Citigroup announced today that it will launch a new financial literacy program in Okinawa, “Life Skills and Money Management for Young Parents,” in November 2016.
The program comprises a series of learning sessions designed to provide young parents in Okinawa, especially single mothers, who often face financial difficulties, with information and tools to help improve their living conditions. The program will be run in cooperation with the National Institute on Consumer Education and the Okinawa Single Parents and Children's Welfare Association and held in Naha City and Uruma City from November 2016 to March 2017.
Two learning sessions will be held in each city. The Naha program will cater for 50-60 people, with sessions to be held in November and December. The Uruma program will cater for about 50 people, with both sessions to be held in February 2017. Childcare services will be provided at both locations and participation and textbooks will be free of charge. Citi will fund the entire program.
The program will cover a wide range of money management and life planning topics, including expenditure management, saving, household planning, and bill payment management. It will also provide information on social insurance, public assistance programs, and other social safety nets. After completing the program, participants will be better equipped with life skills necessary to manage difficult financial situations and improve their living conditions. The sessions will be taught by local financial planners who have a good understanding of the issues and realities in Okinawa.
Until 2015, Citi provided a financial education program for elderly women in major cities across Japan in cooperation with the National Institute on Consumer Education. This year, Citi has shifted its focus to Okinawa, an island prefecture that has high divorce and poverty rates.
Citi opened a branch in Yokohama in 1902 and has become a well-recognized financial institution in Japan. Citi has established deep ties with the Okinawan community since commencing operations in Naha in 1999. Parts of its financial businesses, including Operations and Technology, are run out of Okinawa. Citi intends to further strengthen its presence in Okinawa and will continue to actively recruit local residents.
As a leading global bank with operations in more than 160 countries and jurisdictions, Citi is strongly committed to promoting financial literacy. In Okinawa, in addition to this program, Citi is sponsoring a "Financial Markets and Systems" course at the University of the Ryukyus during the 2016 academic year. All 15 classes will be taught by senior members of Citi in Japan.