Hello, San Francisco!

Citi's partnership with San Francisco spans more than 100 years, starting in 1900 with Citi's support of the railway expansion in California. We went on to open our first office in San Francisco in the 1920s to help serve the city's rapidly growing population and expanding economy. As we launch the City Profiles, dedicated to highlighting Citi's history in some of our key U.S. markets, we speak with two San Francisco-based Citi leaders to get their perspectives on Citi's ongoing involvement with San Francisco.

What is your favorite milestone from Citi's history in San Francisco, and how do we continue to enable progress in the Bay Area today?

Brian: One milestone that I am very passionate about is the creation of Citi Ventures in 2010. Based in Palo Alto, Citi Ventures enables us to work hand-in-hand with the tech industry on projects and ventures that have far-reaching impacts and the ultimate potential to transform the financial services industry.

Another way that we are enabling progress for the Bay Area is through our support of affordable housing. Our work in this area began after the 1906 earthquake in San Francisco and continues to this day. In 2014 alone, we provided over $392 million in loans and investments for affordable housing projects in this area.

Vicki: The launch of Kindergarten to College (K2C) in 2010 was a key milestone in San Francisco. K2C is the first universal child savings account program in the United States and has become a model that cities across the country aim to replicate. Research has shown that a child with a savings account is up to seven times more likely to enroll in college than a child without an account. So, we partnered with the City and County of San Francisco, as well as the San Francisco Unified School District, to automatically enroll every new Kindergartener in a Citi savings account with a $50 deposit from the City. Families are offered matching contributions and incentives throughout the year. So far, account holders, mostly low- and moderate-income families, have saved more than $1.3 million of their own money. I still get a kick from knowing that each and every September, 4,500 San Francisco new kindergartners are beginning to save for college thanks to our partnership with the City.

What are some of the key opportunities facing clients and customers in your market?

Brian: Both on the consumer and institutional client sides, our customers are naturally going digital at a very rapid rate, and I think our strong involvement with the tech community in San Francisco and Silicon Valley enables us to really serve their needs. We have always had a presence in corporate tech banking, but now, more and more we are seeing a focus on the next generation, the emerging tech companies. Often we engage with clients when they are just developing their aspirations to expand and become global, and we are able to help facilitate their expansion by providing cash management and credit needs around the world.

On the consumer front, our road map includes the opening of smart branches in the Bay Area, as well as a continued focus on things such as mobile banking apps that allow our customers to fulfill their banking needs wherever they may be. We also provide financial services to the growing number of employees within the tech sector.

Vicki: Citi has always been committed to serving all San Franciscans and doing what we can to ensure our clients and San Francisco's diverse families and clients are financially resilient. Citi Community Capital's investments in affordable housing projects in places Hunters View and North Beach Place ensured that more residents have access to clean and safe places to live. Through Citi Inclusive Finance's development of K2C, the SFMade Campaign where Citi Community Development partnered with Citi's retail bank to showcase products made by San Francisco's small manufacturers in Citi branches, and innovative grants from the Citi Foundation to promote financial capability, we have helped to bolster household finances and strengthened the City's neighborhoods. San Francisco is a place where Citi has pulled together its resources and expertise to lift all San Franciscans and ensure everyone has the opportunity to contribute to the success of the city.

In working on the City Profiles project, did you learn anything surprising about the history of San Francisco and Citi's involvement there?

Brian: I was proud to learn of our involvement in the infrastructure, such as BART, that has helped the entire Bay Area thrive.

Vicki: The sheer breadth of important projects we have been involved in from financing the water system in 1929 to developing the nation's first universal child savings account program 91 years later.

Looking forward, what are you most excited about for Citi's future in San Francisco?

Brian: Going forward, I am very excited for Citi to continue operating in what I like to think of as a full-cycle of financial services support. Starting with instilling smart financial behaviors at a young age with programs like K2C, to providing support to youth and young adults as they begin their journey in the professional realm through our Pathways to Progress initiative, and then as consumers and ultimately as business clients, we are positioned to provide best-in-class product and services to Bay Area residents wherever they are in the journey.

Vicki: K2C showed what amazing things can be achieved through innovative public/private partnerships. Looking forward, we are committed to continuing to work closely with our municipal partners and San Francisco's fantastic community organizations, on the next initiatives that are going to have an impact on the lives of all San Franciscans.

Please visit the full San Francisco City Profile for more information.