Citizens Bank of Massachusetts named Innovator of the Year at Corporate Philanthropy Summit

Citizens’ recognized for its Champions in Action and Community Gems programs

BOSTON       (September 7, 2006) - Citizens Bank of Massachusetts was named Innovator of the Year in the large company category at the Boston Business Journal’s Corporate Philanthropy Summit 2006. Citizens was recognized for its Champions in Action and Community Gems programs at the summit, which was sponsored by The Boston Foundation, The Greater Boston Chamber of Commerce and The United Way of Massachusetts Bay.

Launched in the fall of 2002, the Champions in Action program recognizes non-profit organizations for their contributions to Massachusetts communities. A new Champion is selected each quarter among a range of social service areas. Each Champion receives a $25,000 unrestricted grant, PR support, media coverage from Citizens’ partner New England Cable News and volunteer support from Citizens and NECN colleagues.

Citizens Bank created Community Gems in December 2004 as a collaborative fundraising event to support six non-profit organizations in Boston. Citizens worked with the City of Boston and more than a dozen community and corporate partners to develop this strategic fundraising model that helps smaller organizations raise money to support their individual programs. The first Gems event raised $160,800 and the second celebration in 2005 raised $250,000. The third annual gala will take place on December 2, 2006.

“Citizens Bank stands out as one of the companies making a real difference in the lives of people in Massachusetts and that are leveraging the power of partnerships with non-profits to advance the social good,” said Michael Olivieri, Publisher of the Boston Business Journal.

The summit also announced the top 46 corporate charitable contributors. Citizens was listed number six for contributing more than $6.1 million in cash contributions in 2005 to Massachusetts charities and non-profit organizations. 

“We are honored to be named Innovator of the Year for two of our outstanding initiatives,” said Robert E. Smyth, Chairman, President and CEO of Citizens Bank of Massachusetts. “The Champions in Action and Community Gems programs are examples of how the private and non-profit sector can work together to raise funds and awareness to support charitable endeavors. We take pride in the fact that we are able to partner with organizations across the state that have a positive impact on the people and neighborhoods they serve.”

Red Sox CEO Larry Lucchino delivered the keynote address, reflecting on his own experiences with corporate philanthropy through the Red Sox Foundation and lessons learned in terms of how to structure a program that meets both civic and business goals. More than 650 business leaders and non-profit executives attended the September 6 event.

About Citizens Bank of Massachusetts

Citizens Bank of Massachusetts is a $37 billion bank with 264 branches and 625 ATMs stretching from greater Boston to Cape Cod and the Berkshires. It is headquartered at 28 State Street in Boston. It is a subsidiary of Citizens Financial Group, Inc., a $164 billion commercial bank holding company headquartered in Providence, R.I. Citizens has more than 1,600 branches, approximately 3,200 ATMs and 26,000 employees in a 13-state retail branch network and has non-branch retail and commercial offices in about 40 states. Citizens is the eighth-largest commercial banking company in the United States ranked by deposits and ninth in assets as of March 31, 2006. Citizens is owned by RBS (The Royal Bank of Scotland Group plc).

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