SOURCE: Neighborworks America

February 25, 2009 10:16 ET

NeighborWorks® Center for Foreclosure Solutions Receives Donation From Smith Barney

NEW YORK, NY--(Marketwire - February 25, 2009) - NeighborWorks Center for Foreclosure Solutions announced today it has recently received a donation in the amount of $50,000 from Smith Barney. This contribution was awarded to help support foreclosure intervention and prevention strategies.

The NeighborWorks Center for Foreclosure Solutions (The Center), a major program initiative of NeighborWorks America, was launched in 2005. The Center was created to preserve homeownership in the face of rising foreclosure rates and has four areas of focus:

1) Building the Capacity of local foreclosure efforts
2) Providing Foreclosure Intervention Counseling Training
3) Consumer Outreach & Public Awareness, and
4) Advancing Foreclosure Prevention Research.

Kenneth D. Wade, CEO of NeighborWorks America, commented, "We are delighted that Smith Barney is supporting the Center's efforts to help families avoid foreclosure. The Center's work has already made a difference for thousands of struggling homeowners and the substantial contribution from Smith Barney will enable many more families to find a solution that works best for them."

Jim Tracy, Director of Citi's Global Wealth Management Business Development, presented the check recently in New York to Mr. Wade at NeighborWorks. "We are proud of the donation Smith Barney has made to help NeighborWorks make a difference in local communities," he commented. "Now more than ever it is important to help preserve homeownership in the face of rising foreclosure rates."

Smith Barney is a division of Citigroup Global Markets Inc. (Member SIPC). It is a leading provider of comprehensive financial planning and advisory services to high net worth investors, institutions, corporations and private businesses, governments and foundations. Smith Barney is a part of Citi Global Wealth Management, which has approximately 13,765 financial advisors and private bankers in about 800 offices. Smith Barney offers a full suite of investment services, including asset allocation, private investments and lending services, hedge funds, cash and portfolio management, as well as retirement, education and estate planning. Smith Barney currently has more than $1.1 trillion in client assets.

Citi, the leading global financial services company, is affiliated with millions of clients, corporations, governments and institutional investors in more than 100 countries and offers a broad range of financial products, advice and services, including consumer banking and finance, corporate and investment banking, securities brokerage, wealth management and alternative investments. Citi is also recognized as a leader in corporate responsibility, sustainable growth, financial education and microfinance and it is a component of the Dow Jones Sustainability Index and FTSE4Good Index. Additional information may be found at www.citigroup.com or www.citi.com.

About NeighborWorks® America

NeighborWorks America creates opportunities for people to improve their lives and strengthen their communities by providing access to homeownership and to safe and affordable rental housing. Since 1991, we have assisted nearly 1.2 million low- to moderate-income families with their housing needs. Much of our success is achieved through our support of the NeighborWorks network -- more than 230 community development organizations working in more than 4,400 urban, suburban and rural communities in all 50 states, the District of Columbia and Puerto Rico. In the last five years, NeighborWorks organizations have generated more than $15 billion in reinvestment in these communities. NeighborWorks America is the nation's leading trainer of community development and affordable housing professionals. www.nw.org.

Contact Information

  • Press Contact:
    Smith Barney:
    Allie Reilly
    212-783-2788

    NeighborWorks:
    Doug Robinson
    202 220 2360