Citi Financial Education Program

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Citi's Financial Education Program

Highlights January 2008

United States

Pennsylvania: From Purses to Portfolios launched in Philadelphia Region

Citibank provided a $25,000 sponsorship to Consumer Credit Counseling Services of the Greater Delaware Valley (CCCS) to replicate the From Purses to Portfolios program in the Philadelphia area. The kick-off event took place in Philadelphia on January 26th and was attended by over 400 women. The half day training including presentations by Citi's Dara Duguay ("How to Overcome Self-Defeating Money Moves") and Primerica's Alisha Adams ("Kiss Debt Goodbye").
The Purses kick-off is the start of a series of classes that will be provided by both Consumer Credit Counseling Service and Citibank branches in 2008. By attending classes, participating individuals will receive "credit" toward a "Take Charge Woman" certificate as well as a Purses newsletter and invitations to special events.

New York: Rainbow/ PUSH Wall Street Project Economic Summit

Citi was a diamond level sponsor of the 11th Annual Rainbow/PUSH Wall Street Project (WSP) Economic Summit that took place January 5-9, 2008 in NYC. Founded in 1997, the WSP was created to serve as a forum to provide minority businesses with access to major corporations. Citi was a founding partner of WSP and since 1997 has worked with Rainbow/PUSH on various initiatives.
Eric Eve, SVP/Director of Citi's Office of Global Community Relations, was a featured panelist in a session focused on the current mortgage foreclosure crisis. At the conclusion of the panel, representatives from Citi Community Relations met with several homeowners individually to provide information on available resources.
Members of Citi's Office of Financial Education distributed 125 copies of the "Citi Commonsense Money Guide for Real People" at the mortgage foreclosure session and answered questions from attendees.

New York: Museum of American Finance Inaugural Gala

On January 7th, Citi sponsored the museum's gala opening at the newly opened branch of the Smithsonian in lower Manhattan. The new location is the former headquarters of the Bank of New York. The museum is celebrating its 20th year with a move that dramatically increases its opportunity to reach out to the broader public and help them become better informed about the world of finance.
Citi loaned the Museum of American Finance several historic items for display in the museum. Citi has also provided a video on the history of American finance which plays continuously in the museum's theater. Plans are in process to incorporate Citi's financial education materials for young people into the museum's program as well as the bookstore.

U.S. Financial Education Training

To date, over 7,400 employees and non-profit partner staff have undergone training to teach financial education using Citi's Financial Education Curriculum.
Over 4,050 people have participated in the online training since the April 2005 website launch.

Europe, Middle East and Africa

Kuwait: Citibank Introduces Interactive Derivatives Workshop

Following the successful Bourse Game seminars held over the past two years, Citibank Kuwait recently conducted the Derivative Workshop which presented various hedging strategies in the face of financial risk scenarios which threaten today's corporate world.
Held for the first time by Citibank Kuwait, the two-day seminar was conducted by Mr. Leon Armstrong, head of FX structuring for the region. It featured 20 of Kuwait's top-tier treasury, finance and investment officers from corporate and government entities in addition to Citi Kuwait relationship managers and treasury employees.
Participants formed virtual companies, each determining the best hedging strategy in the face of a specific financial risk. Each "company" held a variety of foreign exchange, interest rate and commodities exposures, and opted for "positions" fitting pre-determined risk appetite. A competition for best hedging strategy concluded the two-day seminar.

United Kingdom: BRAC UK and Citi Launch Report on Financial Education Needs

A report entitled "Assessment of the Financial Education Needs and Opportunities of British-Bangladeshi Women and Young People in Tower Hamlets" was presented at an event at Citigroup Centre, London, on January 21st.
This report produced by BRAC UK and financed by the Citi Foundation found that British-Bangladeshi women and young people living in Tower Hamlets lack educational and employment opportunities. Based on the results of the survey, the Citi Foundation is launching a grant designed to increase the opportunities for this community.
On the back of the findings, the Citi Foundation is funding a program, designed by BRAC, to reach women and young people in Tower Hamlets. The program which will be delivered in the next 12 months, involves a series of financial education workshops and one-to-one sessions with young people and women to help them achieve their financial goals. This grant will reach 1,500 individuals, with another 3,000 benefiting indirectly. This is the latest instance in a longstanding history of collaboration between Citi and BRAC on such important initiatives.

