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Citizens Financial Group colleagues volunteered 310,000 hours in 2006
Company launches program to honor their exemplary service to communityBOSTON (February 26, 2007) - Citizens Financial Group, Inc. today announced its colleagues last year donated more than 310,000 volunteer hours to non-profit organizations and initiatives in its 13-state Citizens Bank/Charter One footprint, including more than 52,200 in Massachusetts. In recognition of the contributions its colleagues make to the community, Citizens also announced a new volunteer recognition program called Colleagues in Action that will celebrate its colleagues who perform exemplary service to the community.
“Citizens Bank is committed to making a real and lasting difference in the communities we serve,” said Robert E. Smyth, chairman, president and CEO of Citizens Bank of Massachusetts. “No where is this resolve more evident than among our colleagues who volunteer their time, energy and talent to organizations and initiatives that make communities throughout Massachusetts better places to live, work and raise families. I commend our colleagues for their commitment to the community and thank them for their service.”
“Corporate philanthropy, in all its forms, is vital to strong communities,” said Charles Moore, executive director of the Committee Encouraging Corporate Philanthropy. “Businesses possess the resources, capabilities and relationships to produce tremendous benefits to society. The Committee Encouraging Corporate Philanthropy is focused on raising the level and quality of corporate philanthropy. Thanks to companies such as Citizens Financial Group, which has created an atmosphere that encourages its employees to get involved in the community and to do their share to make a difference, we continue to the raise the bar even higher.”
Based on the hourly wage for volunteers as determined by the Independent Sector, the more than 310,000 hours volunteered by Citizens colleagues saved non-profits more than $5.5 million. Locally, non-profits in Massachusetts saved more than $942,000 through the volunteer efforts of Citizens.
In recognition of the contributions they make to the community, Citizens has launched a new volunteer recognition program to celebrate its colleagues who perform exemplary service to the community. Be Inspired awards will be provided to colleagues who inspire others to engage in giving back to the community. The awards will be presented in June during Colleague Appreciation Week, when every year the company recognizes the impact colleagues have on the company and the role they play in its success. Colleagues will be nominated for the awards by their co-workers, or they can nominate themselves. Winners will be chosen by state selection committees consisting of Citizens colleagues and community leaders.
As part of the program, Citizens will donate $2,500 on behalf of those recognized to non-profits of the winners’ choosing, generating a total of $30,000 in financial support for these organizations in Citizens’ service area annually.
Citizens’ volunteer function is one of several ways the company addresses the needs of the community. Last year, Citizens Bank of Massachusetts provided more than $7 million in charitable giving to non-profits throughout the state, nearly $1 million more than it contributed in 2005. Citizens gives one percent of pre-tax earnings to charity each year.
For more information on ways to support local community groups, visit www.citizensbank.com/community and click on get involved now with volunteer opportunities.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is a $164 billion commercial bank holding company. It is headquartered in Providence, R.I., and has more than 1,600 branches, approximately 3,200 ATMs and 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 and ninth ranked by assets as of March 31, 2006. Citizens is owned by RBS (The Royal Bank of Scotland Group plc).
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