Citi Financial Education Program

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Citi's Financial Education Program

Highlights April 2007

United States

Citi introduces “The Citi Commonsense Money Guide for Real People”

On April 17th, Citi introduced its first-ever personal finance guide, “The Citi Commonsense Money Guide for Real People.” Published by Rodale Publishing and available in bookstores for $25.95, this book offers easy-to-understand solutions to overcoming common financial hurdles including saving regularly, paying down debt, facing unexpected financial curveballs and more. The book, edited by Dara Duguay, Director of Citi’s Office of Financial Education, taps into the broad experience Citi employees have in providing financial advice to customers.
“The Citi Commonsense Money Guide for Real People” offers suggestions to readers on how to achieve financial health by tackling the various aspects of money management through a series of simple yet effective steps. The guide is divided into three easy-to-follow sections, which together teach consumers how to avoid the financial pitfalls that life can present.
Many Citi businesses have purchased large quantities of this educational book, with the intention of distributing them to customers, employees and non-profit partners. Citi customers and employees can order the book at a discount by visiting the dedicated fulfillment site: http://www.thebook-store.com/citi.

Citi’s Office of Financial Education Celebrates Its Three-Year Anniversary – announces $32 Million spent on Financial Education in 2006

In April, Citi and the Citi Foundation celebrated the third anniversary of our unprecedented 10-year, $200 million global commitment to Financial Education. In 2006, Citi invested over $6 million and the Citi Foundation invested nearly $26 million in financial education in 72 countries, for a total of nearly $85 million to date, putting us well ahead of schedule. Citi Foundation programs reached 1.7 million people, and Citi -sponsored programs reached 1.8 million, together touching the lives of more than 3.5 million people worldwide in 2006.

Citibank Sponsors “Mad About Money,” Reaching 2,500 Students in New Jersey

As part of its commitment to financial education, Citibank sponsored 12 performances of the National Theatre for Children’s production of “Mad About Money” reaching 2,500 middle school students in New Jersey the week of April 16th – 20th. “Mad About Money” is a live theatrical production focusing on the concepts of saving, budgeting, credit and investing.
The program features characters that appeal and speak to students in grades 6-8. The production features four different educational sketches designed to teach: how to prioritize needs and wants, the difference between cash and credit, the importance of investing and forming a savings habit.

Citi Participates in the South Dakota Jump$tart Coalition’s Financial Education Conference

Citi was a primary sponsor of the South Dakota Jump$tart Coalition’s kick-off financial education conference, which was held in Pierre, SD on April 26th and 27th. Dara Duguay, Director of Citi’s Office of Financial Education, delivered the keynote address. The conference also featured participants from the American Bankers Association Education Foundation, the South Dakota Department of Education, the Federal Reserve Bank of Minneapolis and several high schools in South Dakota.

Citi Participates in New Mexico Lieutenant Governor's Summit on Financial Education

Bryan Lewis, Deputy Director of the Office of Financial Education addressed a crowd of over 400 Financial Literacy Advocates for the state of New Mexico during the Lieutenant Governor's Summit on Financial Education. The speech focused on Citi's global commitment to financial education, the importance of financial literacy curriculum in local schools, and how working in coalitions is an important way to reach the masses on the issue.
This event also marked the launch of the New Mexico Jump$tart Coalition. The daylong conference, held at the Albuquerque Marriott, featured seminars on investing, investment fraud, identity theft and credit counseling. For teachers, there was a workshop on teaching the basics of saving and investing.
The Lt. Governor Diane Denish, Attorney General Gary King, and Jump$tart Regional Director Nancy Brown were in attendance.

Citi Celebrates the Efforts of the House Financial and Economic Literacy Caucus

On April 24th, the Citi Office of Financial Education hosted a special reception to honor the efforts of the U.S. House of Representatives Financial and Economic Literacy Caucus. Approximately 85 representatives from the government, business, education and the non-profit sector attended the outdoor reception, which was held on the 12th floor terrace of Citi’s DC Government Relations office.
Special guests included Jean Chatzke, the award winning journalist, author and financial editor of NBC’s Today Show and Congressman Ruben Hinojosa, who co-chairs the Caucus with Congresswoman Judy Biggert.

