Citizens: to Fund $465,000 for Rhode Island
CITIZENS TO FUND $465,000 FOR RHODE ISLAND
COMMUNITY AND SMALL BUSINESS SUPPORT
Bank is directing more than $5 million to support relief across service area
PROVIDENCE, RI - Community organizations and small businesses in Rhode Island will receive $465,000 in funding as part of a previously announced initiative through which Citizens Bank will direct more than $5 million to support relief and recovery across communities it serves, including $340,000 that will go directly to small businesses across the state.
“We believe our approach strikes a strong balance between rapid aid to community partners addressing immediate needs and longer term support for small business recovery,” said Keith Kelly, Rhode Island state president, Citizens Bank. “Our small business customers are a vital engine of the Rhode Island economy so it is critical that we both give them an immediate leg up and bolster their long term viability.”
Citizens Bank and the Citizens Charitable Foundation will direct $465,000 in Rhode Island as follows:
$175,000 to LISC Rhode Island which will award grants to small businesses in Rhode Island to provide emergency relief to mitigate economic impacts.
$165,000 in direct grants to Citizens Bank small business customers in Rhode Island and to help them continue operating and recover from the impacts of the coronavirus pandemic. The program will provide $15,000 grants to 11 of the bank's small business customers. Details of the award program can be found here.
$125,000 to the COVID-19 Response Fund administered by the United Way of Rhode Island and The Rhode Island Foundation which is supporting local nonprofits with direct service programs.
In addition to providing new funding, Citizens removed programmatic restrictions on 2020 funding to non-profit partners to allow support to be diverted to the areas of greatest need.
Citizens Financial Group, Inc. is one of the nation's oldest and largest financial institutions, with $165.7 billion in assets as of December 31, 2019. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a 24/7 customer contact center and the convenience of approximately 2,700 ATMs and approximately 1,100 branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers corporate, institutional and not-for-profit clients a full range of wholesale banking products and services, including lending and deposits, capital markets, treasury services, foreign exchange and interest rate products, and asset finance. More information is available www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.
About Citizens Charitable Foundation
The Citizens Charitable Foundation is a philanthropic organization funded by Citizens Financial Group, Inc. The Foundation's mission is centered in the belief that citizenship is at the heart of Citizens' identity, and when people and communities reach their potential, we all thrive. The Citizens Charitable Foundation currently focuses its giving in three key areas: helping people to manage their money, engaging with partners in the fight against hunger, and strengthening our communities. By investing in these important issues, the Citizens Charitable Foundation strives to improve the lives of our fellow citizens through building partnerships with public, private, and community interests to develop neighborhoods, transform lives, and stimulate economic renewal.
Courtesy of Citizens Bank