an ongoing and comprehensive credit education initiative for students, has distributed more than 1 million credit education materials for free to students, administrators and parents.
Massachusetts Money Conference for Women
  • Citigroup was the major sponsor for the Massachusetts Money Conference for Women in Quincy, MA on Sept. 30th. This is a project of State Treasurer Timothy Cahill. There were over 1,200 women in attendance. Citigroup was represented in the exhibit area and Dara Duguay, Director of the OFE, delivered a session called "Credibility: Taking Your Credit Pulse." Additionally, Use Credit Wisely booklets were distributed to all participants. Five breakout sessions on different personal finance topics were offered in the morning and five in the afternoon. Deval Patrick, candidate for Governor, made a special visit.
CFED- Corporation for Enterprise Development.
  • September 21, Dara Duguay, Director, Office of Financial Education, Citigroup participated in a panel during the 2006 Assets Learning Conference—A Lifetime of Assets: Building Families, Communities & Economies—in Phoenix, Arizona. Citigroup was a major sponsor of the overall CFED conference.