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Citizens Financial Group launches new program to serve home borrowing needs of Citizens Bank and Charter One customers

Providence, R.I. (March 14, 2011) -  Citizens Financial Group, Inc. (CFG) today announced a new program aimed at making it the bank-of-choice among Citizens Bank and Charter One customers for all their home borrowing needs. The Citizens for Homes™ and Charter for Homes™ programs emphasize the company’s long-standing commitment to serving as trusted advisors for customers and providing them sensible lending solutions that meet their individual goals.

“For many individuals and families, the goal of homeownership is as important as ever,” said Ellen Alemany, Chairman and CEO of CFG and RBS Americas. “Through the Citizens for Homes and Charter for Homes programs, we want people with home borrowing needs to know they have a partner in us. Our loan officers will provide the guidance and support customers need to obtain the loan that is right for them and that they can comfortably afford.

“As trusted advisors, we provide customers a world-class home loan experience that includes clear terms, sound advice and no surprises. For customers who aren’t ready to purchase homes, we offer a savings program to prepare them for successful home ownership.”

CFG’s Citizens for Homes and Charter for Homes programs, which will be brought to life at bank branches and a multimedia advertising campaign, are an extension of the bank’s Good Banking is Good Citizenship brand platform.

The tenets that guide CFG’s home lending policy and are the basis of the Citizens for Homes and Charter for Homes programs are:

  • Guidance – We’re for personally helping customers get the right loan to fit their budget. When the loan process begins, we’re there beside them until the end, to answer all questions, big and small.
  • Clear Terms – We’re for being transparent and for making sure the terms are clear so there are no surprises.
  • Sensible Lending – We’re for helping people decide if homeownership is right for them. While it’s a great time to buy a home, it’s not right for everyone. While home equity loans can be used to pay for such things as home improvement, debt consolidation and education, we’re for helping customers understand if home equity loans are the right fit.
  • Manageable Debt – We’re for offering mortgages and home equity loans that our customers can comfortably afford, so they can be successful homeowners and pay for the things that are important to them.

CFG’s strength and stability and its focus on doing what’s right for the customer has enabled it to become the No. 1 home equity lender in the markets it serves and a Top 20 mortgage lender in the nation and growing.
Due to its prudent approach to lending, CFG has always maintained one of the lowest default and foreclosure rates in the industry. These rates, which are well-below the national average for banks, serve as a testament to CFG’s commitment to serve as trusted advisors and responsible lenders.

“We are committed to providing our customers an exceptional home loan experience,” said Brad Conner, CFG’s Vice Chairman of Consumer Finance. “We look forward to serving the home borrowing needs of our customers in a thoughtful and responsible way.”

As part of its commitment to prepare customers for successful home ownership, CFG enables customers to receive $1,000 towards their new home when they save a minimum of $100 per month for 36 months with HomeBuyer Savings.  At the end of three years, customers can use their accumulated savings towards a down payment with the additional $1,000 applied against their closing costs with a Citizens Bank or Charter One mortgage.

About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is a $130 billion commercial bank holding company. It is headquartered in Providence, R.I., and, through its subsidiaries, has more than 1,500 branches, approximately 3,800 ATMs and approximately 21,400 employees. Its two bank subsidiaries are RBS Citizens, N.A. and Citizens Bank of Pennsylvania. They operate a 12-state branch network under the Citizens Bank brand in Connecticut, Delaware, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont, and the Charter One brand in Illinois, Michigan and Ohio. CFG has non-branch retail and commercial offices in about 40 states. CFG is owned by RBS (The Royal Bank of Scotland Group plc).