BOSTON, March 14, 2016 /PRNewswire/ -- Today, HSBC announced a three-year $1.5 million commitment to City Year, an education-focused national service organization focused on helping students and schools succeed. Given the partnership's ongoing focus on promoting math education, HSBC and City Year are celebrating their joint efforts on Pi Day, the nation's foremost holiday devoted to math. Over the next three years, HSBC will provide support to implement an essential math assessment that will enable City Year to more effectively measure student improvement in math.
The HSBC-City Year collaboration is uniquely focused on supporting students in at-risk communities throughout the nation. Specifically, HSBC's partnership will enable more City Year AmeriCorps members to serve students full-time in schools and provide them with tutoring and in-class support. According to a recent third-party study by Policy Study Associates, schools with City Year were up to three times more likely to improve proficiency rates in math than schools that did not partner with City Year.
HSBC and City Year are announcing the partnership on Pi Day to celebrate the math focus of the partnership, but also to signify the sustainable impact the program has on students. While Pi (3.14) is the most widely known mathematical constant, City Year AmeriCorps members also represent a constant to the students they work with, serving as near-peer mentors and role models for students. To celebrate the partnership, HSBC employees will be volunteering across the country, including hosting a financial literacy training for City Year AmeriCorps members, and HSBC Bank ATMs will encourage the public to celebrate Pi Day.
HSBC's commitment will support the development of a standardized approach to monitoring student progress, with a specific focus in mathematics. The rigorous framework takes a methodical approach to identifying individualized academic needs, recommending instructional practices to address those needs, and evaluating student progress. These resources will significantly improve the support that City Year AmeriCorps members are able to provide to students.
"We are grateful to HSBC for supporting City Year's efforts to invest in programs that will help us accelerate and monitor student progress," said Michael Brown, City Year CEO and Co-Founder. "As a long-standing partner, I can attest to HSBC's deep commitment to educational programs for youth and its willingness to lead from the front as a model corporate citizen."
Since 2008, HSBC supported City Year's efforts locally in New York through participation in service days, mentor programs, professional leadership development for City Year AmeriCorps members and management of financial literacy curriculum for students. HSBC is expanding its support in New York, as well as to Chicago, Miami, Los Angeles and Washington, D.C. The expansion will continue over the next two years to enable more City Year AmeriCorps members to serve as a constant support and role model for students.
"HSBC is committed to supporting organizations like City Year that help transform our nation's high-need schools," stated Kelly W. Fisher Senior Vice President and U.S. Head of Corporate Sustainability at HSBC. "We have seen the City Year model help to build essential skills that our young people need to realize their ambitions and potential, and through this partnership we are investing in America's next generation of leaders."
This academic year, more than 3,000 City Year AmeriCorps members are serving full-time in nearly 300 schools in 27 cities, supporting 196,000 students.
For further information about the City Year- HSBC partnership, please visit http://www.cityyear.org/hsbc
About City Year
City Year is an education-focused national service organization founded in 1988 that is dedicated to helping students and schools succeed. It partners with public schools in 27 urban, high-poverty communities across the U.S. and through international affiliates in the U.K. and South Africa. Diverse teams of City Year AmeriCorps members provide high-impact student, classroom and school-wide support to help students stay in school and on track to graduate from high school, ready for college and career success. A recent third party study shows that schools that partner with City Year were 2-3 times more likely to realize Math and English gains. A proud member of the AmeriCorps national service network, City Year is made possible by support from the Corporation for National and Community Service, school district partnerships, and private philanthropy from corporations, foundations and individuals. Learn more at www.cityyear.org, City Year's Facebook page, and on Twitter.
About HSBC Bank USA, N.A.
HSBC Bank USA, National Association (HSBC Bank USA, N.A.), with total assets of US $198.3 billion as of 30 September 2015 (US GAAP), serves 2.4 million customers through retail banking and wealth management, commercial banking, private banking, asset management, and global banking and markets segments. It operates more than 230 bank branches throughout the United States. There are over 145 in New York as well as branches in: California; Connecticut; Delaware; Washington, D.C.; Florida; Maryland; New Jersey; Pennsylvania; Virginia; and Washington. HSBC Bank USA, N.A. is the principal subsidiary of HSBC USA Inc., an indirect, wholly-owned subsidiary of HSBC North America Holdings Inc. HSBC Bank USA, N.A. is a member of the FDIC. For more information visit: www.us.hsbc.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/hsbc-donates-15-million-to-city-year-to-enable-student-achievement-300235114.html
SOURCE City Year