Citi Volunteers Take Part in the Washington Area Jump$tart Coalition’s Inaugural Event

On April 25th, Citi joined forces with other members of The Greater Washington Jump$tart Coalition (GWJ$) to celebrate Financial Literacy Month by simultaneously teaching financial basics to nearly 2,000 Washington, D.C. high school students. This was the local coalition’s inaugural event, with the goal of maximizing the group’s effectiveness by providing local juniors and seniors with a crash course in the financial facts of life before leaving school.
The collaboration was also designed to foster future relationships between participating organizations and the Washington, D.C. Public School system. Several dignitaries participated in the event, including Chairman Bernanke of the Federal Reserve, Chairman Majoras of the Federal Trade Commission and Commissioner Atkins of the U.S. Securities and Exchange Commission. Representatives from D.C. government and public school system also attended.
Nearly 30 Citi volunteers took part in the program, presenting the important financial concepts of budgeting, credit, and identity theft in seventeen area high schools. The GWJ$ organizations providing speakers for this event included: Citi and Smith Barney, American Bar Association, Financial Planning Association, Federal Reserve, Securities and Exchange Commission, and the Federal Trade Commission.
Of the participating schools, the “signature” event was held at Woodrow Wilson Senior High School, and featured remarks from Dr. Clifford Janey, Superintendent of DC Public Schools, Ben S. Bernanke, Chairman of the Federal Reserve Board, and Dara Duguay, Director of Citi’s Office of Financial Education.

Citi Sponsors Iowa Women and Money Conference

On April 21st, Citi was the platinum sponsor of the Iowa Women and Money Conference, presented by the Office of the State Treasurer, Mr. Michael L. Fitzgerald at Drake University. The full day program featured financial education presentations and breakout sessions conducted by various professionals from business, government, education and non-profit organizations. Dara Duguay, Director of Citi’s Office of Financial Education, presented “How to Overcome Self-Defeating Money Moves,” which focused on strategies to help ensure financial success.
The conference served as the culmination of the first ever Money Smart Week Iowa (April 16 – 21), which featured a week full of free financial education workshops open to the public. Money Smart Week Iowa represented a collaboration of financial institutions, non-profits, schools, libraries and others partnering together to help support financial education in Iowa.

Citi Serves as Platinum Underwriter for the 2007Jump$tart Coalition’s Awards Dinner

The Jump$tart Coalition kicked off its Financial Literacy Month activities with its annual awards dinner on April 18th at the Renaissance Washington, DC Hotel. Citi served as the Platinum Underwriter for the event. The agenda featured remarks from Harry Goff, Chairman and CEO of CitiFinancial North America. In addition, each of the over 300 guests received a free copy of the “Citi Commonsense Money Guide for Real People,” courtesy of CitiFinancial.
Additional Citi attendees included Michael Reardon, President and CEO of the Student Loan Corporation, Dara Duguay, Director of Citi’s Office of Financial Education and many others representing various Citi businesses. Federal Legislator Awards were presented to Senator Michael B. Enzi of Wyoming and Rep. Earl Pomeroy of North Dakota. The William E. Odom Visionary Leadership Award was presented posthumously to the son and widower of Elizabeth Schiever, formerly of the National Endowment for Financial Education. Louisiana Jump$tart won the State Coalition of the Year Award. Television host and author Dennis McCuistion kept the guests entertained as the evening's emcee.

Citi Participates in Fifth Annual “Financial Literacy Day on the Hill”

April 24th marked the fifth annual “Financial Literacy Day on the Hill,” a program coordinated by the Jump$tart Coalition for Personal Financial Literacy, along with JA Worldwide and the National Council on Economic Education. Held in the Cannon House Office Building, this afternoon program showcased the financial education efforts of over 50 non-profit, educational and corporate entities, and was attended by nearly 500 Congressional staffers.
The purpose of this annual program is to showcase the need for financial education to federal policy makers. Citi’s Office of Financial Education was on hand to showcase the Citi Financial Education Curriculum, as well as other financial education programs and publications offered by various Citi businesses worldwide.

Over 600 Citi Volunteers Reach 21,400 students on National Teach Children to Save Day

