Bank of America, Citigroup, the Principal Financial Group, and Wachovia are proud to announce their participation in the fifth annual Financial Services Roundtable's Community Build Day. In honor of this five-year anniversary, this year's theme is "50 Builds in 50 Days."
Locally, Bank of America, Citigroup, the Principal Financial Group, and Wachovia have partnered with The Financial Services Roundtable and Habitat for Humanity of New Castle County to build a home at 210 E. Lake Street in Middletown, DE.
As part of the partnership, each company is committing not only financial resources to support the build, but on both Tuesday, Aug. 8 and Thursday, Aug. 10, company associates will head out of the office and onto the build site to lend a hand in the construction of the new home. On Thursday, Aug. 10 at 11:30 a.m., they will be joined by the homeowners, Habitat volunteers, and honored guests including New Castle County Executive Chris Coons and New Castle County Council President Paul Clark, for a press conference and short ceremony.
The 201 E. Lake Street home is part of a 12-house subdivision under construction at Habitat for Humanity of New Castle County's Faith Way development; Habitat's largest multi-housing development built in Middletown to date.
"Community Build Day demonstrates to the public how the financial services industry works 365 days a year to improve the cities which they serve," said Steve Bartlett, President and CEO of The Financial Services Roundtable. "The member companies of the Roundtable are competitors in the marketplace, but this day shows our cooperation in the community."
The Financial Services Roundtable's Community Build Day is a physical manifestation of how companies like Bank of America, Citigroup, the Principal Financial Group, and Wachovia build their communities all year round. The Delaware build is focused on enriching the community by helping low-income families break the cycle of poverty through the stability and empowerment offered from owning a home. Homeownership programs strengthen communities by investing financial resources in a locality, causing a ripple effect to spread through a community helping to broaden tax bases, increase neighboring property values and stabilize the local workforce.
A total of 43 member companies of The Financial Services Roundtable have committed to help build/repair homes in 64 cities across the United States this August, as well as participate in other activities aimed at bettering the communities which our companies serve. National partners for the 2006 Community Build Day include Habitat for Humanity, NeighborWorks(R) America, Rebuilding Together, America's Promise, USA Freedom Corps, and the Points of Light Foundation.
This year marks the fifth annual Community Build Day. Stanley R. Ommen, President and CEO of State Farm Bank, is the 2006 Community Build Day Chairman. The National Co-Sponsors for the 2006 Community Build Day are: ACE Group, AEGON USA, American General Financial Services, Citigroup, Countrywide Financial Corporation, LaSalle Bank Corporation, New Century Financial Corporation, Raymond James, State Farm(R), Synovus, UnumProvident, U.S. Bancorp, Wachovia, Washington Mutual and Wells Fargo.
About Bank of America
Bank of America (NYSE:BAC) is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial products and services. The company's Global Corporate and Investment Banking group (GCIB) focuses on companies with annual revenues of more than $2.5 million; middle-market and large corporations; institutional investors; financial institutions; and government entities. GCIB provides innovative services in M&A, equity and debt capital raising, lending, trading, risk management, treasury management and research. Bank of America serves clients in 175 countries and has relationships with 98 percent of the U.S. Fortune 500 companies and 79 percent of the Global Fortune 500. Many of the bank's services to corporate and institutional clients are provided through its U.S. and UK subsidiaries, Banc of America Securities LLC and Banc of America Securities Limited. For additional information, visit http://www.bankofamerica.com/.
Citigroup (NYSE:C), the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney and Banamex. Additional information may be found at www.citigroup.com.
About the Principal Financial Group
The Principal Financial Group(R) (The Principal (R))(1) is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance, and banking through its diverse family of financial services companies. A member of the Fortune 500, the Principal Financial Group has $206.0 billion in assets under management(2) and serves some 16.3 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.
Charlotte-based Wachovia Corporation (NYSE:WB) is one of the nation's largest diversified financial services companies, providing 13.4 million household and business relationships with a broad range of banking, asset management, wealth management and corporate and investment banking products and services. Wachovia operates as Wachovia Bank through 3,159 offices in 16 states from Connecticut to Florida and west to Texas, and, until merger integration activity is completed, will continue to be known as Western Financial Bank in California. Two core businesses operate under the Wachovia Securities brand name: retail brokerage in 49 states and in Latin America, and corporate and investment banking in selected industries nationwide. Globally, Wachovia serves clients through more than 40 international offices. Online banking is available at wachovia.com; online brokerage products and services at wachoviasec.com, and investment products and services at evergreeninvestments.com. Wachovia had assets of $541.8 billion, market capitalization of $90.2 billion and stockholders' equity of $49.8 billion at March 31, 2006.
About The Financial Services Roundtable
The Financial Services Roundtable represents 100 of the largest integrated financial services companies providing banking, insurance, and investment products and services to the American consumer. In our latest Community Involvement Survey, financial services companies donated or raised nearly $1.21 billion in direct charitable contributions, and employees donated 5.2 million volunteer hours, the equivalent of a workforce of 2,600 people.
About Habitat for Humanity of New Castle County
Habitat for Humanity of New Castle County has been building affordable housing with low-income families since 1986. Since our inception, we have built 90 homes in areas throughout New Castle County including the City of Wilmington, Middletown, Newark, New Castle, and St. Georges. As a local affiliate of Habitat for Humanity International, we are the fifth-largest affiliate from Delaware to Maine (in terms of home construction). Through our unique approach, we help low-income families break their cycle of poverty through the stability and empowerment of homeownership. This year, HFHNCC will be celebrating 20 years of building affordable housing in our community, by building 21 homes with local families in need, reaching our vision to become a "Community Builder." (A Community Builder is a Habitat for Humanity International term for an affiliate that builds 21+ homes per year).
(1) "The Principal Financial Group" and "The Principal" are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.
(2) As of June 30, 2006