Citigroup s Financial Education Program from a global perspective

Transcription

1 Citigroup s Financial Education Program from a global perspective Dara Duguay, Citigroup Office of Financial Education Improving Financial Literacy Conference November th, 2006 Moscow, Russia

2 About Citigroup 323,000+ employees 100 countries 200 million customer accounts Our businesses Global Consumer Group Citibank, CitiFinancial, Citi Cards, Primerica, CitiMortgage, Student Loan Corporation, Commercial Business Group, Women and Company, Diners Club Citigroup Wealth Management Private Bank, Smith Barney and Citigroup Investment Research Citigroup Alternative Investments Corporate and Investment Banking

3 Our Shared Responsibilities We must respect the local culture and take an active role in the communities where we live and work» Citigroup Shared Responsibilities, September 2006

4 Citigroup Commitment April 7, Citigroup Office of Financial Education 10-year, $200 million grant commitment towards financial education programs globally (funded by the Foundation & the Businesses). Nearly $30 Million spent in 2005 in 68 countries ($53 Million total since launch) Citigroup Foundation programs have touched over 1 Million lives Policy that each employee will be given a day off (8 hours) to volunteer. 8,500 volunteers have contributed their time and talent to financial education

5 OFE: Focus Areas Personal: FE to help individuals and families spend, save, earn, and manage debt wisely in order to achieve personal financial goals. Small Business: FE focused on helping entrepreneurs to save, borrow, invest, and secure financing for their business. Includes microfinance programs that have a financial education component. Institutional: FE at the macro-level. Assistance provided to governments and institutions around the world to implement economic controls, support transitions to a free market and establish the foundations of a healthy economy.

6 Curriculum Overview English, Spanish, Japanese, Chinese, ( French 2007) (On-line version- interactive games) (CFEC Binder Cover) Launched October 2003, updated extensively in 2006 Used with hundreds of NGOs Age appropriate for children, teens, and adults outside the financial mainstream

7 Training Program: Overview Available to Citigroup Employees and NGOs Online program features: Learning modules are selected by the user according to need Covers Curriculum content Can be accessed wherever user has Internet access (work, home, etc.) Features audio throughout and video of teaching sessions Over 4,800 employees and NGO partners have undergone training In-person training is provided in major markets as needed (FE Training Web site)

8 Customer Education Tools

9 Customer Education Tools

10 Program Examples by Region United States Purses to Portfolios Mexico Saber Cuenta Asia Pacific Citigroup/ INSEAD Financial Education Summits & Microfinance (China) Latin America Banks in Action EMEA My Finances (Poland), Financially Speaking (U.K.), FSVC (Russia) & Microfinance Training Center (Russia)

11 Purses to Portfolios - DE, USA Jointly sponsored by the Citigroup Delaware Leadership Council, the Citigroup Foundation and the Delaware Financial Literacy Institute. Held October 21st, 2006 and was well attended by 1400 women; 60% of the population (LMI). Agenda included financial topics such as: basic budgeting; investing; and what it takes to start your own business. Program encourages women to pursue on-going financial education through Delaware Money School classes.

12 Office of Financial Education - Mexico Promote Financial Education as Part of Banamex s work

13 Saber Cuenta - impact Launch June 2005 Employees, government, private and NGO sector 28 Programs 20 Strategic partners 647,033 Beneficiaries: (Children 111,329, Teenagers 352,026, Adults 183,678) 716 Volunteers

14 Citigroup/ INSEAD Financial Education Summits - Asia November 9-10 in Seoul, Korea Theme: Financial Health for the Next Generation 300 delegates from government, NGOs, academia and private sector Third annual financial education summit organized by Citigroup in Asia Pacific 2004 in Hong Kong first of its kind in the region 2005 in Kuala Lumpur Web site is

15 Microfinance Training Center - China Grant to the Chinese Academy of Social Sciences, which operates the Funding for the Poor Cooperative The Academy will establish the Citigroup Microfinance Training Center to support the development of the microfinance industry in China Training will be targeted to managers and staff of MFI Plans to train over 1,500 over 5 years in areas such as: Leadership and Management Skills, loan quality, internal controls and fraud prevention

16 Banks in Action Latin America Developed in 1996 Teaches students the principles of banking industry & the challenges of successfully operating a bank in a competitive environment Currently reaches more than 26,000 students in 26 countries Program is currently being rolled out in the U.S. $2.8 million 3-year grant for redesign and global signature sponsorship

17 My Finances - Poland Partnership among Kronenberg Foundation, National Bank of Poland and Junior Achievement Poland 200 schools, 2,400 teachers, 216,000 students by the end of next year Modules: I Like Banks My Investments Investing Towards the Future

18 Financially Speaking U.K. 20 schools in Southeast London 800 students 20 Citigroup volunteers Final competition at Citigroup Centre Needs and Wants Budgeting Compound Interest Responsible Ways of Earning Money Cost of Cool

19 FSVC Russia Financial Services Volunteer Corps is a public-private partnership whose mission is to help build sound banking and financial systems in transition and developing countries. Discuss current trends in money laundering techniques Develop best practices in anti-money laundering policies Anti-money-laundering compliance training seminar Training provided to Russian banks, Central Bank of Russia and the Russian Federal Service for Financial Monitoring Three-year program

20 Microfinance Center Russia Deliver training programs to build the professional skill base in the microfinance sector Conduct Russian microfinance market study Develop a portfolio of consulting tools Collaborate with Universities through E-training for loan officers and integrating microfinance into higher school of Economics MBA program Execute a scholarship program enabling practitioners to attend training programs

21 Citigroup supports financial education because it is a natural extension of the work we do every day.

22 Contacts and Web sites Dara Duguay, Director Citigroup Office of Financial Education Phone: Nataly Nikolaeva, Public Affairs Officer Citigroup Russia Phone: 095/ Web site: