More than $11.5 Million Raised Since November to Help Create and
Retain Nearly 4,000 Jobs Across America
Demonstrating its continued commitment to help end the jobs crisis in
America, Starbucks Coffee Company (NASDAQ: SBUX) today announced the
launch of the Indivisible collection. The collection includes
Indivisible Blend™ Coffee and two new products to support Create Jobs
for USA, an innovative program enabling Americans to unite in helping
Americans get back to work. With each purchase from the Indivisible
collection, Starbucks will make a donation to Opportunity Finance
Network® (OFN) for the Create Jobs for USA Fund to help create and
retain jobs across the country.
Starbucks(R) Indivisible Blend(TM) coffee is proudly blended, roasted and packaged in the U.S. For each purchase of a one pound bag of Indivisible Blend(TM) coffee, Starbucks will donate $5 to the Create Jobs for USA Fund. For each cup of brewed coffee purchased Starbucks will make a five cent donation to the Create Jobs for USA Fund. (Photo: Business Wire)
Citi Community Development and the Citi Foundation are making a $1
million donation to the Create Jobs for USA Fund. Citi (NYSE: C) is also
adding the Create Jobs for USA Fund as a featured charitable fund on the
Citi ThankYou® Rewards website, encouraging members of Citi’s loyalty
program to redeem their ThankYou® Points to make a donation to the
initiative.1 Additionally, on Saturday, June 16, nearly
15,000 Citi employees across the United States will wear Indivisible
wristbands during volunteer service taking place as part of the
company’s annual Global Community Day.
The support from Citi builds on donations to date from the Starbucks
Foundation, like-minded companies, customers, and concerned citizens,
bringing the total raised to more than $11.5 million. Because community
lenders are able to leverage this capital to secure additional financing
– on average, at seven times the donation amount – this money will help
create more than $80 million in loans to community businesses focused on
creating and sustaining jobs in underserved neighborhoods. Based on
conservative forecasting models developed by the Create Jobs for USA
Fund manager, Opportunity Finance Network (OFN), with input from
independent economists, this lending is expected to help create and
sustain nearly 4,000 jobs at a time when national unemployment has
remained above eight percent for the past three years.
“In these troubling economic times, we believe that we can all do our
part to help make a positive impact on the jobs crisis facing our
country. The Create Jobs for USA program is helping thousands of
Americans get back to work, and we thank Citi and the other like-minded
companies who have refused to be bystanders and instead opted to use
their success and scale for good,” said Starbucks chairman, president
and ceo Howard Schultz. “The Create Jobs for USA Fund is enabling
Americans to unite in helping Americans get back to work, and the
Indivisible collection provides several new ways for our customers to
show their support.”
"Citi has long supported community and small businesses by making
capital available and connecting business owners to opportunities so
they can launch and expand new enterprises throughout the United
States,” said Citi CEO Vikram Pandit. “As we mark our 200th anniversary
this week, our support for the Create Jobs for USA Fund reinforces our
commitment to Responsible Finance, one of our company's core principles,
and complements Citi's efforts to help small businesses grow, hire and
serve the real economy.”
The donations to the Create Jobs for USA Fund are already going to work
in communities across the country. Read about some of the Create Jobs
for USA loan recipients and find out how to get involved at www.createjobsforUSA.org.
People can also donate to the program at nearly 7,000 company-operated
Starbucks stores in the U.S., or by texting “JOBS” to 80888 to donate
$5. Donations by text will not receive a wristband, and a 50 cent
transaction fee will be deducted.
Introducing the Indivisible Collection
To give customers even more opportunities to demonstrate their support,
Starbucks is introducing the Indivisible collection which is available
at participating Starbucks stores in the U.S. and at www.StarbucksStore.com
for a limited time, starting June 12 through July 9. All products are
made or roasted in the USA and feature the Indivisible name as a symbol
of Americans uniting to help Americans get back to work. For each
product purchased from the Indivisible collection, Starbucks will make a
donation to the Create Jobs for USA Fund.
-
Indivisible Blend™ 1lb Bag Whole Bean Coffee ($14.95, $5
donation): Indivisible Blend™ is a Starbucks® Blonde Roast coffee made
from a blend of washed Kenya and Ethiopia coffees. Delicious served
hot or iced, the coffee features a vivid, crisp acidity. All Starbucks
whole bean coffee sold in the U.S., including the new Indivisible
Blend™, is proudly blended, roasted and packaged in the U.S. and the
back of each bag of Indivisible Blend™ features the name of the city
in which the coffee was roasted. Indivisible Blend™ Whole Bean Coffee
will be available starting June 12 while supplies last.
-
Indivisible Blend™ Brewed Coffee (5 cent donation per cup): Starting
June 11 and running through July 8, Indivisible Blend™ will be the
featured Starbucks® Blonde Roast brewed coffee in participating
Starbucks stores in the U.S. For each cup purchased, Starbucks will
make a five cent donation to the Create Jobs for USA Fund.
-
Indivisible Ceramic Mug ($9.95, $2 donation): The 12
ounce Indivisible ceramic mug was created just for Starbucks by
artisans at the American Mug & Stein factory in East Liverpool, Ohio
using raw materials from Tennessee, Ohio, Florida and Georgia. Made
from white ceramic, the mug features a metal “Indivisible” plate
affixed to the front. To view a short video showcasing the American
Mug & Stein factory and the positive impact the Indivisible ceramic
mug has had on its employees, visit starbucks.com.