April 24th marked Citi’s 8th year of participating in National Teach Children to Save Day, an annual program sponsored by the American Bankers Association Education Foundation (ABAEF). Each year, Citi employees from all businesses go out into the community and join forces with their fellow bankers across the country, teaching young people the importance of saving for the future, how to prioritize needs and wants, budgeting and other important financial lessons.
This year, Citi mobilized 669 employee volunteers and reached 21, 483 students in 28 states. Due to these outstanding employee volunteer efforts, 2007 marks the single highest number of students reached since Citi began participating in the program in 2000.
To showcase these efforts, Citi hosted multiple special events across the country, including:
- New York City: John Stewart, Managing Director, Citibank North America, Natalie Abatamarco, Director, Global Community Programs, Citi, and Laura Fisher, ABAEF Director, taught students at P.S.16 in Queens the importance of savings. As part of Citi's commitment to the local community, Citi also donated 2,000 tickets for a Met's game to students, faculty, staff and parents of PS 16.
- Harlem, New York: Jan E. Boyer, U.S. Alternative Executive Director to the Inter-American Development Bank joined Citibank Financial Center Managers at the Thurgood Marshall Academy to teach 7th grade students the Financial ABCs.
- Washington, DC: Dara Duguay, Director, Citigroup Office of Financial Education, and Paul Atkins, Commissioner, U.S. Securities and Exchange Commission taught how to save and spend wisely to 7th and 8th grade students at Seed Public Charter School.
- Maryland: Alyson Klug, President, Citibank, Mid-Atlantic Region, and Ana Guevara, Deputy Assistant Secretary for Services, U.S. Department of Commerce, taught fifth and sixth grade students at Langley Park/McCormick Elementary School.
- Dallas, Texas: Citibank volunteers taught “Where Does Your Money Go?” to 7th and 8th grade students at W. E. Greiner Middle School. Students were introduced to the concept of budgeting as a way to mange their money and achieve their goals.
- Hundreds of CitiFinancial volunteers fanned out across the country to visit elementary, middle and high schools in Kentucky, Ohio, Pennsylvania, upstate New York, New Jersey, the Carolinas, Georgia and other states, teaching thousands of students the importance of managing money, such as how to calculate savings and investments the old fashioned way – by arithmetic with pencils instead of calculators.
- Guam: Over the course of four days, 47 Citi Guam employees taught the value of saving and other money management basics to over 750 3rd and 5th grade students.

U.S. Financial Education Training

To date, over 6,000 employees and non-profit partner staff have undergone training to teach financial education using the Citi Financial Education Curriculum.
Over 3,600 people have participated in the online training since the April 2005 launch of the site.

EMEA

Citi Supports Innovative “Financial Education for the Poor” Initiative in Pakistan

Citi supported an eight day Financial Education for the Poor (FEP) Train the Trainer program, in collaboration with international NGOs “Microfinance Opportunities” and “Freedom from Hunger” as part of its effort to promote financial literacy among potential microfinance customers in Pakistan. The FEP Program took place in Islamabad from April 3rd – 12th, and was attended by 24 participants representing a host of NGOs and MFIs from across the country.
Pakistan’s first female Central bank Governor Dr. Shamshad Akhtar inaugurated the program, while expressing her appreciation for the initiative and congratulating Citi on its committed efforts to develop the local microfinance sector.
Pakistan is the fifth country to be targeted for the Train the Trainer program where participants in the FEP workshops learn about financial education, develop skills in adult learning and facilitation, examine the FEP curriculum in detail, and acquire the necessary tools and skills to train other organizations in the FEP curriculum. Other country trainings have been held in Philippines and Uganda and regional trainings for Latin America and Asia were held in Peru and Indonesia.

Citi Foundation and Junior Achievement Launch Banks in Action – Citi Doubles Support of JA Financial Education Programs in Bulgaria

On April 26th, Citibank N.A. – Sofia Branch, and Junior Achievement (JA) Bulgaria, announced the launch of JA Banks in Action – a financial education program specially designed by Citi and JA and funded by the Citi Foundation. Banks in Action is a banking simulation program that helps teach high school students about the many facets of the banking industry.
In Bulgaria, Banks in Action will complement Banks Access, another financial literacy program sponsored by Citi Foundation and managed by JA Bulgaria. This marks a significant increase in Citi’s funding of local JA programs and confirms its commitment to support financial education of young people.
This continued support of the Citi Foundation will allow JA programs to reach more than 1,000 students in 32 schools throughout Bulgaria.

Citi Foundation and Injaz-Kuwait Launch Banks in Action

In April, the JA Banks in Action program made its official debut in Kuwait, and involved 19 Al Bayan Bilingual School (BBS) students learning how banks work, and managing their own banks, in this free eight-week program in Kuwait City.
Banks in Action in Kuwait was made possible by the recent $1 million Citi Foundation grant presented to JA Worldwide, which will expand this popular to 28 countries around the world and 21 cities in the U.S. Initially developed for implementation in Latin America, JA Banks in Action has been adapted for use in Kuwait, and provides high school students the opportunity to learn about the many facets of the banking industry.
JA Banks in Action currently reaches more than 31,000 students globally; the new grant will allow JA Worldwide to potentially reach 16,500 more students with the program including over 50 students in Kuwait by the end of 2007.

