NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Monday, April 27, 2015

Citi will once again help thousands of young students across the country receive basic financial education as the bank supports American Bankers Association’s (ABA) annual Teach Children to Save campaign for the 15thconsecutive year. The national program, designed to encourage local youth to develop positive financial habits early in life, marks April 24th as Teach Children to Save Day to raise awareness of the importance of teaching children about saving. Beginning in March and continuing for months after Teach Children to Save Day, hundreds of Citi volunteers will teach thousands of children in grades K-12 in classrooms and after-school programs in financial education events in major cities across the country.

“Promoting financial capability is important at Citi, and our work to propel the Teach Children to Save campaign continues to be a highly impactful way for us to do it,” said Citi’s CEO of North America William Mills. “Since 2001, Citi volunteers have spent time teaching more than 100,000 children across the country the basics of money and saving, and we are excited to be reaching thousands of new students again this year.”

“Citi is proud to be a part of the Teach Children to Save campaign for the 15th consecutive year,” said Will Howle, Head of U.S. Retail Banking at Citi. “Supporting the communities we serve is vitally important to us, and we are thrilled to lead this effort to reach as many young people as we can and help them build a sound understanding of the value and importance of saving.”

Citi began supporting American Bankers Association’s annual Teach Children to Save campaign in 2001. Since then, more than 10,000 Citi volunteers have taught over 100,000 children from low-to-moderate income families in cities across the United States.

“Financial education is one of the most important foundations a child can have,” said Frank Keating, ABA president and CEO. “Citi’s longstanding volunteer work through the Teach Children to Save program demonstrates their extraordinary role in shaping this groundwork for students in their communities.”

“Research has found that children who use a college savings account are more than four and a half times as likely to graduate from college as those with no savings account. Citi works with municipal governments and nonprofit organizations to develop and expand programs – such as Kindergarten to College in San Francisco, the Youth Policy Institute’s Families Save program in Los Angeles and Food Bank For New York City’s Financial Empowerment in Schools initiative – that empower young people with the critical knowledge, skills and resources they need to begin building financial assets and saving for the future,” said Bob Annibale, Global Director, Citi Community Development.