Ladies and Gentlemen: 

Thank you for the opportunity to speak to you regarding the acquisition 

of Citibank. My name is Patricia O’Neill Galin and I am the Executive 

Director of These Our Treasures, Inc. in the Bronx. We are a 

not-for-profit agency serving youngsters and families for the past 

twenty five years. Twenty five years ago there were many more banks 

to choose from regarding loans, credit lines, etc. but -was the 

only banking institution who considered loans and a credit line for this 

Bronx organization. Citibank continues twenty five years later to be a 

major influence in the Bronx Community and more particularly has helped 

These Our Treasures, Inc. with our vision and mission to provide services 

to young disabled children and their families. As we have grown since 
-2- 

1973 with children and families and a budget of $288,000 to a budget of 

over 3 million dollars, Citibank has influenced our growth and has truly 

been a friend to TOTS. 

Testimony From: These Our Treasures, Inc. 

2778 Bruckner Blvd. 

Bronx, New York 10465 

Date: June 25, 1998 
Testimony before Federal Reserve Board 

Raymond C. Bowen 

President 

LaCuardia Community College/CUNY 

June 25.1998 

Good afternoon members of the Federal Reserve Board, ladies and 

gentlemen. My name is Raymond C. Bowen, president of LaCuardia 

Community College of the City University of New York. I am here today to 

speak on behalf of LaGuardia and its long-standing relationship with 

Citibank. 

LaGuardia Community College, the youngest institution in the City 

Uiriversity, enrolls about 33,000 students; 11,000 in degree programs and 

‘7 000 in non-credit programs. --1 Our student bodyA iT4 comprised of 

individuals who are 37 percent Hispanic, 20 percent JIlacK 15 percent 

White. 13 percent Asian. 2 percent Native American and 4 percent other; 

making us one of the most diverse higher educational institutions in 

America. Also noteworthy, is the fact that 66 percent of our students are 

women. About 75 percent of our new students reported family incomes 

under $30.000. Most are on their own and need to work in order to support 

themselv,es. Many of our students work while they are enrolled at 

LaGuardia: 16 percent part-time and 54 percent full-time. 

We have the fifth largest foreign student enrollment of any community 

college in the country, Our students are drawn from over 135 countries and 

speak S5 languages other than English. For several consecutive years. 
LaGuardia Community College has ranked among the top community 

colleges in the country in graduating minority students. In 1997, LaGuardia 

ranked fifth among the nation’s two-year institutions in awarding degrees to 

minorities. Priority initiatives for the college include cultural pluralism. 

economic development and international education. LaGuardia has also 

been recognized by the U.S. Department of Education as a model 

community college. both nationally and internationally. 

As a collaborative partnership between the College and the New York City 

Board of Education, LaGuardia hosts three model high schools on its 

campus: the Middle College High School creates unique educational 

opportunities for students who are at risk of dropping out, the International 

High School serves recent immigrants from numerous countries by offering 

a comprehensive secondary curriculum while developing students’ oral and 

written English language competence, and the Robert F. Wagner Institute for 

Arts and Technology, a New Visions school that takes the standard core 

curriculum and melds art and technology into every phase. 

From its inception, LaGuardia Community College has been a cooperative 

education institution based on the premise that learning should take place in 

a variety of settings. both inside and outside the classroom. The Cooperative 

(Co-op) Program is designed to help students determine their individual 

goals, explore various career options, apply classroom learning to real work 

situations. and strengthen interpersonal and technical skills. LaGuardia 

Community College has the largest cooperative education program of all 

two-year colleges. 
This collaboration will have a dynamic impact on the lives of the students 

and families that LaGuardia serves, and we look forward to many more new 

and positive ventures. Needless to say that we at the College are extremely 

excited to learn that Citicorp and Travelers Group have made a ten-year 

commitment of $1 15 billion to lending and investing in low and moderate 

income communities and small businesses. 

In addition to providing special pricing to low and moderate income 

customers interested in commercial and homeowner insurance coverage, I 

was particularly interested in the financial and technological literacy 

program proposed in this merger. As an urban educator, I also agree along 

with both Citicorp and Travelers Group, that consumers need financial and 

technical skills, as well as access to superior products and services, if they 

are to achieve financial well being. The opportunity for educators to join an 

advisory panel on financial literacy who will assist the bank in 

understanding the problems of this diverse population, and to ultimately 

develop effective solutions to meet their needs is critical and warranted. 

Citibank is no stranger to LaGuardia Community College. Whether 

supporting programs for our older adults on wellness and consumer 

education, or providing funding for our College for Children program, over 

the years. Citibank grants have helped all segments of our population. In our 

high schools, Citibank has been a responsive partner in addressing the need 

for SAT test preparation, in preparing our students to enter the world of 

finance. and in understanding the responsibilities associated with savings, 

credit and money management. Citibank has provided our students with 

hands on exposure to financial curricula that the College was unable to offer. 
They have also supported many cultural events through our “Academic 

Excellence Program.” Citibank has also been very involved in our “Talent 

Search Program” which is a comprehensive support services program 

designed to facilitate access to postsecondary institutions for low-income 

and first generation college students from Western Queens. 

I am proud to say that during this academic year, nineteen LaGuardia 

students have been hired as interns at various Citibank locations, including 

Court Square, Wall Street and Citicorp Center and five LaGuardia graduates 

have accepted permanent employment. Three students have been hired as 

interns in a partnership between Citibank and Cushman and Wakefield for 

this summer. In addition, a permanent annual donation of $3,000 has been 

given to LaGuardia’s Partners in Cooperative Education (PICE) Scholarship 

Fund. 

Citibank administrators and staff have worked hand in hand with LaGuardia 

Community College over the past twenty-five years as a mentor, sponsor. 

and a friend. On behalf of LaGuardia Community College, its faculty, staff, 

students and alumni, I proudly support the merger of Citibank and Travelers 

Group and look forward to the benefits this merger will bring to our many 

students and various programs who depend upon Citibank for program 

fUnding and support. 

Thank you for this opportunity to speak on behalf of LaGuardia Community 

College for the proposed merger between Citibank and the Travelers Group.