MINNEAPOLIS--(BUSINESS WIRE)--Allianz Life Insurance Company of North America (Allianz Life®) awarded $275,000 in financial literacy grants to 17 nonprofit organizations in the Twin Cities. These organizations received grants of $5,000 to $20,000 after they successfully illustrated their ability to educate consumers on retirement, financial abuse and personal finance topics.
In addition to the $275,000, BestPrep and Junior Achievement each received $100,000 as part of an ongoing strategic partnership with Allianz Life that will continue through 2016. Since this partnership began in 2010, more than 2,400 Allianz Life employees have volunteered for youth education programs such as JA in a Day, eMentors/Job Shadow, Financial Matters Initiative, The Stock Market Game™, JA Finance Park, JA Biz Town, JA BIG Bowl, and Minnesota Business Venture Resident Business Leaders.
“Everyone deserves to live life with dignity, which is why having a solid financial education is important for both young people and seniors who may be vulnerable to financial exploitation,” said Allianz Life President and CEO Walter White. “Allianz Life will continue to support organizations that educate, prepare and protect young people and seniors so they can lead healthy and successful financial lives.”
Combating financial elder abuse
One of the new 2014 grant recipients, Lutheran Social Services of Minnesota (LSS), supports financial literacy to combat elder financial abuse. LSS will use the Allianz Life grant to create a new financial education workshop program offered at no cost to Twin Cities’ senior citizens who reside in independent living facilities. The LSS workshops empower seniors with knowledge and resources to protect and take control of their financial health and security. Three sessions will be offered with a focus on reducing the risk of financial fraud, budgeting with tools and strategies to “live more with less,” and creating a defense against identity theft.
The grants were awarded to the following 17 nonprofits:
- AccountAbility Minnesota – supporting their financial services program
- CLIMB Theater, Inc. – supporting their play, "Emma and the Allianz Cash Cow"
- CLUES – supporting their financial empowerment services
- College Possible – supporting their financial literacy curriculum
- Emerge Community Development – supporting their North Minneapolis Financial Opportunity Center (FOC)
- Family Means – supporting their Consumer Credit Counseling Services Education and Outreach
- LifeTrack Resources – supporting their financial literacy program within their employment program
- Lutheran Social Services of MN – supporting financial education workshops for Twin Cities senior citizens
- Minnesota Adult and Teen Challenge – supporting their financial literacy program
- Minnesota Community Action Partnership Association Resource Fund – supporting Twin Cities Metro Area Financial Education Initiative
- Minnesota Council on Economic Education – supporting their Community Mentorship for Financial Capability program
- Neighborhood Development Center – supporting their financial literacy as part of new Entrepreneur Training and Technical Assistance program
- People Serving People – supporting their Financial Fitness program
- Phyllis Wheatley Community Center, Inc. – supporting their financial literacy program
- Project for Pride in Living (PPL) – supporting their employment training - financial literacy program
- Twin Cities RISE! – supporting their financial education program within their employment programs
- WomenVenture – supporting financial education within their entrepreneurship program
For more information about Allianz Life’s community giving programs, visit Allianz Life Community Outreach.
About Allianz Life
Allianz Life Insurance Company of North America, one of FORTUNE’s 100 Best Companies to Work For in 2014, has been keeping its promises since 1896. Today, it carries on that tradition, helping Americans achieve their retirement income and protection goals with a variety of annuities and life insurance products. As a leading provider of fixed index annuities, Allianz Life is part of Allianz SE, a global leader in the financial services industry with 142,000 employees worldwide. More than 78 million private and corporate customers rely on Allianz knowledge, global reach, and capital strength to help them make the most of financial opportunities.