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RBC Bank Contributes $5,000 To Literacy Council of Buncombe County



Pictured from left to right: Susan Puryear, RBC Bank; Amanda Edwards, Executive Director, Literacy Council; John Scroggs, RBC Bank

Asheville, N.C. - April 5, 2011 – RBC Bank recently contributed $5,000 to the Literacy Council of Buncombe County. The funds will support the Adult Education program, which matches adults who read at or below a basic skill level one-on-one with a highly-trained volunteer tutor.

One in ten adults in Buncombe County cannot read at or above a basic level. These limited literacy skills pose challenges with daily tasks such as understanding the instructions on a medicine bottle, reading teachers’ notes that children bring home from school and filling out bank deposit slips.

Adult Education students have courageously taken the step to give reading another chance and often show remarkable progress as a result of working with a Literacy Council tutor. Some earn their General Education Development (GED) and others qualify for higher-paying jobs. For the first time, many Adult Education students are able to read recipes, complete job applications and help their children in school. Last year, the Literacy Council of Buncombe County served 73 Adult Education students, a 42% increase in enrollment over the year before.

Research shows that for every dollar invested in Adult Education, the community receives benefits that value $33. RBC Bank’s investment in the Literacy Council will change adult students’ lives as they improve job prospects, increase labor productivity, assist their children as engaged and knowledgeable parents and become active community members. This gift, in turn, builds the strength of Buncombe County’s economy and community.

About RBC Bank

RBC Bank, headquartered in Raleigh, N.C., offers a wide range of financial services and advice to individuals, businesses and public institutions throughout the Southeast. RBC Bank’s network includes more than 420 full-service banking centers in six states (Alabama, Florida, Georgia, North Carolina, South Carolina and Virginia), an extensive ATM network and telephone and online banking. RBC Bank is the 40th largest U.S. bank by consolidated assets, according to SNL Financial’s List of the Nation’s 50 Largest Banks, September 2010. RBC Bank is a wholly-owned subsidiary of Royal Bank of Canada (RBC) (RY on the TSX and NYSE), Canada's largest and most stable bank as measured by assets and market capitalization. For ten consecutive years, RBC has been named to the prestigious Dow Jones Sustainability World Index. RBC has been listed as one of the most sustainable large corporations in the world for six years in a row, according to the annual ranking by Corporate Knights. And, in February of this year, RBC was ranked 31st in The World's Most Respected Companies by Barron's, and third among financial institutions. More information about RBC Bank may be found at