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City National Bank Celebrating 10-Year Anniversary of Its Literacy Program by Awarding $100,000 in Literacy Grants

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LOS ANGELES, Oct. 15, 2012 (GLOBE NEWSWIRE) -- City National Bank today announced that it is now accepting applications for grants to support literacy-based projects at public and private elementary, middle and high schools in five states. The bank also announced that with this being the 10th Anniversary of its Reading is The way up literacy program that it would be awarding $100,000 in literacy grants this year.

This is the eighth consecutive year that City National has been offering literacy grants to educators in its service area, which includes California, Nevada, New York, Tennessee and Georgia. Educators interested in applying for a literacy grant can access an online application by visiting www.readingisthewayup.org.

Any full-time teacher, librarian or administrator at schools in counties where City National has offices is eligible to apply. California counties include Alameda, Contra Costa, Los Angeles, Orange, Riverside, San Bernardino, San Diego, San Francisco, San Mateo, Santa Clara and Ventura. The counties in Nevada include Carson City, Clark, Douglas and Washoe, while the New York City area includes New York County. Educators in Atlanta, Georgia, and Nashville, Tennessee are also eligible to apply.

Approximately 200 grants totaling $100,000 will be awarded as part of City National's literacy program anniversary celebration. Grants will provide up to $500 for the recipients to create, augment or expand literacy projects that are judged to be creative and engaging, and that may help improve student achievement. Awards can also be used for books, videos, CDs, DVDs, computer software or hardware, or in other ways so long as the recipient shows that the project for which funds are sought will support literacy.

City National's Reading is The way up literacy program, which began in 2002, will award the grants. Applications will be accepted beginning October 15 and running through November 30, 2012, and awardees will be notified early next year. Grant funds must be expended by December 31, 2013.

"It's hard to believe that it's been ten years since our literacy program began, which we enhanced a few years later with the literacy grant component," said Carolyn Rodriguez, vice president and program administrator for City National. "We wanted to do something special for this year's grant program and we believe awarding $100,000 will be very meaningful to this year's grant recipients. Literacy is one of the key building blocks to educating our children, and with all of the cutbacks in state education budgets the need for this type of grant program is paramount for teachers today."

Applicants from the same school may apply individually or as part of a team. Each team may receive up to $1,500. Over the past seven years the bank has awarded over $500,000 in literacy grants.

Past grants have been used for everything from literacy computer programs to art/reading projects to field trips. In one case, an elementary school used the funds to make 20 Galileo telescopes to facilitate the use of reading, writing, math, engineering and science skills. In another, funds were used to create a Reading Fluency and Comprehension program through the use of technology.

For more information about the Reading is The way up Literacy Grants Program, visit www.readingisthewayup.org or send an e-mail to rwu@cnb.com.

About Reading is The way up®

Originally established to help improve the education of California's future leaders, City National in April 2002 launched the multi-faceted Reading is The way up initiative to restock the state's school library system. The program has since been expanded to include all areas where the bank has a presence.

To date, the bank has:

  • Donated more than 115,000 books to Nevada, California and New York and Nashville school libraries
  • Awarded more than $500,000 to teachers in elementary, middle and high schools for creative literacy projects
  • Awarded $10,000 to the Children's Defense Fund-California Urban Lights Freedom Schools program in support of after school enrichment curriculum
  • Received the 2005 President's Volunteer Service Award, the 2005 Corporate Philanthropy Award from the Los Angeles Public Library, the 2006 Corporate Award from the Getty House Foundation, and honored as the 2007 Corporate Visionary Partner by The Wonder of Reading, and the Hugh O'Brien Youth Leadership Corporate Citizen Award.

The bank also has created the Reading is The way up Fund, a 501(c)(3) administered by the California Community Foundation, as a funding resource to purchase books for school libraries in California. For more information, visit www.readingisthewayup.org.

About City National

City National Bank is the wholly owned subsidiary of City National Corporation (NYSE:CYN). It is backed by $24.8 billion in total assets, and provides banking, investment and trust services through 78 offices, including 16 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada, New York City, Nashville and Atlanta. The company and its investment affiliates manage or administer $58.0 billion in client investment assets, including $32.1 billion under direct management.

For more information about City National, visit the company's Website at cnb.com.

The City National Bank logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3143

CONTACT: Media Contacts: Paul Stowell, City National Bank, 213.673.7602 paul.stowell@cnb.com

Source:City National Bank