NEW YORK, April 24, 2012 /PRNewswire/ -- Citi (NYSE: C) employees in Chicago and across the United States are volunteering in schools on National Teach Children to Save Day, a program to teach kids the financial facts of life.
National Teach Children to Save Day is a financial literacy program developed by the American Bankers Association Education Foundation to teach children, grades K – 12, the importance of saving for the future. The program, which occurs during Financial Literacy Month, also focuses on healthy money habits such as understanding needs versus wants and spending money wisely.
"Teach Children to Save is part of our commitment to responsible finance and giving back to the community of Chicago," said Jerome Byers, Central Region President of Consumer and Commercial Banking at Citi. "As a banker and a parent, I know that financial education at an early age is an important lesson for kids. Our employees across Chicago and the Central Region are committed to this important financial literacy program that teaches children the value of saving."
In Chicago, Byers visited a third grade class at Charles R. Henderson Elementary School with Chicago Treasurer Stephanie Neely. In total during Financial Literacy Month, Citi employees will visit 31 schools in the greater Chicago area teaching nearly 1,000 children.
"We know the consequences of bad financial decisions," said Treasurer Neely. "They include heavy debt, ruined credit, bankruptcy and foreclosure. We need to give our young people the tools they need to take control of their futures now."
Citi and Citi Community Development have been involved with Teach Children to Save for 13 years and during that time, Citi employees have taught nearly 90,000 children. The Teach Children to Save initiative reinforces Citi's commitment to improving the financial capability of consumers so that they can make informed financial decisions, and build and preserve assets that will help them achieve a secure financial future.
Citi supports financial education around the world. In 2011 alone, the Citi Foundation committed more than $25 million globally – nearly $13 million of which was invested in the United States – to support nonprofit partners that work with low-income individuals to build savings, pay down their debt, improve their credit and better manage their expenses.
"Citi employees around the country are in their community today and I'm proud of their commitment to financial literacy," said Cece Stewart, President, U.S. Consumer and Commercial Banking at Citi. "As bankers, talking and teaching about dollars and cents is what we do best. It is part of our commitment to financial inclusion and responsible finance."
Citi is also participating with the City of Chicago Treasurer's Office in the Adopt a School Program. Citi is sponsoring 10 schools this year in the Englewood and Woodlawn communities to bring financial education to low and moderate income third graders during an 8-week curriculum in collaboration with the nonprofit Money Savvy Generation.
For tips and ideas on financial education for children, please visit Citi's blog at new.citi.com.
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides 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, transaction services, and wealth management.
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