A couple of months ago, I became a shareholder.

Now, before anyone gets too excited, I should clarify: I bought one share. One share of Citizens Bank.

I am now a proud owner of Citizens Bank — or at least a proud owner of one tiny piece of Citizens Bank.

Now, you might ask, why did I do that?

Well, if you are a shareholder, you can go to the Annual Shareholders Meeting at Citizens’s main headquarters in Providence, which is exactly what a group of lay leaders, clergy, and I did on Thursday, April 23.

Seven of us went because of Citizens Bank’s financing relationships with CoreCivic and the GEO Group, two for-profit prison companies connected to ICE detention facilities. 

The GBIO – Greater Boston Interfaith Organization, which Emunah’s social justice community is part of, and the De-ICE Citizens Bank Coalition have been calling on Citizens to end those financial relationships.

There was lots of energy. Outside, there was a large protest — led by the De-ICE Citizens Bank Coalition, Brown University students, and members of the GBIO team. My son was there with other students. That was nice.

We were excited for this action. But, as we walked in wearing suits, people thought we were shareholders, which… we were.

In the confusion, we got an unwelcome reception.

Thankfully, the press conference we held afterward clarified things.

So, apparently, not many people attend these shareholders’ meetings.

There were lots of corporate staff and the new board that was being elected. 

And proxy representatives who represent most shareholders.

The CEO gave a presentation. 

There were charts, numbers, corporate language, profit, and growth. Although I have lost $5 so far on my share…

Then, this highly formalized ritual ended, and there was time for Q and A. We were the only ones with questions.

We asked about Citizens Bank’s relationship with CoreCivic and GEO Group.

One of our questions asked about reputation risk and customer trust. If integrity and trust are core values of the Bank, as they state, why continue relationships that so many customers experience as morally problematic? 

We also asked when companies face investigations, fines, lawsuits, and serious allegations of detainee mistreatment, at what point does Citizens decide that lawful is not the same as moral, and exit the relationship?

CoreCivic and the GEO Group have operated ICE detention........

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