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February 14, 2008

Citizens, CVS win housing assistance award

Homes for Working Families, a non-profit organization based in Washington, D.C., announced this week that Citizens Financial Group and CVS Caremark are recipients of the 2008 Pioneer Award for their employer-assisted housing programs.

The programs are designed to help employees purchase homes. Citizens provides employees with forgivable loans that can be used for down payments or closing costs. Since 2002, a Citizens spokesperson said, 3,589 employees - 821 in Rhode Island - have taken advantage of the program.

CVS Caremark began its program in 2005 in the Washington, D.C. market. It offers $500 grants for home purchases, with a matching $500 grant from American First Credit Union. Stephen Wing, director of workforce initiatives for CVS, said the company has expanded the program to other cities and expects it to go nationwide next year.

Posted by Andy Smith  at 12:43 PM | Permalink

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