Citizens Bank, also known as Citizens Financial Group, Inc., is a subsidiary of The Royal Bank of Scotland Group (RBS, NYSE: RBS). With $126 billion in assets, Citizens Bank is the 21st largest financial institution in the United States. The bank's headquarters are in Providence, Rhode Island. Citizens offers competitive mortgage rates, auto loans, certificates of deposit (CDs), traditional savings and checking accounts, and more.
Citizens Bank's history dates back to 1828, when the High Street Bank was founded in Providence. The bank became Citizens Savings Bank in 1871, and it began expanding outside of RI in the 1980s. RBS purchased Citizens in 1988. Today, Citizens Bank operates over 1,300 banking branches and more than 3,500 ATMs in 12 states: Connecticut, Delaware, Illinois, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, and Vermont. Additionally, Citizens operates branches out of supermarkets such as Giant Eagle and Stop & Shop, along with one Dunkin' Donuts branch. The company operates commercial offices in 30 total states and employees 19,000 people.
As a large financial institution, Citizens Bank offers a comprehensive array of financial products in addition to its convenient branch locations. These include checking accounts, savings accounts, CDs, and money market accounts. Citizens savings offerings include Passbook Savings, Green Savings, and Circle Gold Savings; its CDs include the Breakable CD (one penalty free withdrawal) and the IRA CD; its money market accounts include Growth Savings, Personal Money Market, and Circle Gold Money Market.
Citizens Bank also originates loans, including home equity lines of credit (HELOCs), home equity loans (HELs), and home mortgages. In terms of mortgage loans, Citizens offers a 30 year fixed rate loan, along with a 5/1 adjustable rate mortgage (ARM) that resets annually after an initial five year period. The bank is one of the top lenders in its 12 state footprint.
Interested in learning more about Citizens Bank? Before you do, make sure to compare Citizens interest rates – mortgage, CDs, auto loans, and more – to other banks in our network.
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