CIT Commits $375,000 To Jumpstart Templo Calvario CDC's New Southern California Financial Empowerment Center

Investment will support financial education and resources for low-income and underserved families

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Feb 27, 2018, 01:00 ET

PASADENA, Calif., Feb. 27, 2018 /PRNewswire/ -- CIT Group Inc., (NYSE: CIT) the parent company of OneWest Bank, today announced a three-year $375,000 grant in support of Templo Calvario Community Development Corporation's (TCCDC) new Family Financial Empowerment Center. The Center will provide Southern California families financial education and resources focusing on homeownership, small business development, and financial literacy. CIT's commitment is TCCDC's largest contribution for the new initiative to-date.

"CIT is committed to promoting financial stability for local Southern California residents," said Steve Solk, president of Consumer Banking for CIT. "We are pleased to support Templo Calvario's efforts to empower the community by encouraging financial education and wealth generation for local families."

TCCDC's new financial empowerment center is an extension of its efforts to meet the increasing and changing needs of a community characterized by unique challenges. The financial empowerment center will focus on providing comprehensive services that promote wealth building and financial stability, primarily among low- income families in Santa Ana, CA.

"CIT's commitment enables us to formally launch the new financial empowerment center," said Rev. Lee de León, president and CEO of Templo Calvario. "We now have the critical funding needed to hire staff, mobilize training and ultimately improve the overall finance capability of local Southern California residents."

In preparation for this new initiative, Templo Calvario recently conducted a community survey which identified homeownership, small business development and financial literacy as the most critical areas for support.

About CIT
Founded in 1908, CIT (NYSE: CIT) is a financial holding company with approximately $50 billion in assets as of Dec. 31, 2017. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has approximately $30 billion of deposits and more than $40 billion of assets. CIT provides financing, leasing, and advisory services principally to middle-market companies and small businesses across a wide variety of industries. It also offers products and services to consumers through its Internet bank franchise and a network of retail branches in Southern California, operating as OneWest Bank, a division of CIT Bank, N.A. For more information, visit cit.com.

About Templo Calvario Community Development Corporation
Templo Calvario Community Development Corporation (TCCDC) is a nonprofit in Santa Ana, CA that focuses on empowering and serving families in the areas of education, financial empowerment, parenting training, and the mobilization of the faith community. Each area of service operates different programs in the City of Santa Ana that primarily serve low-income families and individuals. The mission of Templo Calvario CDC is to work with key communities and stakeholders to unite, build, and transform communities. For more information, visit tccdc.org.

CIT MEDIA RELATIONS:
Olivia Weiss
212-771-9657
[email protected]

TEMPLO CALVARIO CDC MEDIA RELATIONS:
Amy Deras
714-543-3711 Ext. 264
[email protected]

SOURCE CIT Group Inc.