Skip to content

Breaking the Poverty Cycle

Several banks have grant programs designed to help low income people pull themselves out of the poverty cycle.

Citibank is helping to fight the well-documented problems of low-income, sole supported households in the Washington, D. C. area. The bank presented $250,000 to Women and Families Financial Independence Initiative, a program that seeks to build independence for 10,000 low-income families with single heads of households. According to a 2003 study by the Women's Foundation, the help is greatly needed. The study found that 70 percent of women-headed families in Washington, D.C. are living in poverty. Citibank also is offering training on money management, savings, investing, and credit.

California Bank & Trust recently announced a $25,000 grant to One Economy Corporation, a national non-profit organization that seeks to be a catalyst for change by bringing technology into low-income households and small businesses. One Economy has built an online portal for low- and moderate-income individuals to get them information in areas such a money management, jobs, school, family, and health. It also has an Entrepreneur Center where people can go for advice on starting or improving a business.

Copyright © 2005 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 15, No. 1, 2/05

First published on 02/01/2005

Filed under: 
Filed under technology as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics