FOR IMMEDIATE RELEASE
Citigroup Inc. (NYSE: C)
June 04, 2007
Citi & Tel Aviv University Launch a Financial Education Project in the Community
Citi Foundation and Tel Aviv University announce the launch of the "Calcalah Acheret" project, which is designed to provide personal financial education in the community.
The project, in collaboration with the social service departments of the Tel Aviv Municipality and the ORT Singalovsky College, operates on two levels: workshops on financial education and budget planning for groups professionally trained in ORT schools prior to entering the workforce; and individual financial education in the community, focusing mainly on providing financial management tools for those who are in economic distress and those utilizing social services. At the same time, the project helps to develop leadership skills among students and create awareness of the importance of contributing to the community.
The project trains TAU students majoring in economics, business and public policy, to provide financial counseling in underprivileged communities. The students will be integrated into local social welfare frameworks and into other special programs run by non-governmental agencies in the Greater Tel Aviv area, and will provide individual and group financial counseling.
Citi is supporting this important initiative by contributing funds as well as by having employees participate in the educational effort, and providing advice and guidance to the students. Ralph Shaaya, CEO Citi Israel and a member of the project's steering committee: "Citi Israel is committed to community programs that encourage our employees to use their knowledge, experience and skills to help educate the underprivileged segment of the population to better manage their finances. We are proud of our collaboration with Tel Aviv University and the student population. We hope that during the coming years other companies within the business community will join us to expand and enhance this initiative," Shaaya said.
Professor Yoav Ariel, the dean of students at Tel Aviv University notes the significance of the students' participation in this project: "Many of our students will almost certainly become leaders in the future society of the State of Israel. As a potential leadership group, the students must be made aware of the depth, complexity and challenge that constitute the concept of leadership, and they must train themselves from a personal and professional perspective to serve as a source of inspiration for a just society, economically and socially. Our collaboration with Citi and with the community is very exciting for us and we are prepared to do all we can to advance our shared social objectives."
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Project “Calcala Acheret”
“Calcala Acheret” was promoted by Nir Levy, an MA Public Policy student in TAU. This initiative was adopted by Citi and The Ruth and Allen Ziegler Student Services Division of the Dean of Students, through the TAU Friends Association and Division of External Affairs and Resource Development. The project began in February 2007, in collaboration with the social service departments of the Tel Aviv Municipality and the ORT Singalovsky College.
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.
Citigroup Foundation
The Citigroup Foundation supports organizations that help people improve their lives, businesses to grow, and communities to prosper around the world. The Citigroup Foundation focuses its grants primarily in three areas: financial education, educating the next generation, and building communities and entrepreneurs. Additional information can be found at www.citigroupfoundation.com
Citi‘s Office of Financial Education
In 2004, Citi and the Citigroup Foundation announced a commitment of $200 million over ten years for financial education around the world, with the goal of enhancing the public's ability to utilize its financial resources and improve its quality of life. To date, Citi and its philanthropic foundation have invested over $53 million in financial education programs in sixty eight countries around the world.