RBS Citizens Financial Group Inc. is donating money to two midstate organizations as part of a $2 million campaign to promote financial literacy.
“The dollars are targeted to small business education, small business lending, running our loan operation here, and the technical assistance that goes along with that,” she said.
CREDC hopes the grant is the first phase of a four-year commitment, Goldstein said. Citizens has been highly supportive of the organization over the years, she said.
Tri-County, a nonprofit community housing devlopment organization serving Cumberland, Dauphin and Perry counties, will receive $5,000, which it will use toward the educational component of its Lease Purchase program, Executive Director Becky Vogel said.
The program, getting under way in Harrisburg, allows people with credit problems or other issues affecting their ability to qualify for a mortgage to lease a house up to two years before buying it. During that time, they receive counseling to help them shore up their finances, Vogel said.
In all, RBS Citizens said it is giving $1 million nationwide this month to nonprofits, with $1 million more to follow over the rest of the year. The new donation program, dubbed “Citizens Helping Citizens Teach Money Management,” will reach more than 100,000 consumers and small businesses, RBS Citizens said.
In Pennsylvania, the donations total $325,000, RBS Citizens said.
Based in Providence, R.I., RBS Citizens operates 1,400 branches in the U.S., including 378 through Citizens Bank of Pennsylvania, which has dual headquarters in Pittsburgh and Philadelphia. RBS Citizens is a subsidiary of the Royal Bank of Scotland.