Citizens Bank’s newest consumer loan offering is targeting families that want to adopt children, the bank announced recently.
According to the National Adoption Foundation (NAF), the average cost of adoption is $30,000. Citizens launched its loan program in March and has since made more than 6,000 loans totaling more than $200,000. Citizens partnered with the NAF in July, and for every loan made, the bank has promised a donation of least $100 to support the organization, which focuses specifically on the financial needs of adoptive families.
“Many wonderful potential parents face financial barriers due to the high cost of adoption, so I’m especially excited about this new partnership, which helps our customers pursue their dreams,” Brad Conner, Citizens’ vice chairman of consumer banking, said in a statement. “As an adoptive parent myself, this partnership means a lot to me personally. I’m happy that Citizens can play a role in future adoptions.”
Citizens Bank said in its statement that it had also been recognized by the Dave Thomas Foundation for its adoption support. The bank has been named to the Foundation’s Adoption as a Top 100 Adoption Friendly Workplace for several years. Citizens’ program includes both financial assistance and time off – up to $23,400 toward eligible adoption expenses and fees and up to one week of paid leave per adoption.




