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RBS Citizens Financial Group Chairman and CEO Purchases ‘Social Innovation Shares’ to benefit Capital Good Fund

Andy Posner, Founder & Executive Director of Capital Good Fund, presents a framed stock certificate to Bruce Van Saun, Chairman and CEO of RBS Citizens Financial Group.
Andy Posner, Founder & Executive Director of Capital Good Fund, presents a framed stock certificate to Bruce Van Saun, Chairman and CEO of RBS Citizens Financial Group.

Bruce Van Saun, Chairman and CEO of RBS Citizens Financial Group, recently purchased ten ‘Social Innovation Shares’ to support the Capital Good Fund’s non-profit IPO (Immediate Public Opportunity) to end poverty. The goal of the fundraising and awareness initiative is to raise at least $100,000 for Capital Good Fund by using a unique model: for every $25 donated, the donor will receive one ‘Social Innovation Share.’ Each tax-deductible share entitles the donor to a vote at Capital Good Fund’s Annual Meeting in June to fill a seat on its board of directors. Shareholders will also have exclusive access to Capital Good Fund’s quarterly financial and impact reports, as well as shareholder-only conference calls.

 

The Capital Good Fund is a social change organization whose mission is to provide equitable financial services that create pathways out of poverty.  As a Community Development Financial Institution based in Providence, RI it offers families living in poverty one-on-one financial and health coaching, free tax preparation and personal loans of up to $2,000.

 

In addition to a $15,000 grant in Rhode Island in 2013, the Citizens Bank Foundation recently supported Capital Good Fund with a $15,000 grant to assist with the organization’s expansion to New London County, CT to provide tax preparation assistance to qualifying Eastern Connecticut residents through the IRS-sponsored Volunteer Income Tax Assistance (VITA) Program.



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