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Financial Education
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Highlights
Citi's Financial Education Program
 
Highlights December 2006 and January 2007
 
United States
 
Citi's Credit-ED Challenge Integrated Into Financial Education Programs For Drexel University's LeBow College of Business Freshmen
  • Jan 9th- For the first time since its launch in 2005, Citi's Credit-ED Challenge, a free, interactive financial education workshop, is incorporated into a curriculum requirement for college freshmen of a major university. Starting this fall, faculty at Drexel University's LeBow College of Business in Philadelphia, Pennsylvania, have had freshmen complete the Credit-ED Challenge as a part of the financial education component of the Drexel University Seminar course for LeBow College freshman students.
  • The Citi Credit-ED Challenge was first introduced to Drexel University students in the spring of 2006 as part of the Citi/EdVenture Partners program. The Citi/EdVenture Partners program provided students at LeBow College of Business the opportunity to design and implement an on-campus campaign to educate fellow Drexel students about the importance of fiscal responsibility. Through their campaign, the Citi/EdVenture Partners class motivated 578 students on-campus to take the Credit-ED Challenge and get Credit-ED Certified.
  • The Credit-ED Challenge was developed by Citi's award-winning Credit-ED program to provide much-needed financial education to college campuses across the country. The Credit-ED Challenge is a free credit education workshop that takes students through four modules designed to test their financial knowledge.
CitiFinancial and Operation HOPE embark on Blitz Teach
  • On December 20th, CitiFinancial employees embarked on a final Blitz Teach for Operation HOPE. The eleven (11) employee-volunteers taught grades 4 to 8 at Dickey Hill Elementary, located in Northwest Baltimore City. This was a successful session reaching more than 250 students. In 2006, 46 CitiFinancial and Baltimore-area Citigroup employees have taught close to 1,200 students in collaboration with the Operation HOPE initiative.
  • Nationwide, 12,783 students learned personal money management skills with the help of over 360 Citigroup volunteers through Operation Hope’s Banking on Our Future Program. The program is made possible by a grant from the Citigroup Foundation and supported financial education classes in eight markets including Atlanta, Baltimore, Dallas, Detroit, Chicago, New York City, Southern California, and Washington, DC.
Citigroup's Office of Financial Education Participates in the Girl Scouts annual Making Cents in the City in St. Louis.
  • On Saturday, December 2, the Girl Scouts of St. Louis and Citigroup hosted their second Making Cents in the City event. Melanie DiLeo, Citigroup Community Affairs, welcomed over 150 Girl Scouts from St. Louis from the ages of 11 - 17 years.
  • The 2-day event consisted of workshops centered on personal finance. The Citigroup Financial Education Curriculum was used as the basis of these workshops and over 25 Citigroup volunteers from various Citigroup businesses created and facilitated the workshops and acted as chaperons.
  • Shonna Jones-Jacobs, Citigroup, Office of Financial Education was the keynote speaker and spoke about her personal experience as a youth regarding personal finance.
Citigroup’s Office of Financial Education Co-Sponsors the Second Annual “Financial Fitness Fair” in New Hampshire
  • On Saturday, January 20, the New Hampshire Jump$tart Coalition hosted a one day event to help teens learn about money, spending, and saving at Southern New Hampshire University in Manchester.
  • Bryan Lewis and Sara Reiner of Citigroup’s Office of Financial Education attended the sessions and passed out literature to over 100 teen attendees and their parents.
  • Dan Hebert, President on NH Jump$tart, stated, “Teens are faced with financial options their parents couldn’t have imagined at their age. Unfortunately, we provide our kids with very little information about how personal finance really works.”
  • To help get the message across, the event opened with an award-winning lecturer using razor-sharp wit, comedy, and an exciting multimedia presentation to teach the essential skills in earning, spending and saving money properly.
Massachusetts Association of Student Financial Aid Administrators
  • The Student Loan Corp, a member of Citigroup, presented on “Financial Literacy” at the Massachusetts Association of Student Financial Aid Administrators (MASFAA) conference on December 1, 2006.
  • Directors of Financial Aid for professional level students (medical, law, business, etc) were in attendance to discuss Financial Education topics such as:
  • Your credit history, What’s in your report, Who reads your report and what they learn, The 5 C’s of credit, FICO scores, Savings vs. investing and Making a financial plan (Budgeting).
ABC World News- America This Morning
  • On January 10, Dara Duguay, Citigroup’s Director, Office of Financial Education was interviewed on ABC America This Morning, providing Financial Tips for 2007. Duguay spoke about Citigroup's Financial Education commitment and gave examples of FE programs, among the topics discussed were:
  • Don't treat money as a taboo, Create emergency fund/Get insurance, Pay more than minimum on credit cards and Contribute maximum to retirement savings plan.
Canada
 
The Citigroup Foundation Awards $80,000 in Financial Education Grants in Ontario
  • On January 31st, CitiFinancial and Citi Cards Canada worked with community agencies and the Citigroup Foundation to secure grants totaling $80,000 for financial education programs. Jeff Low Senior Vice President for Human Resources for CitiFinancial presented the grants to the following organizations:
  • University of Western, OntarioNokee Kwe Occupational Skill Development, The Salvation Army Centre of Hope and Junior Achievement of London and District.
  • More than sixty-five Citigroup employees received training this month to deliver the Citigroup Financial Education K-8 curriculum to students in London.
U.S. Financial Education Training
  • As of January 31, over 5,300 employees and non-profit partner staff have undergone training to teach financial education using the Citigroup Financial Education Curriculum.
  • Nearly 3,200 people have participated in the online training since the April 2005 launch of the site.
Asia Pacific
 
Korea: Citigroup and YWCA hold Financial Education Essay Contest for Youth
  • On December 1, 2006, Citibank Korea and YWCA announced the winners of a public essay contest for students who had participated in the Citibank-YWCA “Think Money” financial education program.
  • From the 48 applicants, 15 essays were chosen for first-round judging and 13 were selected for the final round. Three winners were awarded by the Ministry of Finance and Economy, Citibank Korea and National YWCA Korea, and 10 runner-ups were also recognized. The judging panel consisted of representatives from the Consumer Protection Board, the Ministry of Finance and Economy, Korea Development Institute, and local media.
  • The essays were written as the format of a letter to friends to share their experience and learning from the “Think Money” Financial Education Program for Youth which was launched by Citibank and YWCA in Korea earlier in 2006 with major funding from the Citigroup Foundation.
Philippines: Citibank launches “Take Charge of Your Money” campaign
  • In partnership with the Lifestyle Network (a popular local cable channel), Citibank’s first financial education video series called “Take Charge of Your Money” (TCYM) was aired in the Philippines between November to early December 2006.
  • Produced by Citibank, four 50-second video clips were broadcast during primetime show slots addressing financial issues and concerns faced by women in their 20s, 30s, 40s and 50s-60s. At the launch, Cecille Fonacier, Country Marketing Director for Citibank Philippines, said, “The Philippines is largely a matriarchal society and women normally manage finances for the family. With a growing number of double-income households, women are no longer just handling the husband’s income but also her own. Given this, women in the Philippines now more than ever, need to be able to make informed decisions about money management.”
  • The videos are now being played in the Citibank branch customer lounges across the country. In addition, weekly personal finance articles were posted on www.INQ7.net - a high traffic new site (under the same TCMY banner).
Hong Kong: Hong Kong University and Citibank inaugurate third University Banking Course
  • On January 23, Citibank and the Faculty of Business & Economics of the Hong Kong University (HKU) held an inauguration ceremony for the “HKU-Citibank University Banking Course 2006-2007." This is the third year that Citibank and HKU have offered the course for selected students studying at the Faculty of Business & Economics.
  • Designed to provide students with a comprehensive and real-life look at modern banking operations, the program’s lectures and discussion groups are hosted by experienced Citibankers. Funded by the Citigroup Foundation and jointly organized by Citibank and HKU, the program is part of the Citigroup Hong Kong Financial Education Series.
Hong Kong: Citigroup launches new Youth Investment Education Program
  • Over 1,200 students from 110 schools attended the first of three Citigroup Youth Investment Education Program seminars held on January 20. A range of topics including “Fundamental concepts of financial management”, “How financial markets operate” and “Financial markets in Hong Kong and China” were discussed at sessions presented by special guests: Dr. Chan Yan Chong, MBA Director – Faculty of Business, City University of Hong Kong; Mr. Chordio Chan, Head of Risk Treasury, Emerging Markets Sales and Trading, Citigroup; and Mr. Arthur Shek, Associate Publisher of Hong Kong Economic Times.
  • This new program is funded by the Citigroup Foundation and is run in partnership with the Learning Society and the Hong Kong Economic Times. Students aged 15-16 not only get the chance to learn about financial concepts but also put them into practice. In stage one, students learn about financial basics during the seminars. Then, at half-day workshops (to be held in February), the students will be taught stock research and trading skills in preparation for an innovative online trading competition to be held in stage two.
  • For the online trading game, students will be given IDs, passwords and stock trading accounts for the period February 5 - March 31. During this time, the students can test their skills to buy and sell a total of 73 stocks, as well as specific local shares and funds. At the end of the two-month “trading season”, the winning team will be the one with the highest value in their accounts.
  • A Financial Quotient Workshop and Award Presentation Ceremony (to be held in April) will be the last stage of the program. At these events, investment experts will not only evaluate the performance of the respective teams, but will also help them to develop healthy saving and investment habits for the future.
EMEA
 
