The bank will provide $1.5 million to more than 150 nonprofits
PROVIDENCE, RI – A dozen nonprofit organizations in Rhode Island will receive much needed funds to help those they serve make informed financial decisions through a set of grants announced by Citizens today. Under the bank’s Citizens Helping Citizens Manage Money program, these nonprofits will receive a total of more than $150,000 to support work in this critical area across the state.
As part of the Citizens Helping Citizens Manage Money program, the bank this year will provide $1.5 million in contributions to more than 105 nonprofits in Massachusetts, Rhode Island, New Hampshire, Vermont, Connecticut, Ohio, Michigan, Pennsylvania, New Jersey, Delaware, and New York. The initiative helps the community by supporting programs that give people the confidence and tools they need to budget, save, invest, be financially healthy and inspire them to pursue their goals.
“We believe that having strong financial knowledge is essential in achieving your goals and reaching financial security,” said Barbara Cottam, Rhode Island Market Executive. “Through Citizens Helping Citizens Manage Money we provide members of our communities with the knowledge, confidence and resources they need to make smart financial decisions that will put them on a path forward.”
This year’s funding recipients in Rhode Island include:
- Amos House – for its Financial Opportunity Center, which provides financial education and coaching to 400 people.
- Center for Women and Enterprise – for the financial capability training for women entrepreneurs and small businesses.
- Connecting for Children and Families – for its financial empowerment programs in Northern Rhode Island.
- Crossroads Rhode Island –for its programs supporting financial literacy for homeless individuals and families.
- Genesis Center – for its Bridge to Career Opportunities which provides financial coaching to 150 low-income adults.
- Institute for Labor Studies & Research – for its Workplace Adult Education Project serving 250 individuals.
- Junior Achievement –for its financial empowerment programs for youth.
- Pawtucket Central Falls Development –for its Financial Literacy Program as part of their Homebuyer Education Program serving 150 individuals each year.
- Progreso Latino, Inc. –for its Financial Progress Center.
- United Way of Rhode Island –for VITA and earned income program.
- Woonsocket Neighborhood Development Corp – for its NWBRV HomeOwnership Center which provides financial literacy and homeownership education in Northern Rhode Island.
- International Tennis Hall of Fame – for its Newport TeamFAME program which promotes health, wellness and academic success including financial literacy.
As recent research suggests, many Americans are worried about achieving their economic and financial goals. Annually, Citizens and Junior Achievement USA release a national survey to identify the financial challenges facing teens. This years’ results showed that COVID-19 has significantly impacted how teens are thinking about their financial futures, prompting 25 percent of them to delay their college plans in the face of reduced financial support from parents and guardians due to the pandemic. The findings, which indicate broad-based concern among teens regarding how they will pay for higher education, highlight an increased need for financial literacy educational resources to assist them in making financial decisions.
For additional information on Citizens Helping Citizens Manage Money and free education resources, visit Citizens’ website.