Asia Pacific

China: Citi Supports Financial Education for the Poor

On January 16th, Citi China launched a new 'Training of Trainers' (TOT) program in Beijing, designed to enhance the economic well-being of low-income households by teaching them the knowledge, skills and attitudes required to adopt good money management practices and make better financial choices. The training is part of the Global Financial Education Program, which is funded by the Citi Foundation and led by Microfinance Opportunities and Freedom from Hunger.
The Beijing workshop was run for 25 people from 13 financial organizations across China including microfinance institutions, commercial banks and the central bank. The 8-day workshop consisted of five modules -- budgeting, savings, debt management, bank services, and financial negotiations. After the workshop, trainees will be able to disseminate their new-found knowledge and skills to a wider audience among poor communities by organizing either TOT workshops or direct training sessions.
Since its completion and publication in 2006, the core curriculum for the Global Financial Education Program had been disseminated in more than 25 developing countries through regional and country workshops. It has also been translated into 7 languages and helped create a global network of financial educators.

Hong Kong: Citi Launches New Banking Course with the Chinese University

Citibank Hong Kong and The Chinese University of Hong Kong (CUHK) held the inauguration ceremony for the "Citibank University Banking Course 2007-2008" on 7 January. The course, now entering its fourth year, is part of the Citi Financial Education Series and is funded by the Citi Foundation.
The Citibank University Banking Course is a three-month intensive program, consisting of more than 30 hours of lectures from senior Citibankers and a visit to a Citibank branch office, covering a comprehensive range of topics related to the financial services industry. The program is designed to provide Hong Kong's future leaders with insights into modern banking operations and practices, giving them a valuable opportunity to explore the real world of banking through both structured classroom lectures and interactive discussions with seasoned bankers from Citibank.
Run at CUHK for the first time in 2008, the course was offered to select second year students studying in the Faculty of Business Administration. More than 140 student applications were received and after a rigorous selection process, which included a finance-related written test and group interview, 50 students were admitted to the course.

Hong Kong: Citi's Youth Investment Education Program Receives Overwhelming Response

The Citi Youth Investment Education Program (CYIEP) 2008 was launched on January 12th. Sponsored by the Citi Foundation, the CYIEP was jointly organized by Citi, the School Economic Times, and the Learning Society with support from Hong Kong's Education Bureau.
This program will help Hong Kong students in grades F.4 - F.7 (aged 16-19) to improve their understanding of investment concepts and will test their investment skills. The program has been well received with applications from more than 2,000 students from 152 secondary schools, representing an 18% increase in participation from last year.
The 2008 CYIEP includes 3 levels of activity run over 5 months. As part of Stage 1, students were introduced to investment concepts and good practices at a seminar on January 12th. Guest speakers included Joe Lo, Senior Economist, Citi Hong Kong. This seminar was followed by three workshops in January where students learned about investment research methods and analytical skills through investment portfolio case studies.
In Stage 2, students will be given the opportunity to put their learning into practice through an online trading game. They will then be given stock trading accounts to trade online from February 4 to April 25 and will be required to explain their trading strategy. Stage 3 will take place in May in the form of a Financial Quotient (FQ) event which will combine a workshop and awards ceremony. At this event, financial management experts will evaluate the performance of the students during the program and also share their investment experiences. The top performing teams in terms of analysis and profit will be awarded certificates and prizes

Malaysia: Citibank Heralds Chinese New Year with "Mission Ang Pow"

On January 28th, Citibank Malaysia celebrated the start of the Year of the Rat with "Mission Ang Pow," a light-hearted skit aimed at encouraging children and their parents to save their ang pow money during the Chinese New Year celebrations. Ang Pow means 'red packet' or 'red envelope' and is a monetary gift given in Chinese society during holidays such as Chinese New Year or special occasions such as weddings.
"Mission Ang Pow" is one of Citibank Malaysia's many activities lined up as part of its open-house celebrations, held recently at its branch at Menara Citibank in Kuala Lumpur. Themed "Save a little, Spend a little", the "Mission Ang Pow" skit was performed by Agent Penny and Will Power, Citibank's popular mascots used to promote financial education among children aged 10 to 12, and 20 drama students specializing in Children's Theatre from Universiti Teknologi MARA (MARA Technological University).

Philippines: Citi Fin-Q Survey Reveals Filipinos' Concerns about their Financial Future

One of the key findings from Citibank Philippines' Citi Financial Quotient (Fin-Q) survey released on January 18th was that 7 out of 10 Filipinos were concerned about their financial futures and said their savings would not be enough to meet retirement needs.
"Based on the Fin-Q results, only one of out 10 Filipinos is saving for retirement. The rest have some savings but don't know if it will be enough, while others have no idea at all of how much they need or have not started planning," said Agustin Davalos, Citibank Retail Bank Director.
Mark Jones, Country Business Manager said the survey showed the urgent need for financial education in the country and said Citibank Philippines is committed to playing a role in developing financial literacy programs for the general public.
Conducted by CxC Consulting, this survey was designed to measure the Financial Quotient, or financial intelligence of consumers. It included 11 questions on financial planning, retirement plans and lifestyle goals. The survey polled 400 respondents and was also conducted in Australia, China, Hong Kong, India, Indonesia, Korea, Malaysia, Singapore, Taiwan and Thailand.

