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MarketScreener Homepage  >  Equities  >  Nyse  >  CIT Group Inc.    CIT

CIT GROUP INC.

(CIT)
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CIT : Announces Grant to Urban League of San Diego to Enhance Digital Access During COVID-19

11/09/2020 | 12:01pm EST

PASADENA, Calif., Nov. 9, 2020 /PRNewswire/ -- CIT and its Pasadena-based banking subsidiary CIT Bank, N.A. today announced a grant to Urban League of San Diego County (ULSDC) to enhance digital access for underrepresented individuals in San Diego County during COVID-19.

The grant is awarded as part of The Federal Home Loan Bank of San Francisco (FHLBSF)'s 2020 AHEAD Program and is one of 97 grants provided this year by FHLBSF member financial institutions to nonprofits in Arizona, California and Nevada.

The AHEAD grant will support ULSDC in fully transitioning to a remote, virtual-based environment during COVID-19 and beyond to allow the nonprofit to continue to provide classes, meetings, counseling and other program services that assist underrepresented populations in San Diego County to achieve social and economic equality.

"We are extremely honored to be selected as a grant recipient of the 2020 AHEAD Program and are grateful for CIT's partnership and assistance in securing this grant," said Ray King, president and CEO, at Urban League San Diego County. "The grant allows us to serve more families and individuals during the pandemic and beyond through an array of programs and services that aim to empower communities by focusing on youth education, family support and employment."

"CIT is proud to support causes that empower our communities and advocate for organizations making a difference," said Steve Solk, president, Consumer Banking at CIT. "This grant to Urban League of San Diego County will allow them to continue to deliver crucial assistance programs and support services virtually, advancing digital access for the communities they serve at a time of increased need."

About ULSDC
Organized in 1953, the Urban League of San Diego County (ULSDC) is a community based, direct service, nonprofit 501(c)(3) and an affiliate of the National Urban League that focuses on empowering underserved communities. ULSDC works to achieve social and economic equality through advocacy, bridge building, programs, services, and research. ULSDC maintains a strong focus on policy, practice, and protest regarding socio-economic stability, youth education, health, and family support services through its programmatic services.

About CIT
CIT is a leading national bank focused on empowering businesses and personal savers with the financial agility to navigate their goals. CIT Group Inc. (NYSE: CIT) is a financial holding company with over a century of experience and operates a principal bank subsidiary, CIT Bank, N.A. (Member FDIC, Equal Housing Lender). The company's commercial banking segment includes commercial financing, community association banking, middle market banking, equipment and vendor financing, factoring, railcar financing, treasury and payments services, and capital markets and asset management. CIT's consumer banking segment includes a national direct bank and regional branch network. Discover more at cit.com/about.

MEDIA RELATIONS:
Lexa Tutela
212-461-5305
Alexandra.Tutela@cit.com

Cision
View original content to download multimedia:http://www.prnewswire.com/news-releases/cit-announces-grant-to-urban-league-of-san-diego-to-enhance-digital-access-during-covid-19-301168778.html

SOURCE CIT Group Inc.


© PRNewswire 2020
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