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Sep 23, 2010

Citigroup, Citi Foundation to be Honored for Advancing the Field of Asset-Building in America

Citigroup CEO Vikram Pandit to accept the CFED Assets and Opportunity Award and discuss Citi’s decision to build corporate citizenship into its business model to provide underserved communities with access to capital and innovative savings programs

WASHINGTON, DC – Citigroup CEO Vikram Pandit will accept the Corporation for Enterprise Development’s "Assets and Opportunity Award" on Sept. 23 on behalf of Citi and the Citi Foundation. They are to be honored for advancing the field of asset-building in the United States, and increasing low-income household usage of financial products and services that help them move up the economic ladder through education, homeownership, and entrepreneurship. They are also being recognized as a pioneer in building corporate citizenship innovations into their business model.   

"Citi’s efforts are invaluable to advancing the field of asset-building in the United States," said CFED President Andrea Levere. "They have been innovative in combining their philanthropic and business resources to craft new solutions to advance economic opportunity and provide new routes to college success for the next generation of Americans. We are pleased to honor those efforts and look forward to continuing to collaborate with Citi on this important work."

In accepting the award, Pandit will address CFED’s biennial Asset Learning Conference on Citi’s efforts to invest significant resources into helping the communities where it does business. He will also discuss the need for corporations to build partnerships with locally based groups to find solutions to economic, social and environmental programs, and the work Citi is doing with its partners to provide underserved communities with access to capital and innovative savings programs that incent households to save through matches and financial counseling.   

CFED’s biennial conference, The Assets Movement at Its Moment: Creating the Save & Invest Economy, is expected to attract more than 1,000 government officials, policymakers, researchers, business leaders, innovators, entrepreneurs and community practitioners. It aims to lay a new foundation for economic recovery that helps all Americans expand opportunity and achieve financial freedom.
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CFED expands economic opportunity by helping Americans start and grow businesses, go to college, own a home and save for their children’s and own economic futures. We identify promising ideas, test and refine them in communities to find out what works, craft policies and products to help good ideas reach scale, and develop partnerships to promote lasting change. We bring together community practice, public policy and private markets in new and effective ways to achieve greater economic impact. For more information, visit http://www.cfed.org.