Results tagged as "us"

  • The road trip, day three.

    August 05, 2010 02:25 PM

    Citi Community Development's Ruth Christopherson, George Wright and Ashley Thompson set out recently on a road trip to visit our non-profit partners and grant recipients across South Dakota. The journey covered 1,000 miles in three days. Here is Part Three of their story:

    Day three. We headed north to the town of Eagle Butte, on the Cheyenne Indian Reservation. Citi has worked with Four Bands Community Fund for the past seven years to revitalize that area, through business creation and financial education, and we were looking forward to meeting with our friends at Four Bands.

    Four Bands officials led us on a walking tour of downtown Eagle Butte, to visit several entrepreneurs who got started with business development loans and training from Four Bands. At Eagle Butte Saddle Shop, for instance, we met John Bachman, an engaging gentleman who is not only the owner of that business, but also the local executive director of Habit for Humanity and the town's mayor. We ate lunch at the Out Rider Café, another local Four Bands success story.


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  • One thousand miles, three days.

    July 30, 2010 04:02 PM

    Citi Community Development's Ruth Christopherson, George Wright and Ashley Thompson set out recently on a road trip to visit our non-profit partners and grant recipients across South Dakota. The journey covered 1,000 miles in three days. Here is Part One of their story:

    Our journey started early on this bright morning and our first stop was in Fort Thompson. There we visited our partners at The Harvest Initiative, a project organized in 2008 to create and facilitate economic opportunity on the Crow Creek Sioux Reservation. Harvest Initiative is two years old and Citi has been working with them from the beginning to support Native American small businesses.

    We met Sherwood Hawk, the first grant recipient and proud owner of Hawk Tire Service. He truly captures the spirit of entrepreneurship in Indian country, and quickly demonstrated his sharp wit and keen sense of business when he charged us a $50 photograph fee. (He was kidding!)

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  • Financing affordable housing in New York City.

    By Citi July 13, 2010 05:09 PM

    A much-needed affordable housing development for low-income seniors in Brooklyn, New York, financed in part by Citi, is now open and occupied. The development, known as Crown Heights Apartments, has services such as home care, meals and transportation to enable elderly residents to "age in place."

    New York City has been on a major push to create and preserve more affordable housing. The city's initiative hit a milestone in May by completing the 100,000th unit towards its goal of creating or preserving 165,000 additional affordable homes before 2014. "We're proud to support the development of affordable housing for New York residents across the demographic spectrum," said Eileen Auld, State Director for Citi Community Development, "and the Crown Heights Apartments for seniors is a wonderful addition. Through our long-standing partnerships with the New York City Housing Development Corporation (HDC) and other agencies and nonprofits, we've been able to have a significant impact. Economic empowerment starts with having a decent, affordable place to live, and Citi will continue working hard to help provide affordable housing for underserved New Yorkers."

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  • Partnering for community development.

    By Citi June 01, 2010 12:19 PM

    Citi's corporate citizenship is founded on alliances that are long-lasting, comprehensive and constructive. For example, Citi has worked closely with ACCION Texas for more than ten years, as it has grown to have the largest small-business microloan portfolio in the U.S. Our alliance has included: a landmark deal in 2008, in which Citi's Commercial Bank and Citi Microfinance provided a financing structure that enabled ACCION to expand; development of industry-standard technology; ongoing financial support from the Citi Foundation; and ideas and strategic thinking by the Citi Community Development team in Texas.

    Citi also partners with the YWCA of Metropolitan Dallas to help that agency deliver essential financial education. With grant funding from the Citi Foundation and leadership and volunteer support provided by Citi Community Development, the YWCA is able to help many low-income women get access to tax credits and social benefits that can help ensure their well-being and that of their families.

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  • Helping small business owners harness the power of social media.

    By Raj Seshadri, Head of Small Business Banking, Citibank May 26, 2010 10:30 AM

    So maybe not everyone is on Facebook...yet.

    That's why, as part of National Small Business Week, Citibank Small Business is hosting an online seminar to help small businesses get online.

    A recent Citibank survey revealed that small business owners are not taking full advantage of online tools to help them grow their business. In the survey, 63 percent of small business owners called "word of mouth" the most effective way to market their business and find new customers -- yet 81 percent said they do not use social media.

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  • Rebuilding Haiti one step at a time.

    By Gladys M. Coupet, Citi Country Officer-Haiti May 07, 2010 05:47 PM

    The devastating earthquake that struck my home country of Haiti earlier this year took hundreds of thousands of lives, including five of our Citi colleagues, and continues to impact millions. And while we don't know how long it will take to recover, Citi is taking a major step in the right direction by providing $1 million in charitable contributions to local microfinance institutions -- grants that will help create jobs and contribute to long-term economic development.

    The funds will be distributed to three organizations: Fonkoze, FINCA Haiti and SOGESOL -- all experienced microfinancing institutions with impressive records of success here. These groups will extend credit as well as grants to entrepreneurs and small business owners who provide needed services and are the future of the Haitian economy.

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  • Citi's newest investment in America: $200 million for low-income communities.

    By Vikram Pandit, CEO May 06, 2010 11:38 AM

    Today, Citi is making a major investment in the U.S. economy by launching the $200 million Communities at Work Fund (CWF) -- the largest fund in the nation dedicated to offering financing to small businesses and community service providers in low-income communities.

    The Fund, and our investment in it, are a true reflection of our strong commitment to the communities we serve, and to providing them credit that creates jobs and opportunity.

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  • America's small business owners undaunted by recession.

    By Raj Seshadri, Head of Small Business Banking May 06, 2010 09:20 AM

    Small businesses face big challenges -- in both good economic times and bad. Yet a new Citibank survey suggests that America's entrepreneurs are undaunted by the recession and positive about their future prospects -- despite current difficulties and the lasting effects of the economic downturn.

    The encouraging data was announced this week as we released the results of a survey of more than 550 U.S. small businesses, each with annual revenues exceeding $100,000 and fewer than 100 employees. The survey results show that even in the face of lasting effects from the recent downturn, small business owners -- especially those under 45 -- are optimistic.

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  • Our promise to small business.

    By Citi April 27, 2010 01:31 PM

    Small business is the backbone of the American economy, and its success is critical to the nation's recovery. Here at Citi, we are committed to providing small business owners with the advice and tools they need to manage their businesses even better, and to grow and create jobs.

    As part of that commitment, we are hosting a series of small business seminars in the New York area that will help business owners make sound financial choices. The program kicked off last week in Brooklyn with an event that focused on the latest techniques to guard against identity theft and online fraud. The series will continue throughout April and early May in Queens, Staten Island and the Bronx, with other seminars addressing "Cash Management Strategies."

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  • Citi helps finance upgrades to 20,000 New York public housing units.

    By Citi March 16, 2010 05:46 PM

    Citigroup and the New York City Housing Authority struck what's being called a "creative" fix to finance upgrades to 20,000 local public housing units. The tax credit bond deal generates more than $400 million for the developments, in part by unlocking $108 million in previously announced federal stimulus funds as well as $42 million in New York State modernization funds, Mayor Michael Bloomberg's office says. The renovations are also expected to create hundreds of construction jobs.

    The plan capitalizing on private and federal dollars preserves affordable housing. "We want to send a signal to the city where our headquarters is located that we are going to play a much more active role in community development," Citi Community Capital's Andrew Ditton tells Bloomberg News. "This is a showcase for how we can use our financial resources and brain power to create a complex transaction for the public's benefit."

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