HUGE WIN! Citizens Bank to cut financial ties with CoreCivic and GEO group
On Friday, July 17, Citizens Bank issued a statement that it plans to cut financial ties with CoreCivic and GEO group.
According to an AP story: "Citizens Bank said it plans to wind down its financial relationship with two private prison companies that have been government contractors under the Trump administration to help run immigration detention centers, bowing to public pressure from advocates and left-leaning city governments."
Upper Merion Indivisible has been protesting Citizens Bank’s financial support of CoreCivic and GEO since last September. At least once a month, come rain, snow, or ice, we’ve been at the Bryn Mawr branch with our energy and our signs. We were one of the very first groups to participate in this protest, along with Philadelphia Indivisible. Over the past year, these protests have grown to over 125 protests against Citizens Bank in 15 states.
Recently, a Boston interfaith group started an institutional campaign and began withdrawing $1 million a month of investments in Citizens for multiple months, totaling $20 million lost to the bank. Then, a church group in Cleveland joined and withdrew $1.7 million. In the past month, Jersey City, NJ ($265 million) and Montclair, NJ ($64 million) withdrew all their city governments’ investments in Citizens Bank. These four groups alone total $351 million in lost investments for the bank. Our determination and dedication have helped our immigrant neighbors. This is a huge victory!!
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