MassMutual believes the best way to support the communities in which we live and work is by contributing to the education, health and financial well-being of the people who make up those communities.
Charitable Giving
MassMutual helps enhance the quality of life across our communities by supporting efforts within our focus areas of education and career pathways, economic development and community vitality. We do this through grant making and various collaborative efforts.
MassMutual concentrates its charitable contributions, for the most part, in its home office communities of Enfield, CT and Springfield, MA. To be considered, all applicants must show proof of tax-exempt, non-profit status. The MassMutual Contributions Review Committee periodically assesses community needs and sets priorities for the program.
For the past three years, MassMutual has donated more than $7 million annually through its local and national programs.
Education
We continue to make education a priority, by providing for educational expenses following the loss of a parent through our unique LifeBridgeSM Free Life Insurance Program, as well as through our Career Pathways programs which provide students with 21st century skills and development opportunities to prepare them as our future workforce.
LifeBridgeSM - Free Life Insurance Program
Our unique LifeBridge Free Life Insurance Program provides $50,000 term life insurance policies free-of-charge to eligible parents or guardians. We pay the premiums and our agents drive the program in their communities. If an insured parent or guardian dies during the 10-year term, a $50,000 benefit funds a trust serviced by our trust company to pay their children's educational expenses (trust services are provided by the MassMutual Trust Company, FSB). Our goal is to give away $1 billion in coverage. As of March 1, 2011, we are well over halfway to our goal, having provided almost $600 million in free life insurance coverage across the country.
MassMutual Career Pathways
Our Career Pathways Program helps raise awareness among eligible students by providing information to those students, their parents and educators regarding careers at MassMutual and within the financial services industry. The program connects eligible students to MassMutual scholarships, skills training and development, mentoring, internships and opportunities for employment.
MassMutual Academic Achievement Program
Eligible high school students in Springfield, MA who maintain a B-or-better average for four consecutive marking periods are recognized as MassMutual Academic Achievers. Achievers become eligible for incentives to help them continue their academic success, including free access to the PSAT exam and SAT Prep classes, workshops on college admissions, financial aid and career exploration. MassMutual Academic Achievers have access to our Career Pathways initiatives, including the Junior Achievement Stock Market Challenge, Job Shadow Day, and internships, as well as the MassMutual Scholars Program. In 2010, more than 700 Springfield high school students earned recognition as MassMutual Academic Achievers.
MassMutual Scholars Program (in our home office communities)
One component of our Career Pathways Program is the MassMutual Scholars Program, where eligible students interested in careers in financial services can apply for one of the 40 $5,000 renewable MassMutual scholarships we give away (for details or to apply online, visit The Community Foundation of Western Massachusetts). Scholarship recipients are also eligible to apply for internships at MassMutual that will provide them with hands-on experience in the financial services industry.
MassMutual Scholars Program (in select agent communities)
MassMutual is focused on expanding access and the opportunity of higher education and employment to citizens who reflect the rich cultural diversity of our nation. We seek to increase the number of minority students completing college nationally, raise awareness of careers in financial services, and recruit and retain the top talent touched by our programs.
In 2010, MassMutual awarded $135,000 in scholarships, along with internship opportunities, to eligible college students of African-American, Hispanic, Asian and Pacific Islander descent interested in pursing a career in the insurance and financial services industry. Eligible scholars must be attending a college or university or reside in one of nine different metropolitan areas, stretching from San Francisco to Miami. For details or to apply, visit www.hsf.net/massmutual.aspx. For additional information, call 1-(800)-767-1000 (ext. 24888).
Junior Achievement
Employees across MassMutual continue to volunteer their time and business knowledge with Junior Achievement (JA), the world's largest organization dedicated to educating students in grades K-12 about entrepreneurship, work readiness and financial literacy through experiential, hands-on programs. Our work with JA has earned us recognition by Junior Achievement USA as a Top 10 Volunteer Resource Provider in the U.S. (2009) as well as the President's Volunteer Service Award (2010), authorized to honor corporations that provide classroom volunteers to teach JA's educational programs.
Economic Development
MassMutual’s role in the economic development arena for the City of Springfield is that of catalyst for the implementation of strategic development initiatives. These important initiatives help drive the redevelopment projects which improve the State Street corridor and its six adjacent neighborhoods.
State Street Alliance
Working closely with city officials, MassMutual helped convene a group of more than 50 property owners, academic institutions, community-based organizations, and neighborhood groups to form the State Street Alliance. This group's primary mission is to develop, promote, support and implement a comprehensive economic development strategy for the State Street corridor, a 3.2 mile central artery of the city.
DevelopSpringfield
MassMutual championed the creation of DevelopSpringfield, a non-profit 501c3 corporation formed with the purpose of developing and implementing creative revitalization strategies, land assembly and development, all of which support sound residential, commercial and/or industrial development opportunities.
HOME Program
Our Home Ownership for MassMutual Employees (HOME) program was created to provide employees of MassMutual, MassMutual International LLC, The MassMutual Trust Company FSB, and MML Investors Services the opportunity to realize their dream of homeownership. The program has been carefully designed to enhance employees’ quality of life by providing education and information on various aspects of homeownership, access to materials and services, and annual awards of forgivable loans of $7,500 or $10,000 to qualified employees.
Curb Appeal
MassMutual is committed to providing $150,000 for three years in order to provide grants of up to $5,000 each to income-eligible homeowners in neighborhoods along the State Street corridor. The Curb Appeal program is administered by Springfield Neighborhood Housing Services, a local housing non-profit whose mission is to help transform families and rehabilitate blighted residential properties.
Habitat for Humanity
Over the course of seven months in 2010, more than 300 employees from MassMutual worked with Habitat for Humanity and other community volunteers to help build a home for a family of first-time home buyers. MassMutual and its subsidiary, Babson Capital Management LLC, provided more than $100,000 to fund the project while MassMutual’s employees provided more than 2,000 volunteer hours.
United Way
Once again in 2010, MassMutual and its employees were a top corporate contributor to the United Way of the Pioneer Valley. Our annual community campaign also supports the United Way of Central and Northeastern Connecticut, as well as United Way organizations in the communities in which our agencies do business. Through the annual fall pledge drive and special events, employees and our eligible General Agents gave $1,259,992 to the United Way and the company matched their donations up to $1 million. MassMutual employees also reached out to non-profit organizations in neighboring communities, offering their time, skill, and energy on the annual United Way Day of Caring. In 2010, close to 1,000 MassMutual employees volunteered, performing tasks ranging from painting and landscaping to assisting the region’s neediest citizens.
For additional information, e-mail us or call (860) 562-2051.
