Citizens Financial Group, announced a $10 million commitment to promote social equity and drive economic advancement in underserved communities. This new investment will harness the bank’s resources, expertise and the unique strengths of its culture to help drive real and lasting progress across the communities it serves. It will build upon Citizens’ already strong efforts in these areas, as evidenced by the company’s “Outstanding” Community Reinvestment Act rating.
“This program will promote further diversity and inclusion at Citizens and will utilize our platform to fund investments and support volunteerism to drive change and make a meaningful impact.”
“We believe it is important to step forward to promote social and economic equity, to help eradicate racism and discrimination, and to work towards a world where all people and communities thrive,” said Bruce Van Saun, Chairman and Chief Executive Officer, Citizens Financial Group. “This program will promote further diversity and inclusion at Citizens and will utilize our platform to fund investments and support volunteerism to drive change and make a meaningful impact.”
The investment will include $10 million in grants and charitable support for immediate and longer-term initiatives aimed at supporting minority-owned small businesses, increasing awareness of racial disparities, and supporting underserved communities through technology, education and digital literacy initiatives. It also includes more than $500 million in incremental financing and capital for small businesses, housing, and other development in predominately minority communities.
Additionally, Citizens’ commitment features new programs at the company to further increase leadership and workforce diversity while expanding awareness of social equity issues and providing additional opportunities for colleagues to make an impact within its communities.