Citizens Financial Group's Bold Commitment to Workforce Development
Citizens Financial Group has announced an impressive plan to invest $10 million in workforce development programs over the next two years. This funding will support nonprofit organizations that enhance educational and career opportunities, addressing the changing demands of today’s economy. This commitment highlights the bank's dedication to fostering long-term economic growth.
Prioritizing Community Investement
Bruce Van Saun, Chairman and CEO of Citizens, underscored the significance of workforce development not just for the bank, but also for their clients and the communities they support. He said, “This investment is crucial for training and empowering individuals eager to learn and evolve, ultimately enhancing the economic health of our neighborhoods.”
Aligning with Sustainability and Impact Goals
This initiative is part of the bank's broader Sustainability & Impact strategy, which prioritizes building a skilled workforce for the future. With its unique position as a superregional bank, Citizens is well-equipped to bring together industry leaders and community stakeholders to tackle local workforce issues. The goal is to make sure the communities they serve are ready for future job opportunities.
Creating Innovative Partnerships for Better Opportunities
Citizens is dedicated to forming creative partnerships with various organizations, including LISC, Year Up, Junior Achievement, Education Design Lab, Girls Who Code, and the Council for Economic Education. These collaborations extend to hundreds of local community organizations to provide accessible upskilling and reskilling services aimed at in-demand careers.
Recent Funding Successes
Recently, Citizens has successfully made significant strides with partnerships, including a notable $1.6 million investment to expand the Community College Accelerator program with Education Design Lab across ten community colleges located in major urban areas. Furthermore, the bank contributed $600,000 to LISC New York and the Central Brooklyn Economic Development Corporation to launch the Brooklyn Youth Offshore Wind Training Program, equipping local youth for careers in the emerging offshore wind industry.
Tackling Teen Workforce Development Needs
A recent survey conducted alongside Junior Achievement highlighted the need for expanded upskilling programs aimed at teenagers. The survey found that youths aged 13-18, while hopeful about their futures and the advancements in technology, are seeking more support in gaining essential skills. This highlights a crucial gap that Citizens aims to address with its funding.
About Citizens Financial Group
Citizens Financial Group, Inc. is one of the United States' oldest financial institutions, with total assets of $219.9 billion as of mid-2024. Based in Providence, the bank provides a wide array of retail and commercial banking services tailored to meet the various needs of clients ranging from individuals and small businesses to large corporations. Citizens is committed to understanding their clients' specific needs, offering personalized advice and solutions. Their services are further enhanced by nearly 3,300 ATMs and a strong network of about 1,000 branches across 14 states and the District of Columbia.
Frequently Asked Questions
What is the main goal of Citizens' $10 million commitment?
The commitment aims to enhance workforce development programs that improve educational and career opportunities while responding to current economic needs.
Who benefits from this initiative?
This initiative supports nonprofit organizations focused on workforce development, local communities, and individuals looking to advance their education and career prospects.
What organizations is Citizens partnering with?
Citizens is collaborating with a variety of organizations, including national names like LISC and Year Up, as well as local community service groups, to provide effective training and development resources.
How does this initiative fit into Citizens' broader mission?
This initiative aligns with Citizens' Sustainability & Impact strategy by creating pathways to in-demand careers and investing in the economic strength of local communities.
What banking services does Citizens provide?
Citizens Financial Group offers an extensive range of retail and commercial banking services, including consumer banking, lending, treasury management, and risk management solutions.
