Citi Sponsors First New England Youth Financial Education Forum

Citi’s Office of Financial Education will sponsor forty leading youth financial literacy advocates from throughout New England to gather at the Federal Reserve Bank of Boston on October 27-29 to discuss educational strategies that should be implemented to increase the financial literacy of New England youth. This first-ever New England Youth Financial Education Forum, organized by Rhode Island Jump$tart Coalition Executive Director, Jim Hedemark, brings together representatives from State Treasurer’s Offices, State Departments of Education, student loan organizations, federal agencies, and other leading stakeholders.

"Financial education is one of Citi’s highest priorities. Understanding how to use money wisely is incredibly important through empowering students and young adults by providing the information and tools they need to reach their financial goals. Citi wholeheartedly supports efforts such as this Forum, which hopes to advance the promotion of financial education for all youth," said Dara Duguay, Director, Citi Office of Financial Education.

Representatives from Rhode Island at the forum will include:

• Prof. Paul Maloney, Chair of the Finance Department, Providence College
• Charles Kelley, Executive Director of the Rhode Island Student Loan Authority
• Gail Mance-Rios, Deputy Director of the RI Higher Education Assistance Authority
• Peter Kerwin, Chief of Program Development, RI Higher Education Assistance Authority
• Laurie, Mockler, Business Teacher at Pilgrim High School

Hedemark, forum organizer and Executive Director of the Rhode Island Jump$tart Coalition states, "After advocating for youth personal financial education in Rhode Island for nearly five years, I am encouraged by the efforts being made by educators in our state, but our research reveals that only five percent of high school students in Rhode Island take a course dedicated to personal finance each year. I am worried that the compelling daily lessons of the financial marketplace are being lost on our students. This is a time that is ripe with what educators describe as ‘teachable moments.’”

He continues, "Stakeholders in other New England states share my concerns. This was the genesis of this regional forum. Our goal is to significantly forward our collective mission of saving the next generation of adults from the financial frustrations that exist in today’s personal financial marketplace.”

"We are pleased to be hosting this event,” says George "Scott” Guild, director of economic education at the Boston Fed. "Many young people are seriously lacking in basic financial knowledge, and the Bank is strongly committed to working with financial educators to ensure that young people are able to make informed financial decisions throughout their lives.” High school seniors can answer less than half (48%) of personal finance questions correctly, according to a 2008 national survey by the Jump$tart Coalition.

A committee of organizers helped shape the forum and is comprised of representatives from the Federal Reserve Bank of Boston (FRBB), the FDIC Boston Area Office, the Internal Revenue Service (IRS), the United States Treasury Office of Financial Education, the Massachusetts Office of the Treasurer, and the New England Jump$tart Coalition.

The Boston Fed’s Scott Guild commends the efforts of forum organizers and the educators who will be attending. "We are very appreciative of the efforts of those attending and hosting the forum,” he observes. "They are serving on the front lines every day in the effort to achieve youth financial literacy.”

The forum opens with a keynote address on Monday, October 27, proceeds to a full day of sessions and workshops on Tuesday, and concludes at noon on Wednesday. There are three keynote presentations:

OCTOBER 27 (MONDAY) 6:00 - 7:30 p.m.

Dr. Robert F. Duvall, President and CEO

National Council on Economic Education

OCTOBER 28 (TUESDAY) 9:00 - 9:30 a.m.

Dan Iannicola Jr., Deputy Assistant Secretary for Financial Education

U.S. Department of the Treasury

OCTOBER 28 (TUESDAY) 6:30 - 7:30 p.m.

Dara Duguay, Director

Citi Office of Financial Education

Media are invited to the keynote presentations. See below.

The forum is made possible through funding from Citi and the National Council on Economic Education (NCEE) with the support of the National Endowment for Financial Education (NEFE), Visa, and Topics Education.

Media Advisory

Members of the press are invited to attend any or all of the three keynote presentations noted above. These presentations are Monday, October 27, at 6:00 p.m. and Tuesday, October 28, at 9:00 a.m. and at 6:30 p.m. The keynote speakers will be available to talk with the media after their presentations. All other sessions are closed to the media.

Citi

Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citi's major brand names include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Nikko. Additional information may be found at www.citigroup.com or www.citi.com.

The Citi Foundation supports organizations that help people improve their lives, businesses to grow, and communities to prosper around the world. The Citi Foundation focuses its grants primarily in three areas: financial education, educating the next generation, and building communities and entrepreneurs. Additional information can be found at http://www.citigroupfoundation.com/

Based on the belief that knowledge is your greatest asset ®, the Citi Financial Education Program is a global, company-wide effort to identify, support and implement initiatives that help give individuals, families and communities the tools needed to make sound financial decisions. Citi's 10-year, $200 million global commitment is focused in three areas: Personal, Small Business and Institutional Financial Education. Additional information about Citi's Financial Education Program, including Citi Foundation guidelines, links and resources, and the Citi Financial Education Program Curriculum, may be found at: http://financialeducation.citi.com/.