MassMutual Invests in Future Latino Business Leaders

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Massachusetts Mutual Life Insurance Company (MassMutual) and ALPFA — the largest association of Latino professional leaders — today announced a collaborative relationship aimed at helping the exploding number of Latino small business owners and families make good financial decisions for a more secure future. MassMutual’s continued focus on providing much-needed financial education to the Latino community will be bolstered by its relationship with ALPFA, a nonprofit organization dedicated to preparing more Latinos for leadership opportunities and stronger prospects for the community.

“The Latino population’s phenomenal growth, combined with the country’s economic climate, makes it critical for this community to work towards greater financial security for individuals, businesses and families,” said Chris Mendoza, assistant vice president, multicultural market development, MassMutual. “ALPFA is a natural partner for us because it is on the front lines of providing future Latino business leaders with the skills and knowledge to serve the financial needs of the growing Latino community.”

The ALPFA Annual Convention taking place in Anaheim, Calif., from August 5-10th will be the site for MassMutual to unveil the early findings of national proprietary research that examines the state of small business owners’ fiscal fitness. Although the U.S. Census indicates that Hispanic-owned businesses are increasing at more than double the national rate — growing by 43 percent between 2002 and 2007 — MassMutual’s research shows significant gaps in their fiscal knowledge and use of available tools to help them create a more solid future for themselves and their families. MassMutual will release the full study findings this fall.

“ALPFA members — both seasoned professionals and student future leaders — should understand and explore ways to close these gaps in our community’s fiscal health. Along with MassMutual and other leaders in the business community, we must come together to determine strategies for improving Latinos’ knowledge and financial confidence, so we can all better serve the community,” said Manny Espinoza, CEO, ALPFA.

In addition to serving as a sponsor for the ALPFA National Convention, the 160-year-old MassMutual will support ALPFA’s Leadership Summit in November 2011, participate in local chapter events and reach out to the organization’s membership with employment opportunities and financial educational information.

The sponsorship of ALPFA is a key component of MassMutual’s Hispanic Fiscal Fitness Initiative that includes partnerships with Latino nonprofit business organizations across the country to help Hispanic business owners and professionals improve their financial health. MassMutual has commissioned research on Latinos’ fiscal health in Houston, San Antonio and Fort Lauderdale. The research being unveiled in August 2011 represents its first comprehensive analysis of Latino business owners at a national level.

About MassMutual

Founded in 1851, MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyholders. The company has a long history of financial strength and strong performance, and although dividends are not guaranteed, MassMutual has paid dividends to eligible participating policyholders every year since the 1860s. With whole life insurance as its foundation, MassMutual provides products to help meet the financial needs of clients, such as life insurance, disability income insurance, long term care insurance, retirement/401(k) plan services, and annuities. In addition, the company’s strong and growing network of financial professionals helps clients make good financial decisions for the long-term.

MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated companies and sales representatives. MassMutual is headquartered in Springfield, Massachusetts, and its major affiliates include: Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; The First Mercantile Trust Company; MassMutual International LLC; MML Investors Services, LLC, Member FINRA and SIPC; OppenheimerFunds, Inc.; and The MassMutual Trust Company, FSB.

For more information, visit www.massmutual.com or “Like” MassMutual on Facebook.

About ALPFA

Established in 1972, ALPFA is the first national Latino professional association created in the United States. ALPFA provides members the foundation to advance Latino leadership through access to opportunities and the individuals that can impact them throughout their careers.

Today, with 15,000 members, including CEOs, CFOs and board members, through 39 professional chapters and 80 student chapters in campuses around the nation, the organization has the largest member base and footprint among professional associations for Latinos. For more information visit: www.alpfa.org.

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Contact:

MassMutual
Norma Galeana, 562-261-6811
negaleana@sbcglobal.net
Karen Lavariere-Sanchez, 413-744-7660
Klavariere-sanchez@massmutual.com

From: finance.yahoo.com