Citizens Financial Group pays customers
for helping the environment
Green$ense is a first-of-its-kind program that rewards customers with cash for reducing paper-based payment transactions
BURLINGTON, V.T. - (October 7, 2008) Citizens Financial Group today announced its Citizens Bank and Charter One customers will earn money for helping the environment by reducing paper through an industry-first incentive program that pays customers cash for making electronic-banking payment transactions.
"At Citizens, we are committed to offering customers products and services that make a meaningful difference in their everyday lives," said Theresa McLaughlin, Group Executive Vice President and Chief Marketing Officer at Citizens Financial Group. "With Green$ense, we pay customers for changing their habits in a manner that not only makes banking more convenient and their lives more manageable, but also is beneficial for the environment. We are pleased to offer this first-of-its-kind program to our customers, and proud of the impact it will have on the environment."
Now available to new and existing Citizens Bank and Charter One retail customers, Green$ense rewards customers $0.10 for each electronic payment they make, up to $10 per month and $120 per year. Unlike other incentive programs, Green$ense deposits cash directly into a customer's checking account on a monthly basis, providing greater savings and spending flexibility. And, rather than limiting cash payouts to debit card transactions, customers enrolled in Green$ense earn money for debit card purchases (signature and PIN), online bill payments and recurring payments, making it the most robust program of its kind in the industry.
Enrollment in Green$ense is free for all Citizens Bank and Charter One customers with a checking account, including Green Checking, the bank's free checking product. There are no minimum balance requirements and no hidden fees. As an added perk, customers who enroll in the program will receive an industry-first Green$ense MasterCard debit card made from recycled plastic. Customers also will be enrolled automatically in online banking with free Bill Pay and receive paperless statements.
According to the U.S. Postal Service, the average U.S. family receives approximately 19 bills and statements and makes seven payments in paper per month. By eliminating these paper statements and processing these transactions electronically, the average family can save about seven pounds of paper, 63 gallons of water and 24 square feet of forest a year according to Cooler, Inc. Citizens and Charter One customers can calculate the individual effect they will have on the environment by reducing their paper-based transactions with a special online calculator available at the Citizens and Charter One Web sites.
Customers who enroll in Green$ense will automatically receive their banking statements electronically. Using a conservative enrollment estimate, Citizens Financial Group expects the program to save 700,000 pounds of paper and nearly seven million gallons of water in the first year of the program alone.
Each month, customers enrolled in Green$ense will receive an e-mail from Citizens or Charter One providing tips for a greener lifestyle and a summary of the impact the program has had on the environment.
CFG is promoting Green$ense to customers throughout its retail footprint with a multi-media campaign that includes broadcast and online advertising. Green$ense promotional items have been printed on recycled materials.
Customers can begin the enrollment process online at www.citizensbank.com or www.charteronebank.com, by calling the bank's 24-hour, live customer service line at 1-888-910-4100 (Citizens) or 1-877-242-7837 (Charter One), or by visiting any Citizens Bank or Charter One branch. All customers, existing and new, will then be required to "e-sign" through online banking to confirm enrollment.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is a $161 billion commercial bank holding company. It is headquartered in Providence, R.I., and, through its subsidiaries, has more than 1,600 branches, more than 3,500 ATMs and more than 24,000 employees. Its two bank subsidiaries are RBS Citizens, N.A. and Citizens Bank of Pennsylvania. They operate a 13-state branch network under the Citizens Bank brand in Connecticut, Delaware, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont, and the Charter One brand in Illinois, Indiana, Michigan and Ohio. CFG has non-branch retail and commercial offices in about 40 states. It is one of the 10 largest commercial banking companies in the United States ranked by assets and deposits. CFG is owned by RBS (The Royal Bank of Scotland Group plc). CFG's Web site is citizensbank.com.