Results tagged as "financial inclusion"

  • It is time to Start2Save!

    By Gwendy Donaker Brown, Director of Policy and New Initiatives, Opportunity Fund July 30, 2012 01:00 PM

    Last year, Opportunity Fund launched our newest savings product - Start2Save. These savings accounts are designed to support low-income people in building up emergency savings through a free Citi savings account coupled with financial training and a matching grant of up to $1,000. Once a saver has earned the grant, how they use the money is completely up to them - no strings attached.

    Opportunity Fund is the nation's leading Individual Development Account (IDA) microsavings provider and we've built a long and rich partnership with Citi. We offer an IDA that gives low-income savers complete control of their own savings--a radical departure in the asset-building field. Historically, the microsavings provider (like Opportunity Fund) approved when and where savings were invested. In this case, the asset is simply the dollars saved. The saver maintains full autonomy and control over the money. Empowerment and responsibility are what we teach, after all.

    After the first year rolling out these new Start2Save microsavings accounts, here's a look at what we've seen and learned so far and where we are headed:

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  • PBS series supported by the Citi Foundation focuses next on the financial decisions facing the working poor

    By Daria Sheehan, Senior Program Officer, U.S. Financial Capability and Asset Building, Citi Foundation July 27, 2012 03:00 PM

    The third installment of a special financial inclusion series underwritten by the Citi Foundation will debut this evening on the PBS weekly public affairs news program "Need to Know". The five-part series, "Your Money and Your Life," illustrates the Citi Foundation's commitment to educate, empower and transform low-income communities by supporting efforts to build financial capability among consumers. Click here to read a previous post about the series' debut.

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  • Citi Foundation-supported PBS series continues, focusing on peer-to-peer assistance

    By Daria Sheehan, Senior Program Officer, U.S. Financial Capability & Asset Building, Citi Foundation June 29, 2012 03:00 PM

    The second installment of a special financial inclusion series underwritten by the Citi Foundation will debut this evening on the PBS weekly public affairs news program "Need to Know". The five-part series, "Your Money and Your Life," illustrates the Citi Foundation's commitment to educate, empower and transform low-income communities by supporting efforts to build financial capability among consumers. Click here to read a previous post about the series' debut.

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  • With Citi Foundation support, PBS spotlights financial inclusion

    By Daria Sheehan, Senior Program Officer, U.S. Financial Capability & Asset Building, Citi Foundation May 18, 2012 09:45 AM

    A special financial inclusion series underwritten by the Citi Foundation will debut this evening on the PBS weekly public affairs news program "Need to Know". The five-part series, "Your Money and Your Life", illustrates the Citi Foundation's commitment to educate, empower and transform low-income communities by supporting efforts to build financial capability among consumers. "Your Money and Your Life" will cover the financial lives and needs of low-income Americans to provide a unique view into their communities, profile model programs, and detail public policy recommendations.

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  • 'Inclusive Innovation' is the Financial Sector's Opportunity to Grow and Re-engage Society

    By Jo Mackness, Executive Director, Center for Responsible Business, Haas School of Business at UC Berkeley January 26, 2012 02:00 PM

    While experts agree about the critical role banks play in a thriving economic system, many also think more can be done to go beyond this fundamental role and embed delivering social value into the core business of banks.

    These views were expressed in a new report released by the Center for Responsible Business at the Haas School of Business, University of California-Berkeley and research consultancy GlobeScan who interviewed 60 experts inside and outside the financial services industry to explore how the industry will evolve over the next decade.

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  • Microfinance pioneer ACCION celebrates its 50th anniversary, honors Citi CEO Vikram Pandit

    October 21, 2011 04:19 PM

    Yesterday evening, Citi CEO Vikram Pandit was honored by ACCION, a nonprofit pioneer and leader in global microfinance, at its 50th anniversary dinner. Committed to bringing the benefits of financial services to the underserved and unbanked, ACCION has lifted countless individuals, families and communities out of poverty. And Citi, ACCION's longest-tenured corporate partner, has been their partner every step of the way for more than 45 years.

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  • Global financial inclusion work honored.

    By Citi August 09, 2011 02:00 PM

    The American India Foundation (AIF) recently honored Citi Foundation with its Leadership in Philanthropy Award in recognition of our programs and partnerships focused on economically empowering low- to moderate-income people globally. Citi Foundation President Pam Flaherty accepted the award at AIF's 10th anniversary event in New York, which helped raise $1.8 million in corporate and institutional support for AIF's own social and economic development programs in India.

    Citi Foundation is six years into a $200 million decade-long commitment to support a wide range of financial capability programs, so far investing over $167 million in 73 countries. Citi's program officers work in collaboration with global and U.S.-based financial education and asset building organizations to develop programs that help people develop the skills they need to make informed financial decisions, and acquire and preserve assets over the course of their lives. As Flaherty noted in accepting the Leadership in Philanthropy award, such collaborations, with AIF and others, are key in helping Citi Foundation "design and test financial inclusion innovations with potential to achieve scale and significant impact."

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  • How Citi helps leverage expertise to benefit the "next billion."

    By Scott Anderson, Managing editor, NextBillion.net July 21, 2011 10:15 AM

    At NextBillion, we are focused broadly on development through enterprise, and specifically on ways to help the "next billion" people rise into the middle class from the base of the economic pyramid. NextBillion.net launched in 2005 as an initiative of the World Resources Institute (WRI) and it has evolved into a blog, newsroom, research tool and career center for business leaders, social entrepreneurs, NGOs, policy makers and academics working to open opportunities for the world's approximately 4 billion low-income producers and consumers.

    Vital funding from the Citi Foundation will help NextBillion turn long-held aspirational goals into operational ones, facilitating a redesign of NextBillion's front page, as well as those of our sister sites NextBillion Brasil and NextBillion Espanol. It will also help develop an improved mobile presence--something we know is of importance to our expanding smart phone audience. We have a number of other technical plans on the table that this grant will help us deliver, but we'll announce those as the launch grows closer.

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  • Citi and the Citi Foundation's $25 million university research initiative.

    By Citi June 02, 2011 12:36 PM

    Citigroup is proud to announce today the launch of the Financial Insights Project. Over the next five years, the Citi Foundation will provide up to $25 million to leading universities conducting research on issues affecting the financial services landscape in the areas of innovation, technology, globalization and consumer behavior.

    For 2011, the Citi Foundation will award individual contributions to the graduate schools at Columbia University, Harvard, the Massachusetts Institute of Technology (MIT), Stanford and Yale. Each academic institution will have a distinct focus area for its respective research, as follows.

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