Taiwan: Citi Designates 2008 as the "Year of Financial Health"

To launch the "Year of Financial Health", Citi Taiwan has conducted the first financial health survey on Taiwanese people's financial beliefs, financial discipline, assets and liabilities, and financial planning for emergencies and retirement. The results released on January 29th showed that 42% of people did not have life insurance; 69% of the people have life insurance payouts that are less than three times their annual income; and 40% of the people did not prepare their retirement funds.
The financial health survey was conducted by National Chengchi University's Marketing Survey Research Center with the support of Citi Taiwan. The center interviewed 1,110 people, over 25 years of age, across 25 cities. Going forwards, Citi Taiwan will study the reasons affecting people's financial situations, track the public's financial health and provide recommendations. Citi Taiwan will also further promote financial education in remote areas, to disadvantaged groups and between parents and kids to help them maintain financial health.

Indonesia: Agent Penny Takes Center Stage at Financial Education Campaign Launch

On January 27, in partnership with Bank Indonesia (Indonesia's central bank), Citi Indonesia helped launch an education campaign to raise awareness and understanding about the benefits of better personal financial management.
2008 has been named the "Public Education Year for Banking" in Indonesia. Officially launched by the First Lady, Mrs. Ani Yudhoyono, the event included signing a Memorandum of Understanding with 16 local and international banks. As part of the launch event, the "Adventures of Agent Penny" play was presented and Agent Penny comic books distributed to the audience. The Agent Penny comic book and play, funded by the Citi Foundation, were cited as a successful, creative and fun way to educate kids on the value of money and the basics of budgeting, saving and spending.
During 2008, Bank Indonesia will be running a series of initiatives for important stakeholder groups including the media, government agencies, consumer groups, related NGOs and opinion leaders under the campaign title "Ayo ke Bank" (Let's go to the bank). At the same time, Citi Indonesia will educate the public about personal financial management through advertising, radio talk shows and other channels. Additionally, since Indonesians spend 80% of their free time watching television at home, the Citi Foundation has funded a TV program called Your Money in attempts to reach a broader audience.

Japan

Kwansei Gakuin University

After a break of three years, Citi Japan recommenced the lecture series at Kwansei University in West Japan on September 26th 2007. This series relies on Citi employee volunteers to conduct the lectures.
By January 2008 all of the lectures were completed with the last lecture being given by Citi's Midori Kaneko (CAO). In total, about 170 students were registered for this series and the students who completed the three exercises received school credits.
The program is designed to provide students with real-world education about the retail banking business, corporate banking business, risk management and compliance.

Student City

Since May 2004, the Student City program has been designed to give children a one-day hands-on learning in the virtual "city" for elementary school students (around age 11). After preparatory study in the classroom, the children take turns playing the roles of worker and consumer in the "city." The program aims to give students an understanding of the structure of society and their part in it, and in doing so, instill in them a sense of civic responsibility.
In January Citi volunteers were sent as volunteers twice to participate in this activity. Citi volunteer visits average two times monthly and reach about 100 students on each visit.

MESE (Management & Economics Simulation Exercise)

MESE is a computer-simulated program, in which teams of students make production and marketing decisions for an imaginary product. The program funded by Citi and the Citi Foundation was developed by Junior Achievement and is conducted by JA Japan.
A preliminary competition round was held with about 300 teams (600 students). After the first round, 64 teams advanced to the 2nd round. For the final game in March, 8 teams will be selected and advance to the final competition.

Mexico

Community Development Center Trainings

During the month of January, training courses were given to two groups of community promoters from the Community Development Center, consisting of 48 men and women who will replicate the "Knowing how to decide counts for the welfare of my family" Course-Workshop in different communities. The course-workshop is designed for groups of parents interested in improving the management of their personal, family and financial resources.
With this first generation, cascade training work commences, the aim of which is to reach different poor communities in order to give them more and better tools that allow them to actively participate in the building of their wellbeing and quality of life.

"The Value of Companies" Course

This month, the 2nd group of trainers was given the "Value of companies in society" course-workshop, which is held thanks to the alliance between the Bimbo Group and Banamex Financial Education, with the aim of replicating the course-workshop in their companies.

"Knowing Counts" Theater Play

On January 18th, the theater play Knowing Counts, which seeks to disseminate greater knowledge about finances, as well as to promote financial education messages for personal and family wellbeing, was presented with great success on two occasions in the facilities of Christel House Mexico.
The play was aimed at the elementary school girls and boys, parents and administrative staff of the Christel House. In total, 343 children and youths and 305 adults, parents of the children of this institution, attended these two presentations.