Citigroup gives $2 million to Habitat hurricane effort
Citigroup donates $2 million to Habitat hurricane effort
NEW YORK, N.Y. (Sept. 29, 2005) – Citigroup and the Citigroup Foundation today announced a $2-million grant to Habitat for Humanity International in support of “Operation Home Delivery,” Habitat for Humanity’s effort to help provide housing for families displaced by Hurricane Katrina. The donation was announced at Humanity Plaza in Rockefeller Center where NBC News’ “Today” show is hosting the construction of Habitat homes for future partner families as part of Make a Difference Today.
“Citigroup has met the challenge set forth by our client, Tim Blixseth, this week and is helping people rebuild their lives and communities in the aftermath of the hurricane,” said Todd S. Thomson, chair and chief executive officer of Citigroup’s Global Wealth Management business. “Citigroup recognizes that every action – big or small – can make a difference. That's why we are putting additional muscle behind our money and helping Habitat for Humanity build the homes that are going to the families displaced by the hurricane,” Thomson added.
“Habitat is grateful for Citigroup's long financial support and is particularly proud of the hard work Citigroup volunteers have put into building Habitat homes for families. This donation illustrates Citigroup's recognition that home ownership plays a powerful role in gaining financial independence,” said Jonathan Reckford, chief executive officer of Habitat for Humanity International.
In addition, this week alone Citigroup has 200 volunteers building and helping to organize the build in Humanity Plaza. And many other Citigroup employees are in Rockefeller Center all week collecting donations for Habitat for Humanity International.
“Citigroup has a long history of supporting Habitat for Humanity International in grants, volunteerism and giving Habitat families access to zero interest loans,” said Kevin Kessinger, Citigroup’s chief operations & technology officer. “As a financial services company, we believe that owning a home provides an asset that will lead to a brighter future, and we realize the importance of ensuring that affordable mortgages are available.
Since 1998, Citigroup has invested more than $16.8 million in zero-interest-rate mortgage programs that allow Habitat partner families to pay zero interest on their mortgage loans. Citigroup is the largest single investor in this program,” Kessinger said.
Citigroup’s support of Habitat for Humanity dates back to 1999, and since that time the Citigroup Foundation has donated more than $13 million to help Habitat for Humanity International build houses in the U.S. and around the world. About 18,000 Citigroup volunteers have given roughly 200,000 hours to build houses for low-income families in the U.S. since 2000.
Citigroup (NYSE: C), 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. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney and Banamex. Additional information may be found at www.citigroup.com
About Habitat for Humanity International
Habitat for Humanity International, based in Americus, Ga., is an ecumenical Christian ministry that welcomes to its work all people dedicated to the cause of eliminating poverty housing. Since 1976, Habitat has built more than 200,000 houses in nearly 100 countries, providing simple, decent and affordable shelter for more than one million people. For more information, visit www.habitat.org.