Citizens Bank has an extensive branch and ATM network across nine East Coast states. It offers a comprehensive range of checking and savings accounts, as well as other, higher-performance products. It's part of a $140-billion financial services group that employs more than 22,500 people.
Citizens Financial Group, which owns Citizens Bank along with Charter One and other subsidiaries, is a major player in American banking. On June 30, 2010, it could claim some impressive figures:
Nationally, the parent company ranked 12th for commercial bank assets, 13th for commercial bank deposits, fourth for in-store sites, ninth for the overall number of branches, and seventh for ATMs.
The parent company was founded in 1985, but Citizens Bank itself has a history dating back to 1871, when it was established in the heart of Providence, Rhode Island. Today, Citizens Bank operates in nine East Coast states.
As one would expect from a financial institution of this size, Citizens Bank offers a comprehensive range of products for personal and business banking, including checking accounts, savings accounts (including goal-oriented CollegeSaver and HomeBuyer Savings accounts), money market accounts, and CDs. Secure online banking is available.
The offerings associated with personal, small business, commercial, and investment banking vary from region to region, and the Citizens Bank web site invites visitors to enter their zip codes in order to discover the details of the accounts and services that are available to them.
One noteworthy product is Circle Gold Banking, which, the bank claims, "allows you to combine your money market account with your high interest savings and checking account--to make the most out of your finances."
Citizens Bank also offers home mortgages, home equity lines of credit, and student loans.
Citizens Bank is owned by RBS Americas, which is part of the Royal Bank of Scotland Group. This foreign ownership needn't concern customers as they enjoy precisely the same protections under the Federal Deposit Insurance Corporation's (FDIC's) deposit coverage program as those who choose other FDIC-insured banks.