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By Joshua Burd
The nonprofit partner of Community Investment Strategies Inc. has secured a $10,000 grant from Citizens Bank to provide financial literacy education to women in the company’s portfolio.
The affordable housing developer said the platform, the Community First Initiative, is a minority-, women-led organization focused on serving and empowering low-income individuals and families through housing and social services. The new grant from Citizens comes alongside $40,000 in other private and philanthropic funds that are allowing it to develop, facilitate and run its Making C.E.N.T.S. program, short for Championing Economic Navigation for Transformational Success.
The bank is providing the funds through its Citizens Helping Citizens Initiative.
“By partnering with CFI and Citizens’, CIS is able to fulfill its vision of providing quality affordable housing along with services and programs that empower and support its residents,” said Jeffrey Crum, Community Investment Strategies’ chief operating officer.
CIS added that, through interactive financial education programming, the Making C.E.N.T.S. program advances diversity and social equity within Monmouth and Union counties. The program will cater to women living in affordable housing and seek to address gender disparities by targeting a demographic vulnerable to financial hardship, with key program elements to include budgeting skills, banking and savings, mentorship impact and financial education.
That dovetails with a Citizens Helping Citizens Initiative that aims to focus on financial empowerment and workforce development, according to a news release. CFI will deploy the grant funds at the onset of the Making C.E.N.T.S. program, scheduled to begin in January.
“CIS is grateful for Citizens Bank’s meaningful support,” Crum said.
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