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CFG provides 50 children of Citizens Bank and Charter One Bank colleagues with $3,000 college scholarships each
Citizens has committed more than $865,000 to CFG Scholars in three yearsPROVIDENCE, RI (July 19, 2006) - Citizens Financial Group, Inc. today announced it has awarded $3,000 college scholarships each to 50 children of Citizens Bank and Charter One Bank colleagues in New England, the Mid-Atlantic and the Midwest. Approximately half of the young men and women in this third annual CFG scholars “class” already are attending college while others are beginning their higher education this fall. In three years, Citizens and Charter One have committed more than $865,000 in scholarships to colleagues’ children.
“With college costs averaging more than $21,000 at private schools and $5,500 at public schools for the 2005-2006 school year, we are pleased to offer a program that helps ease the expense of higher education for colleagues and their families,” said Lawrence K. Fish, Chairman and CEO of Citizens Financial Group. “We are proud to announce this year’s very talented group of CFG Scholars and to renew dozens of scholarships for previous recipients.”
Collectively, this year’s class of CFG Scholars achieved a grade point average of 3.86 and a Scholastic Aptitude Test average score of 1,325, surpassing the national average of 1,028. More than 80 percent of the members of last year’s class of CFG Scholars are receiving scholarship renewals for the coming school year.
Scholarship America serves as the program administrator and selected all winners based on defined criteria that include financial need, academic performance and community involvement.
Program applicants must be dependent children of full-time or part-time Citizens Financial Group employees in good standing with a minimum of one year of service. They must be age 23 or younger to be enrolled (or plan to enroll) in a full-time, undergraduate course of study at an accredited two or four-year college, university or vocational school. Students may be eligible to renew their scholarships for their remaining years of undergraduate study.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is a $155 billion commercial bank holding company. It is headquartered in Providence, R.I., and has more than 1,600 branches, approximately 3,800 ATMs and more than 26,000 employees. It operates its 13-state branch network in Connecticut, Delaware, Illinois, Indiana, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island and Vermont, and has non-branch retail and commercial offices in about 40 states. Citizens is the eighth-largest commercial banking company in the United States ranked by deposits. Citizens is owned by RBS (The Royal Bank of Scotland Group plc).
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