CHICAGO, Aug. 10, 2020 /PRNewswire/ -- CIT Group Inc. (CIT) today announced that it has made a donation to the Musical Arts Institute (MAI) to fund a computer lab that will strengthen the organization's music instruction in Chicago's underserved areas, a community need identified by a CIT Small Business Solutions customer as part of the company's Acts of Caring initiative.

CIT's donation provides five Apple iMac computers with Logic Pro X software to help MAI establish a greatly anticipated computer lab for students to write and create music, practice instruments and learn music theory. 

Musical Arts Institute equips students to compete for college scholarships and to pursue sustainable professional careers in music, providing lessons in vocal, piano, percussion, string orchestra, wind instrument, bass and guitar and music theory and production, in addition to specialized classes. MAI engages 2,500 students annually to grow and refine their talent and support college placement, including scholarship assistance.

"When Musical Arts Institute was founded a decade ago, we noticed that students in the Chicago public school system and in Black communities lacked access to advanced music instruction, so we compiled a team of professional musicians and educators to serve this need and provide music instruction for students," said Michael Manson, executive director at Musical Arts Institute. "CIT's donation of computers and software will further support these students in their musical endeavors, providing them with the technical tools they need to succeed."

"CIT is proud to support the needs of our communities and complete projects on behalf of our customers as part of our Acts of Caring initiative," said Ken Martin, managing director of Small Business Solutions at CIT. "We're pleased to provide MAI with computers and software that will enhance the music education of students in underserved areas and support their dreams of going to college and pursuing a rewarding career."

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 Small Business Solutions, Musical Arts Institute 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 Musical Arts Institute

The Musical Arts Institute (MAI) is a nonprofit, 501(c)(3), music school which provides high quality instrumental and vocal training for culturally and economically underserved Chicago youths. Its mission is to transform the minds our youth via world class musical instruction. Since its founding 10 years ago, MAI has become a leading music performance organization whose purpose is to prepare students, particularly those who live in under-resourced communities, with the character and skills aligned with success in school and life, thus reaching their full potential. Our students receive in-school instruction as well as intensive after school private and group training when access to music education is limited or nonexistent. Musical Arts Institute is recognized as one of the top-rated nonprofits in the United States based on community service and financial responsibility.

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:  
Susan Fitzpatrick
212-461-7806
Susan.Fitzpatrick@cit.com

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SOURCE CIT Group Inc.