Printer Friendly Page
Citigroup Inc. (NYSE: C)
April 24, 2007
Citi Volunteers Teach New York Students How to Save, Spend Wisely
Addresses Critical Need for Financial Education
New York, NY – “Wants versus needs” was the topic of discussion today as several hundred Citi volunteers taught financial education to more than 11,000 students in 122 cities across the country. Students received lessons on saving from Citi employee volunteers in honor of the 11th Annual National Teach Children to Save Day, a financial education event sponsored by the American Bankers Association Education Foundation.
“Children who learn about money early and often are more likely to make smart financial decisions later in life,” said Dara Duguay, director of Citigroup’s Office of Financial Education. “In today's complex financial world, personal finance instruction is as important as reading, writing and arithmetic. At Citi, we are committed to increasing financial literacy in the communities where we live and work.”
Citi volunteers gave presentations on saving, how interest makes money grow, and how to budget and prioritize needs and wants. Nearly two million students have received savings lessons from more than 30,000 bankers since the program began in 1997. Today’s events included:
- 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 tonight’s 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.
- Greater Washington Jumpstart Coalition: Citi Volunteers from Citibank, Office of Financial Education and Smith Barney volunteered in 16 DC public High Schools, teaching budgeting, ID Theft and Credit to nearly 2,000 students.
-
“Bankers have a long history of community service, and they are uniquely qualified to fill the need for financial education,” said Laura Fisher, ABAEF director. “Financial education is more memorable if it’s delivered by a banker, just as fire safety makes more sense coming from a fire fighter. Citi brings the lessons to life and leaves children with a lasting impression that saving matters.”
Research shows that the lack of financial education can have serious long-term effects. A recent study from the Consumer Federation of America showed that only 40 percent of adult Americans have created separate emergency savings funds.
National Teach Children to Save Day is sponsored by the non-profit American Bankers Association Education Foundation, which works to improve personal money management skills throughout the United States.
As part of its continued commitment to Financial Education, Citi recently introduced its first-ever personal finance guide, The Citi Commonsense Money Guide for Real People, which shows readers how to achieve financial health by tackling the various aspects of money management through a series of simple yet effective steps. Citi will donate all profits from book sales to not-for-profit organizations and programs that support and teach financial education.
In just three years, Citi and the Citigroup Foundation have invested $85 million of its ten-year $200 million commitment to Financial Education programs in 72 countries.
# # #
Citi
Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citi's major brand names include Citibank, CitiFinancial, Primerica, Citi Smith Barney and Banamex. Additional information may be found at www.citigroup.com or www.citi.com.