RBS 2009 Annual Report Download - page 37

35RBS Group Annual Report and Accounts 2009
Divisional review
US Retail & Commercial
Did you know?
$6.5 million
Our Green$ense programme
rewarded retail customers
with more than $6.5 million
We took a number of steps to reward our customers’ loyalty and to
give them incentives to spend more with us, while they reach their own
savings goals. HomeBuyer Savings, College Saver and GoalTrack
Savings help customers to save for major events in their lives and their
families lives and to set their savings plans, and we give them bonuses
when they reach their goals.
These initiatives were part of the reason for our success in boosting
customer deposits during the year by 4%.
Our Green$ense programme rewarded retail customers with more
than $6.5 million during 2009 for helping the environment by choosing
electronic transactions that cut down the amount of paper we use. The
programme targets and rewards environmentally conscious customers
who receive 10 cents for each electronic transaction they make, up to
$120 per year. Green$ense includes automatic enrolment in e-Statements
and free Online Banking with Bill Pay.
We try our best to serve our customers and it is rewarding when other
people recognise our efforts. Informa Research Services, an independent
research firm, named our Green$ense and Everyday Points rewards
programmes best in class in its 2009 Retail Relationship and Reward
Programs Account Acquisition and Summary.
We have invested in our online banking service and that has paid off.
More than 3.7 million Citizens and Charter One customers were converted
to our upgraded online platform. It gives customers access to more
accounts and provides them with more information, including mobile alerts.
Customers can open new accounts, view pending transactions, pay bills
and transfer money between their various Citizen Bank and Charter One
accounts, as well as accounts with other financial institutions.
Of course, while online banking is important for some customers, others
like to come to a branch and speak to us. As a new twist in expanding
our network of Citizens and Charter One in-store branches, we opened
our first branch inside a Dunkin’ Donuts coffee and baked goods shop.
The new location in Bellingham, Massachusetts, is part of an extensive
in-store network with a variety of retail partners, mainly in supermarkets,
that includes more than 475 locations in 12 states.
Our Wealth Management division created a new programme for mass-
affluent clients and began piloting Premier Banking from Citizens Bank
in Massachusetts. This is an exclusive offering of products, services and
creative solutions for select clients who are looking for a more efficient
and convenient way to manage their funds and who prefer more dedicated
relationship management. Premier Banking is designed to help us take
advantage of a market that is large but which we have not penetrated
much in the past. To help us make progress, we’ve assigned a dedicated
team of relationship managers to target the mass-affluent market.
We regularly used the expertise and global reach of the RBS Group
to support our customers. Other RBS Group entities, including RBS
Securities, collaborated with Citizens Bank, Charter One and RBS
Citizens in a number of high-profile bond issues and loan syndications
during the year.
It is important to us and to our employees that we at Citizens are good
citizens in our communities. In 2009, we launched Energy$ense. It is a
multi-faceted initiative to help local non-profit organisations and Citizens
Bank and Charter One customers address heat, utility and other energy
costs. As part of the programme, Citizens provided more than $500,000
in energy assistance grants to homeless shelters and non-profit
organisations that offer home weatherproofing and utility payment
assistance to consumers. We also provide below market-rate loans to
eligible consumers who want to make their homes more energy efficient,
with a limited-time option to defer their first payment for 90 days. We also
provide consumers with information about how they can stay warm and
safe during the winter. Helpful tips include choosing electric heaters and
extension cords that are UL rated, insulating pipes and water heaters,
and installing carbon monoxide detectors and smoke alarms.
The Dave Thomas Foundation for Adoption honoured Citizens for the
third consecutive year as the Best Adoption-Friendly Workplace in the
financial services industry, as well as number two on the foundation’s top
100 US employers in 2009. Conceive is a national publication devoted to
pre-pregnancy health and fertility. It ranks companies that continue to
help employees build their families and it placed us as the top company
in offering family-building benefits.