FOR IMMEDIATE RELEASE
Citigroup Inc. (NYSE: C)
December 12, 2007
Citi Foundation Funds Communities in Schools of NJ (CISNJ) for Financial Literacy
NEWARK, NJ – The Citi Foundation awarded $50,000 to Communities in Schools of NJ (CISNJ) today to launch a financial literacy program. The purpose of CISNJ is to champion the connection of needed community resources with schools to help young people successfully learn, stay in school, and prepare for life.
The grant was made at the Miller Street School in Newark, where Ms. Shakirah Miller is the principal. Students, parents, teachers, and community members gathered for the check presentation and to learn more about this exciting new program. William Allen, President and Chief Executive Officer of CISNJ was quoted saying, "This financial literacy program will raise the quality of life for our students and their families; it will produce better consumer habits and teach our young people to be more responsible with their finances. A financial literacy program will ensure that our students successfully prepare for life by providing them with the skills that will help them save for the future, stay out of debt, maintain a good credit record, pay their taxes and be more responsible and productive citizens."
CISNJ focuses on decreasing the student dropout rate by improving academic performance, enhancing cultural enrichment, increasing knowledge and job readiness and career opportunities, and by students participating in leadership development, community service and programs like the Citi Financial Literacy Program.
The Citi Financial Literacy Program will serve students in three school districts; Newark, Passaic and Plainfield. The program will serve about 1,000 students in grades 6-8 at one designated school per district.
Volunteers from Citi will provide training for teachers who will implement the program in the after-school program, as well as interested regular day teachers and CIS project directors.
Through the Citi Financial Literacy Program, CISNJ will engage and motivate students to take stock of their financial futures by actively participating in a program that will help develop their financial sense and skills as well as skills that will prepare them for a productive life.
"This grant represents another opportunity for Citi and our employees to help improve the lives of our neighbors and customers across the state of New Jersey while assisting with the educational needs of children in communities in which we live and work," said John Schachtel, Executive Vice President, CitiFinancial.
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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 brands include Citibank, CitiFinancial, Primerica, Smith Barney and Banamex. Additional information may be found at www.citigroup.com or www.citi.com.
Citi Foundation
The Citi Foundation supports organizations that help people improve their lives, businesses to grow, and communities to prosper around the world. The Citi 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 http://www.citigroupfoundation.com/.