CIT Group Inc. (CIT) recently announced that it has made a donation to A New Way of Life Reentry Project, which will help the organization convert a disused convent into safe housing for formerly incarcerated women in the Los Angeles area. The facility is expected to be completed in mid-August, addressing a community need identified by a customer of CIT’s Southern California retail bank OneWest Bank as part of the company’s Acts of Caring initiative.

CIT’s donation will help A New Way of Life Reentry Project renovate 4,500 square feet of living, communal and visiting space for women.

Since 1998, A New Way of Life has worked with women rebuilding their lives after incarceration, providing housing, case management, pro bono legal services, advocacy and leadership development. The organization has helped more than 1,200 women and children in their reentry homes and has provided pro bono legal services to thousands.

“When we acquired this convent, we immediately saw the potential that it could have as safe housing for women but knew that we needed some work to get there. CIT recognized its potential and provided the donation we needed to refurbish it and transform it into a beautiful, welcoming home for the women we support,” said Susan Burton, founder and president at A New Way of Life. “It will serve as a safe place for successful community reentry, family reunification and individual healing, and we are looking forward to the work that we will accomplish here.”

“As part of our Acts of Caring initiative, we’re completing ten projects that address significant needs in the communities of our customers,” said Heather Ellison, head of Retail Banking at CIT. “Our donation to A New Way of Life addresses one of these community needs by providing a space that will inspire and empower women in the LA-area to rebuild and take control of their lives after incarceration.”

CIT Acts of Caring

As part of CIT’s Acts of Caring program, the company invited customers to nominate a need in their hometown and share how the company could support those efforts on their behalf. Identified by a customer of CIT's Southern California retail bank division OneWest Bank, A New Way of Life is one of ten projects nationwide that was selected to receive a donation from CIT this summer.

The customer program follows a month-long social good project where CIT employees completed more than 3,000 Acts of Caring and dedicated nearly 5,000 hours in support of causes such as COVID-19 relief, addressing food insecurity, improving the environment and advancing social and economic justice.

Learn more about CIT’s Acts of Caring initiative at cit.com/ActsOfCaring.

About A New Way of Life

In 1998, Susan Burton founded A New Way of Life Reentry Project (ANWOL) to help women, families, and communities break the cycle and heal from the formidable experiences of incarceration. ANWOL advances multi-dimensional solutions to the effects of incarceration, including (1) providing housing and support to formerly incarcerated women for successful community reentry, family reunification, and individual healing; (2) working to restore the civil rights of formerly incarcerated people; and (3) empowering, organizing, and mobilizing formerly incarcerated people as advocates for social change and personal transformation.

A New Way of Life envisions a world where every person can make decisions for his/her own life, is accountable for those decisions, and is valued as a contributing member of the community. ANWOL has been a driving force in considerable policy reforms, including the ban-the-box ordinances and the Safe Neighborhoods and Schools Act (Proposition 47), a historic measure to reverse decades of antiquated approaches to community safety and justice, properly redirecting costly prison construction and management resources to education, reentry, and victims’ services.

About CIT

CIT is a leading national bank focused on empowering businesses and personal savers with the financial agility to navigate their goals. CIT Group Inc. (NYSE: CIT) is a financial holding company with over a century of experience and operates a principal bank subsidiary, CIT Bank, N.A. (Member FDIC, Equal Housing Lender). The company's commercial banking segment includes commercial financing, community association banking, middle market banking, equipment and vendor financing, factoring, railcar financing, treasury and payments services, and capital markets and asset management. CIT's consumer banking segment includes a national direct bank and regional branch network. Discover more at cit.com/about.

MEDIA RELATIONS: 
Lexa Tutela
212-461-5305
Alexandra.Tutela@cit.com

CIT

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About CIT

CIT is a division of First Citizens Bank, the largest family-controlled bank in the United States, continuing a unique legacy of strength, stability and long-term thinking that has spanned generations. Parent company, First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $100 billion in assets. The company's commercial banking segment brings a wide array of best-in-class lending, leasing and banking services to middle-market companies and small businesses from coast to coast. First Citizens also operates a nationwide direct bank and a network of more than 600 branches in 22 states, many in high-growth markets. Industry specialists bring a depth of expertise that helps businesses and individuals meet their specific goals at every stage of their financial journey. Discover more at cit.com/firstcitizens.

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