Community Reinvestment

Citizens Pledges $5M To Affected Communities

Will Benefit Areas Hard Hit By Coronavirus

Keith Griffin

March 24, 2020

Citizens Bank, based in Providence, announced a $5 million commitment to support communities and businesses dealing with impacts of the coronavirus pandemic. These resources will back both a number of broad-based community support initiatives across the Citizens service area as well as specialized programs focused on providing aid to small businesses and their workforces.

The bank’s COVID-19 support effort will have two components:

  • A Community Support Relief program that will provide charitable contributions to community partners to assist with wider relief efforts. One example of this is charitable contributions to be committed to broad-based relief funds in Massachusetts, Pennsylvania and Rhode Island, with others to be determined. Longer term, the company plans to work with community partners to identify solutions to address changing needs.
  • A Small Business Relief and Recovery program that will provide charitable contributions and other assistance aimed at helping small businesses restore full operations, rehire and recover in the months to come.

In addition to the resources for small business relief, Citizens will implement several initiatives that will enable customers and colleagues to lend their support. These include enabling users of the bank’s cash-back credit cards to designate all or part of their cash rewards to the relief and recovery fund. Further, Citizens will create a mechanism through which customers, colleagues and others can donate to support the effort.

Also, Citizens removed programmatic restrictions on 2020 funding to non-profit partners to allow support to be diverted to the areas of greatest need.

Read more about Citizens' $5 million coronavirus commitment.

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