ASIA PACIFIC

Citbank and the Citi Foundation Bring "The Adventures of Agent Penny” to China

On April 25, Citibank, with funding from the Citi Foundation and in partnership with the NGO, The Learning Society, launched "The Adventures of Agent Penny, Featuring Will Power" comic book in China. Designed to promote financial literacy to school children aged 8-12 years old, it is the first comic book of its kind to be introduced in the country.
To bring the comic book to life, Citibank worked with a professional drama company and produced a play in Mandarin based on the stories in the comic book. The book and play made their debut at the Lyceum Theatre in front of an audience of over 600 people including representatives from Citibank, the Shanghai Municipal Education Commission and children from local primary schools.
To date more than 12,000 students have watched the plays and been given a copy of the Agent Penny comic book.
Citibank plans to roll out this Citi Foundation funded program to other major cities in China including Beijing, Tianjin, Guangzhou, Shenzhen and Chengdu. “The Adventures of Agent Penny, Featuring Will Power" program was first introduced in Singapore in 2005. In addition to China, the program is also run in Malaysia, Singapore, Taiwan and Hong Kong.

Next Generation of Elite Personal Finance Program 2007 reaches teenagers in Hong Kong and Shanghai

Citibank and ET (Economic Times) Business College launched the Next Generation of Elite Personal Finance Program 2007 on April 25. First introduced in Hong Kong in 2004, the popular initiative now involves teenagers from Shanghai. More than 2,000 students from both cities have participated in the program.
The four month program consists of three key events: "Survey on Financial Quotient (FQ) of Teenagers in Hong Kong and Shanghai"; "The Hong Kong and Shanghai Junior Financial Expert Blog Contest;” and "Seminar on the Next Generation of Elite Personal Finance Program."
The "Financial Quotient (FQ) of Teenagers in Hong Kong and Shanghai" online survey was conducted in late March to track trends and attitudes towards financial planning. Findings from the survey showed that teenagers in Hong Kong and Shanghai understand the importance of responsible financial management. Many students also stated that good financial habits should be learned and practiced at an early age and that investing for the future is very important.
The Blog competition is a new introduction and the winning team from Shanghai will be invited to Hong Kong for the grand final contest.

Citi and the Citi Foundation Launch “Operation Finance” in Hong Kong

“Operation Finance,” the latest edition of the “The Adventures of Agent Penny” financial education comic book series, was launched in Hong Kong on April 17 with an accompanying play produced by local professional theater group, Jumbo Kids. It will roll out to 100 primary schools this year.
To extend its reach and impact, Citibank Hong Kong is in discussion with the Education & Manpower Bureau and HKSAR to organize community plays outside of the school community.
The program, which is funded by the Citi Foundation, is part of Citi Hong Kong’s Financial Education Series that aims to promote financial literacy among youth of all ages. A specially designed website www.kidswealthfoundation.org also provides teachers and parents with interactive online resources to reinforce the financial concepts highlighted in the comic book and play.

Mexico

“Saber Cuenta para los niños/Knowledge Counts for Children” workshop

During the month of April, a Grupo Financiero Banamex volunteer group participated in a training to prepare them to deliver financial education to students. Beginning May 2nd, these volunteers will teach the “Saber Cuenta para los niños” workshop in the public elementary school José María Tapia Freyding.
The workshop will train 373 children from 1st to 6th grade. The workshop includes 6 sessions, 5 of which have been designed by Impulsa / Junior Achievement Mexico. The sixth session has been expanded by Banamex Financial Education, and focuses on the importance of saving, the value of money, taking advantage of resources, responsible consumption habits and investments for the future, as well as the important role that corporations play in the development of countries where they do business.

Televisa (AFORE) Workshops

In April, volunteers from the Grupo Financiero Banamex conducted two financial education workshops for 120 employees of Televisa, one of the most prominent communications companies focused on mass media in Mexico. The main focus of these workshops was the importance of planning for retirement and different ways to invest.

