Citizens Financial Group's Bold Investment in Workforce Initiatives

Citizens Financial Group's New Commitment to Workforce Development

Citizens Financial Group has made an exciting announcement of a commitment to allocate $10 million towards workforce development programs over the next two years. This funding is designed to bolster nonprofit organizations focused on enhancing educational and career opportunities. It also aims to address the evolving demands of today's economy, showcasing the bank's dedication to supporting long-term economic growth.

A Focus on Community and People

Bruce Van Saun, Chairman & CEO of Citizens, emphasized the importance of workforce development not only for the bank but also for clients and the communities they serve. "This investment is pivotal for training and supporting individuals who are ready to learn and grow, ultimately contributing to the overall economic health of our communities," he stated.

Aligning with Sustainability and Impact Goals

The bank's initiative falls under its Sustainability & Impact strategy, where building a skilled future workforce remains a primary focus. Citizens finds itself in a unique position as a superregional bank, allowing it to effectively gather industry leaders and community stakeholders to address local workforce challenges. The aim is to ensure that the communities they support are prepared for future opportunities.

Innovative Partnerships for Enhanced Opportunities

Citizens is committed to forging innovative partnerships with various organizations including LISC, Year Up, Junior Achievement, Education Design Lab, Girls Who Code, and the Council for Economic Education. The collaborations extend to hundreds of local community organizations to provide accessible upskilling and reskilling services geared towards in-demand careers.

Recent Funding Successes

Recently, Citizens has made strides with notable partnerships that include a significant $1.6 million investment aimed at expanding the Community College Accelerator program with Education Design Lab across ten community colleges in major urban areas. Additionally, the bank granted $600,000 to LISC New York and Central Brooklyn Economic Development Corporation to launch the Brooklyn Youth Offshore Wind Training Program, preparing local youth for careers in the emerging offshore wind sector.

Addressing Teen Workforce Development Needs

In a recent survey conducted in collaboration with Junior Achievement, findings revealed the necessity for expanded upskilling programs targeted at teens. The survey showed that youths aged 13-18, while optimistic about their futures and the role of advancing technology, are looking for more support in acquiring essential skills. This highlights an essential gap that Citizens aims to fill with its investments.

About Citizens Financial Group

Citizens Financial Group, Inc. stands as one of the nation’s oldest financial institutions, boasting total assets of $219.9 billion as of mid-2024. Strategically headquartered in Providence, the bank offers an extensive range of retail and commercial banking services designed to meet the diverse needs of its clients, from individuals and small businesses to large corporations. To better serve its clients, Citizens emphasizes understanding their specific needs to provide tailored advice and solutions. The bank’s offerings are complemented by nearly 3,300 ATMs and a robust network of about 1,000 branches across 14 states and the District of Columbia.

Frequently Asked Questions

What is the purpose of Citizens' $10 million commitment?

The commitment aims to support workforce development programs that enhance education and career opportunities while addressing current economic demands.

Who will benefit from this initiative?

Nonprofit organizations focused on workforce development, local communities, and the individuals seeking to improve their educational and professional opportunities will benefit from this initiative.

What types of organizations is Citizens partnering with?

Citizens is partnering with a diverse range of organizations including national entities such as LISC, Year Up, and local community service organizations to provide effective training and development opportunities.

How does this initiative align with Citizens' overall mission?

This initiative supports Citizens' overarching Sustainability & Impact strategy by creating pathways to in-demand careers and investing in the economic vitality of local communities.

What are Citizens' capabilities in banking services?

Citizens Financial Group offers a comprehensive suite of retail and commercial banking services, including consumer banking, lending, treasury management, and risk management solutions.

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