Or, to see the full story, visit youtube.com/starbucks. The
Indivisible mug will be available starting June 12 while supplies last.
-
Indivisible Acrylic Art Tumbler ($11.95, $2 donation): Made
from 35 percent recycled material, this 16 ounce tumbler features a
red, white and blue graphic design with the words
“Visibly Indivisible.” The tumbler was manufactured in Chicago and
will be available starting June 12 while supplies last.
In addition to the above Indivisible products, select Starbucks stores
will also feature the critically-acclaimed book We Can All Do Better by
former U.S. Senator Bill Bradley. This timely and important book lays
out Bradley’s passionate and powerful review of the state of the nation,
and presents solutions around issues including job creation. Bradley is
an 18-year New Jersey Senator, financial and investment adviser, Olympic
and NBA athlete, national radio host and bestselling author. The book
retails for $24.99 but will sell for $19.99 at select Starbucks stores,
and for each purchase made, publisher Perseus Books Group will make a $5
donation to OFN for the Create Jobs for USA Fund.
Starbucks stores continue to offer the red, white and blue Indivisible
wristband. Donors who contribute $5 or more to the Create Jobs for USA
Fund at U.S. company-operated Starbucks stores or online at www.createjobsforUSA.org
will receive the wristband to serve as a symbol of their support. More
than 650,000 wristbands have been distributed to concerned citizens
across the country so far.
Create Jobs for USA Results
Starbucks and OFN teamed up to launch the Create Jobs for USA Fund in
November 2011 to help address the jobs crisis. Contributions to the
Create Jobs for USA Fund are awarded as capital grants to help create
and sustain jobs in underserved communities throughout America. OFN, a
nationwide network of 195 Community Development Financial Institutions
(CDFIs), is overseeing the Create Jobs Fund to provide financing to
CDFIs so they can provide loans to community businesses —including small
businesses, microenterprises, nonprofit organizations, commercial real
estate developers, and affordable housing developers.
The money raised for the Create Jobs for USA Fund is already helping to
create and sustain jobs through loans to these community businesses
during a time with alarming unemployment. The program has already made a
difference in helping to jumpstart the economy by:
• Raising more than $11.5 million in donations, which in turn translates
into approximately $80 million in financing for community businesses;
• Helping to support more than 60 CDFIs who have already made loans in
44 states as of March 31, 2012, with the goal of extending to all 50
states by the end of this year;
• Helping create and retain an estimated 4,000 American jobs in the U.S.;
• Distributing more than 650,000 “Indivisible” wristbands, a visible
demonstration of Americans uniting to help Americans.
Small business owners interested in learning more or applying for a loan
should visit www.opportunityfinance.net/findacdfi.
About Starbucks Coffee Company
Since 1971, Starbucks Coffee Company has been committed to ethically
sourcing and roasting the highest-quality Arabica coffee in the
world. Today, with stores around the globe, the company is the premier
roaster and retailer of specialty coffee in the world. Through our
unwavering commitment to excellence and our guiding principles, we bring
the unique Starbucks Experience to life for every customer
through every cup. To share in the experience, please visit us in our
stores or online at www.starbucks.com.
Photos/Multimedia Gallery Available: http://news.starbucks.com/multimedia/
About Opportunity Finance Network
Opportunity Finance Network (OFN) is the national network of Community
Development Financial Institutions (CDFIs)—private financial
institutions that are 100 percent dedicated to delivering responsible,
affordable lending to help low-income, low-wealth, and other
disadvantaged people and communities join the economic mainstream. More
information is available at: www.opportunityfinance.net
About Citi
Citi, the leading global bank, has approximately 200 million customer
accounts and does business in more than 160 countries and jurisdictions.
Citi provides consumers, corporations, governments and institutions with
a broad range of financial products and services, including consumer
banking and credit, corporate and investment banking, securities
brokerage, transaction services, and wealth management.
Additional information may be found at www.citigroup.com
| Twitter: @Citi | YouTube: www.youtube.com/citi
| Blog: http://new.citi.com
| Facebook: www.facebook.com/citi
| LinkedIn: www.linkedin.com/company/citi
About the Citi Foundation
The Citi Foundation is committed to the economic empowerment and
financial inclusion of low- to moderate-income individuals and families
in the communities where we work so that they can improve their standard
of living. Globally, the Citi Foundation targets its strategic giving to
priority focus areas: Microfinance, Enterprise Development, College
Success, and Financial Capability and Asset Building. In the United
States, the Citi Foundation also supports Neighborhood Revitalization
programs. The Citi Foundation works with its partners in Microfinance,
Enterprise Development, and Neighborhood Revitalization to support
environmental programs and innovations. Additional information can be
found at www.citifoundation.com.
About Citi Community Development
Citi Community Development (CCD) is leading Citi’s commitment to achieve
economic empowerment and growth for underserved individuals, families
and communities by expanding access to financial products and services,
and building sustainable business solutions and innovative partnerships.
Our focus areas include: commercial and philanthropic funding;
innovative financial products and services; and collaborations with
institutions that expand access to financial products and services for
low-income and underserved communities. For more information, please
visit www.citigroup.com/community.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50307547〈en
1 Effective June 15, 2012
