Citibank honors YWCA
Financial Empowerment Program participants

Citibank and the YWCA of Rochester and Monroe County honored more than 100 participants who completed the YWCA's Financial Empowerment Program at a May 29 presentation and reception.

Citibank has provided $1 million nationally, and more than $145,000 to support the YWCA program in Rochester. The Financial Empowerment Program is a seven-part financial education workshop series offered by the YWCA through the support of Citibank and volunteer instructors. It provides women with the education and resources necessary to achieve financial independence. The program addresses several important topics, including basic budgeting, debt management, credit counseling, purchasing a home, income protection, and saving for retirement.

Individual Development Accounts (IDAs) are a unique element of the program. IDAs are established for the participants who successfully complete the program to encourage systematic savings towards pre-established goals such as the purchasing of a home or starting a small business. The participant's deposits are matched two-to-one with funds from public and private donations. The accounts, which are administered by Citibank, allow participants to save for their goal over a three-year timeframe.

The Financial Empowerment Program is administered by the Women's Resource Center of the YWCA of Rochester and Monroe County.