Citigroup & One Economy Announce Saving And Investing Bilingual Financial Literacy Tool.

In recognition of Financial Literacy Month, Citigroup, the Citigroup Foundation and national nonprofit One Economy Corporation announced Saving and Investing, an industry-leading online financial literacy tool that teaches consumers about important financial matters, including homeownership, saving for college, and investing for retirement. The educational material, offered in both English and Spanish, is the first of its kind to target an online bilingual population.

This interactive content can be found on the Money section of the Beehive (www.thebeehive.org), One Economy’s national bilingual consumer portal for low- to moderate-income users. Saving and Investing contains dynamic tools, tips and information in English and Spanish to help bilingual users take action to build wealth and assets.

Saving and Investing includes five pillars of content: homeownership, saving, investing, college savings, and retirement. Flash-based tools and animation enable Beehive users to better understand complex financial concepts, including home equity, investing in the stock market, compound interest, first-time home buying and saving money on taxes. In addition, real-life stories illustrate the triumphs of people who have successfully achieved these goals.

“In today’s complex financial world, being financially literate is a critical life skill,” said Dara Duguay, Director of Citigroup’s Office of Financial Education. “Citigroup is committed to Financial Education and to improving the communities where we live and work. Since 2004, Citigroup and the Citigroup Foundation have provided $53 million to Financial Education in the United States and around the world.

Financial literacy is crucial to financial independence. The personal savings rate in the United States last year was 0.5%, the lowest since the Great Depression, according to CBSNews. Approximately 10 million households are “unbanked” , and one in five American households owes more than it owns .

“We are proud to work with Citigroup and the Citigroup Foundation on this important financial literacy tool that will reach both Hispanic and non-Hispanic users and enable them to achieve their personal financial goals,” says Ben Hecht, One Economy President. “Our joint initiative will directly result in people owning homes, retiring with dignity and paying for their children’s education.”