Citizens Financial Group has committed $10 million to support workforce development programs over the next two years. The funds will be directed to nonprofits aiming to enhance educational and career opportunities, addressing the evolving demands of the modern economy.
"Workforce development is a major focus for the bank and one that is top of mind for our clients and critical to the success of the communities we serve," said Bruce Van Saun, chairman & CEO of Citizens. "This investment is not just about supporting programs, it’s about supporting people – people who are ready to learn, to grow, and contribute to the economic vitality of our communities."
The initiative aligns with Citizens' Sustainability & Impact strategy. As a superregional bank, Citizens aims to collaborate with industry and community leaders to tackle local workforce challenges and prepare communities for future opportunities.
Citizens plans to build partnerships with national organizations such as LISC, Year Up, Junior Achievement, Education Design Lab, Girls Who Code, and Council for Economic Education. These collaborations will offer upskilling and reskilling services leading to in-demand careers.
Recent initiatives include $1.6 million in funding for the Community College Accelerator program with Education Design Lab across ten community colleges in Boston, New York City, New Jersey, Philadelphia, Pittsburgh, and Rhode Island. Additionally, a $600,000 grant was awarded to LISC New York and Central Brooklyn EDC for the Brooklyn Youth Offshore Wind Training Program.
A survey conducted by Wakefield Research in partnership with Junior Achievement revealed that teens aged 13-18 are optimistic about their futures but seek support in acquiring necessary skills. This underscores the need for expanded upskilling programs.
Citizens Financial Group is headquartered in Providence, Rhode Island. It manages assets worth $219.9 billion as of June 30 and operates approximately 1,000 branches across 14 states and the District of Columbia.
