Citi Australia, part of Citigroup, has formed a partnership with YWCA NSW and the NSW Premier’s Department Office for Women, to deliver a financial education programme for teenage girls.
Funded by the U.S.-based Citi Foundation, a grant of A$560,000 will support “Girl$avvy” – a unique education program that challenges the way teenage girls think about their financial security. This grant brings the Citigroup Foundation’s support for Australian financial education over the past four years to USD1.7 million.
“Girl$avvy” is a series of one-day personal finance workshops that will run over the next two years in New South Wales for up to 5,000 young women aged 15-17 years. Initiated by the NSW Premier’s Department Office for Women in 2002, “Girl$avvy” introduces students to women from a range of professional and business backgrounds and challenges their beliefs about work and financial independence. The Office for Women will continue its involvement and support for the program.
“Through YWCA NSW’s work with communities it is clear that many young women struggle with the notion of financial independence and some continue to believe that either a parent or a partner will provide for them throughout their lives,” says Jocelyn Murphy, the Executive Director of, YWCA NSW. “‘Girl$avvy’ challenges this belief and encourages young women to take responsibility for their economic future. This education initiative economically empowers young women to think proactively about lifestyle aspirations, career opportunities and the benefits of good financial planning. Strong female role models are critical to the success of ‘Girl$avvy’ because they expose students to a broad range of professions and industries they may not have previously considered. Mentors also provide young women with a realistic picture of life beyond school.”
Mentors are drawn from a range of professional backgrounds including engineering, policing, law, science, financial services, public relations and small business. Citi will commit up to 50 mentors from its Sydney workforce. Mentors lead students through a series of activities that touch on career choices, income, the benefits of good financial planning and entrepreneurial skills.
“Citi is committed to supporting personal finance programs that assist young people to make sound financial decisions because we know that education is the key to improving people’s relationship with money,” adds Les Matheson, the Citi Country Officer. “Citi is excited to be involved with this program. Within our own workforce we have implemented a number of mentoring, professional development and recruitment initiatives to improve recruitment and retention of female employees in the financial services industry. ‘Girl$avvy’ is an extension of our focus on workplace diversity because it encourages young women to consider a range of occupations including non-traditional career paths.”