Citizens Bank Announces $5 Million to Help Communities and Small Businesses Impacted by COVID-19

HYANNIS – Citizens Bank has announced a new $5 million commitment to support communities and businesses dealing with impacts of the coronavirus pandemic.

The resources will back both a number of broad-based community support initiatives across the Citizens service area as well as specialized programs focused on providing aid to small businesses and their workforce.

Citizens Bank has a number of locations throughout Cape Cod.  

“Responding to the needs of the communities we serve is at the heart of Citizens Credo and we stand ready to help our neighbors during this unprecedented time,” said Bruce Van Saun, Chairman and Chief Executive Officer of the Citizens Financial Group.

“Through this initiative we will focus on addressing immediate community needs, while providing aid to small businesses so they can get back on their feet more quickly.”

The banks COVID-19 support effort will have two components.

The first component is a “Community Support Relief” program that will provide charitable contributions to community partners to assist with wider relief efforts.

The company plans to make charitable contributions to broad-based relief funds throughout the Commonwealth of Massachusetts.

The second component is a “Small Business Relief and Recovery” program that will provide charitable contributions and other assistance aimed at helping small businesses restore full operations, rehire and recover in the months to come.

In addition to the resources for small business relief, Citizens will implement several initiatives that will enable customers and colleagues to lend their support.

These include enabling users of the bank’s cash-back credit cards to designate all or part of their cash rewards to the relief and recovery fund.

Further, Citizens will create a mechanism through which customers, colleagues and others can donate to support the effort.

In addition to providing new funding, Citizens has removed programmatic restrictions on 2020 funding to non-profit partners to allow support to be diverted to the areas of greatest need.

“While the short term impacts of the coronavirus pandemic will present unique challenges for all of us, it is important that banks step up and play a critical role in helping provide economic stability to our communities,” said Van Saun.

“Citizens looks forward to continuing to support our community partners and customers throughout this difficult time.”

For more information on the relief funds, visit Citizensbank.com.

About Luke Leitner

Luke Leitner grew up in Watertown Massachusetts and now lives in West Yarmouth on the Cape. He has been a part of the news team in the CapeCod.com News Center since the spring of 2019. He studied business communications at Western New England University.



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