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Citizens Bank Foundation donates more than $170,000 to financial literacy programs in Massachusetts

Programs teach individuals how to manage their money and budget for the future

BOSTON          (April 20, 2009) - In recognition of April’s Financial Literacy month, the Citizens Bank Foundation today announced it has provided more than $170,000 in grants to local organizations supporting financial literacy programs during the first quarter of 2009.

Nonprofit recipients and programs include:
• Greater Boston Interfaith Organization – Moving from Debt to Assets
• BayPath Elder Services – Money Management for Seniors
• Junior Achievement of Central Massachusetts – Financial Literacy for the Future
• Allston Brighton Community Development Corporation – Homebuyer Classes
• Girls Incorporated of Worcester – Economic Literacy
• Valley Community Development Corporation – Homeownership Assistance Center

National Financial Literacy Month is designed to bring awareness to the importance of developing and maintaining healthy financial habits. Financial education provides individuals with the understanding and knowledge to become financially independent by giving people a basic understanding of saving and investing, budgeting, credit and debt.

“As a responsible financial institution committed to its customers and the communities in which it serves, we believe it is important to support financial literacy programs that educate people with the information needed to make sound financial decisions,” said Robert E. Smyth, President, Citizens Bank, Massachusetts. “Knowledge is power. Being armed with even the most basic banking skills gives individuals the power to take control and successfully manage their personal finances.”

In addition, Citizens has posted helpful financial tips on its Web site to educate students and parents about early awareness, financial literacy and student loan default prevention. Information can be obtained at www.citizensbank.com/tipsforstudents.

About the Citizens Bank Foundation

Citizens Bank Foundation is a charitable contributions vehicle of Citizens Bank. The foundation’s support is focused on housing, community development and basic human needs.