“Saber ahorrar Cuenta/Knowing how to save counts” workshop

On April 30th, to celebrate Children’s day, a workshop called “Saber ahorrar Cuenta/Knowing how to save counts” was held in the elementary school “Ciudad de los niños” in Monterrey N.L. This workshop was a great success thanks to the participation of 16 Corporate and Investment Banking volunteers and 80 elementary school children in 1st – 3rd grades. The workshop’s objective was centered on the idea of saving, and the importance of planning to achieve this objective.
April 30th was also “Banamex Day,” which was held at the Planetario Alfa in Monterrey. This event was targeted to the children of Corporate and Investment Banking employees, and served approximately 100 children ages 5 to 12. These children, along with their parents, enjoyed the opportunity to get to know the Museum, watch a film, tour the Financial Education Savings itinerant exhibit “The Abacus to Know even more than normal/Abaco para Saber más de la Cuenta”, and participate in the workshop “Saber ahorrar Cuenta/Know how to Save Counts”.

Latin America

Citibank Argentina's Corporate Social Responsibility Success Story, Innovative "Banks in Action" Program

From 1995 to 2006 and with an investment over one million dollars, the program "Bancos en Acción" (Banks in Action) organized by Citibank and supported by Junior Achievement, has involved 7,100 students from 200 schools all over Argentina. This year three students, Martin Alper, Federico Castillo, and Gerardo Lopizzo from Hipolito Vieytes High School in Buenos Aires, are the finalists of the tenth national edition of the contest.
JA Banks in Action is designed to teach high school students key concepts about how banks operate, basic banking services and careers in banking. Students learn about the challenge of successfully operating a bank in a competitive environment through an interactive computer simulation. Students also learn about the features of banking products and services and how they, as consumers, can take advantage of them. The program involves several classes taught by volunteers, and an inter-school competition.
The Banks in Action simulation, originally developed by Junior Achievement and Citi Argentina, encourages analysis and judgment skills, as students have to evaluate different scenarios in order to make decisions. Students visualize the consequences of their choices, the impact of competitors in a given virtual bank environment, and the changes in the banking industry as deposits go up or down. Additionally, the decision-making process causes students to learn how to work as a team, while stimulating their leadership skills. Junior Achievement considers all participants as winners, since they all learn from their choices during the process.

Citibank Venezuela Volunteers to Teach Students about Finances

1,900 students from various public high schools in Caracas, Valencia, and Maracaibo, participated in specialized workshops taught by Citibank volunteers in April. Students learned about personal finances, management of family budgets, and the operation of companies in those cities.
These workshops were part of Citibank’s social responsibility program, and are coordinated by the organization "Jóvenes Emprendedores de Venezuela" (Young Entrepreneurs of Venezuela). Citibank will offer a total of 50 courses.
This year, as Citi celebrates its 90th anniversary in Venezuela, Citibank is expecting to triple the participation of its volunteers in social responsibility programs.

Citibank Paraguay and the Citi Foundation Initiate Financial Education Program

Junior Achievement, educational program of Fundación Paraguaya, with the exclusive support of Citibank, recently began the program Management & Economics Simulation Exercise (MESE).
MESE offers high school students the possibility of operating their own virtual companies in an environment that simulates the real business world. During the process, participants are encouraged to use their strategic analysis and decision-making skills, understanding the impact that these have on the business at different moments. The participants get familiar with subjects related to the company and its surroundings, while learning about management, marketing, finance, accounting, and production skills.
Funded by a grant from the Citi Foundation, this is one of the three financial education programs developed in coordination with Junior Achievement in this country. The initiative is part of Citi's commitment to contribute US$200 million dollars to support financial education, over a period of ten years, throughout the 100 countries where Citi operates. In the 2006 edition, around 2,500 students participated in the program and the same number of participants is expected for this year.

Citi Ecuador Employees Volunteer to Teach Students Financial Education

Over the course of seven weeks in April, 36 Citi executives volunteered their time and talent to teach children about entrepreneurship utilizing games and various other activities. Students learned the meaning and importance of capital, natural and human resources. They also learned several formulas to form their own companies.
In the first stage of this project "To Be Successful these days, you have to start young," 958 students from fourth, fifth and sixth grades took part. The entire project will end in May, and will reach a total of 1,500 students.
This program was conducted in cooperation with Junior Achievement with support from the Citi Foundation.

Citibank Fosters Community Growth through Financial Education in Venezuela

As part of the new economic requirements and the development of small businesses in communities, Citibank has initiated an agreement to train businessmen and women through the Promoting Popular Development Civil Association [Asociación Civil Fomento del Desarrollo Popular] (Fudep). This program seeks to improve, through rotating credits, the economic condition of low-income sectors.
The fundamental objective of the project presented last Friday is to provide financial training and micro financing to 400 people from the low-income areas of Caracas and Carabobo State.