Hungary: Citigroup Continues Financial Education School Charity Program with Large Donation
  • On December 15, Citibank Zrt., a member of Citigroup, announced the continuation of the Citibank Financial Education Program launched in 2001 in partnership with Junior Achievement Hungary (JAH). The Citigroup Foundation has given a $160,000 donation to JAH, which will provide teaching materials to more than 15,000 students in 36 elementary schools and three SOS Children's Villages and four Youth Home Facilities across Hungary.
  • Together with this year's support, the Citigroup Foundation had donated a total of $680,000 to Junior Achievement Hungary, and 85,000 students in 178 different schools and seven orphanages have gained access to educational resources and training through this program.
  • The aim of the program is to provide schools with modern, technology-based curriculum resources and innovative teaching strategies, which will increase students' knowledge, skills and performance in economics, mathematics, finance and English.
Pakistan: Citigroup Sponsors “Developing Tomorrow's Business Leaders”
  • "Developing Tomorrow's Business Leaders" was the overriding theme at the Citigroup Foundation sponsored seminar on "Introduction to Risk Management" organized for students of finance and banking, in collaboration with The Institute of Business Administration, Karachi, (IBA). Scheduled from December 11-23, 2006 during the academic winter break, the program was held at the Center of Executive Education, IBA with 30 students coming in from all parts of the country.
  • Funded entirely through a Citigroup Foundation grant of US$25,000 this program reinforced Citigroup's global initiative to drive financial education programs that assist academic and financial institutions in promoting knowledge and sound management of economics, markets, and financial systems.
Indonesia: Citigroup Supports Innovative Financial Education Training Program for Microentrepreneurs
  • December 6, Citigroup Indonesia sponsored an innovative Financial Education "train-the-trainer" program that promotes the development of microentrepreneurship in South East Asia. Thirty participants from five countries in the region participated in an eight-day training workshop.
  • Trainers will have the skills, knowledge and expertise to teach money management and business basics to microentrepreneurs in their respective countries. Topics covered included, budgeting, debt management, financial negotiation and banking services. The modules will also include successful microfinance case studies from various countries.
  • Shariq Mukhtar, Country Business Manager, Citibank said, "Financial education is an important investment for everyone and through this initiative we will help microentepreneurs in Indonesia, and other countries to identify ways to build their businesses in the long term."
Latin America
 
Citigroup's Banga on Microcredit Being Good Business / Beyond Responsibility & Philanthropy, Citigroup Consolidates its Commitment & Solidarity with the World's Poor
  • Press article featuring comments from Ajay Banga, Chairman and CEO, Citigroup, Global Consumer Group International, commenting on how the elimination of poverty in the world lies in micro-credit and financial education.
  • Citigroup continues its commitment in the fields of social responsibility and corporate philanthropy and works to integrate micro-credit and financial education into the financial industry. The article also highlights a few of The Citigroup Foundation supported Financial Education programs in Latin America.
Citigroup & Junior Achievement Announce Winners of "JA Banks in Action" Tournament
  • The 2006 JA Banks in Action Latin America Regional Tournament was the biggest since it’s beginning in 1998. A total of 17 countries including Argentina, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Panama, Paraguay, Peru, Trinidad & Tobago, Uruguay and Venezuela sent the winners from their national student competitions to Panama to compete for the title.
  • Brazil’s team was the winner of this year’s “JA Banks in Action” Regional Tournament. The event was held in Panama City, Panama, from November 27th through the 30th. JA Banks in Action provides high school students the opportunity to learn about the many facets of banking including how banks operate in a competitive market. It includes a competition in which student teams assume the role of bankers and make banking decisions.
  • To win the competition they must set interest rates on funds for short and long-term deposits and loans to attract savers and borrowers, and determine how much to invest in marketing, research and development to lower the cost of operations. The team that creates the strategy to best serve their customers manage their bank’s assets and liabilities and increase their profits wins the competition. The Banks in Action regional competition is made possible by a grant from the Citigroup Foundation.
Ecuador: Citigroup-Sponsored "Banks in Action" Program Gives 1,000 Students Training in Management
  • Thanks to Citigroup Foundation's support to Junior Achievement Ecuador, a new cycle of the education program "JA Banks in Action" was implemented for this year. More than 1,000 students from 16 schools of the cities of Quito and Guayaquil participated in the program during 2006. Through JA Banks in Action student learn about how banks work, banking products and services and careers in banking.
Ecuador: Entrepreneurs Encounter
  • Citigroup Ecuador has also supported microbusiness programs during the last four years, through Fundacion Esquel and the "Entrepreneurs Encounter" contest. Through this program, youth are encouraged to present innovative business ideas, receiving during the process training, which teaches them how to structure a correct business plan and how to convert their ideas into a reality. Winners receive start-up funds to begin their businesses.
  • In 2004, Citigroup initiated a relationship with Habitat for Humanity (HFH), and up to now; several houses have been built in Quito and Guayaquil, benefiting local communities. In 2006 Citigroup and HFH launched”Financial Literacy" program, to train potential homeowners in the roles and responsibilities they will assume when entering into a credit agreement.