Capital One Bank and Heart of America Unveil READesigned Library in Jersey City

Capital One Bank and The Heart of America Foundation®, a non-profit organization working to help children nationwide learn to read, today unveiled a new and revitalized library facility at PS 15 Whitney M. Young Jr. in Jersey City, New Jersey. More than 75 volunteers from Capital One Bank participated in the project.

"We believe in the power of learning to transform lives, and we’re proud to be able to celebrate literacy in such a meaningful way, through our work with Heart of America,” said Kirsten Micco, Market President for Capital One Bank in Central New Jersey. "The READesign includes the addition of more than 1,000 new books for the library, including a special section of new books devoted to financial literacy. We hope that this will be a magical new space for students at PS 15 – where they can explore the power of books.”

The makeover has transformed PS 15’s library by improving the layout and design, redecorating the space, providing new furniture and replenishing book shelves. The program also seeks to renew community support for the powerful impact of literacy. In addition to providing children with popular classic and modern titles for their school and home libraries, the READesign^SM program provides free resources for parents to help enrich students’ overall learning experience. Capital One has sponsored and provided volunteers at 11 READesign projects across the country.

"We are committed to revitalizing these libraries and building community within the walls of these schools, creating a place where children will be excited to spend time and learn all that books have to offer,” said Angie Halamandaris, President and Co-founder of The Heart of America Foundation.

More than 75 volunteers spent two days on the renovation, which includes new paint, new shelving and new work space for children and teachers. Capital One donated over 1,000 new, high-quality library books for the library, and more than 3,800 books for the home libraries of the students; each P.S. 15 student will receive five new books to take home to start their own libraries.

"We couldn’t be happier with our new library,” stated Joanna Veloz, Principal, PS 15 Whitney M. Young Jr. Elementary School. "The new furniture, the thousands of new books and the overall celebration of literacy that this project embodies mean so much to our children, their families and the entire community.”

Each year, The Heart of America Foundation identifies schools across the country in need of a READesign. Since the late 1980s, a significant body of research has shown a positive relationship between school libraries and student achievement. School libraries positively influence student achievement in terms of reading scores, literacy, and general learning. Nationally, school libraries average 22 books per pupil. However, in many communities, school libraries only have one book or fewer per student. The Heart of America Foundation, through the READesign program, aims to bring the collections of program participants up to the national average.

About Capital One

Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A., Capital One Bank (USA), N.A., and Chevy Chase Bank, F.S.B., collectively had $121 billion in deposits and $150 billion in managed loans outstanding as of March 31, 2009. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients. Capital One, N.A. and Chevy Chase Bank, F.S.B. have approximately 1,000 branch locations primarily in New York, New Jersey, Texas, Louisiana, Maryland, Virginia, and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.

Capital One Bank is a registered trade name of Capital One, N.A.

About The Heart of America Foundation

The Heart of America Foundation’s mission is to help people, particularly children, learn that they help themselves when they help others. Their goal is to give children everywhere the tools they need to read, succeed and make a difference. Their programs uniquely combine literacy and volunteerism. The Heart of America is a national, nonsectarian, non-partisan, nonprofit, humanitarian organization. Learn more about us at www.heartofamerica.org.