MassMutual Partners with ALPFA to Help Latino Businesses & Families

Massachusetts Mutual Life Insurance Company (MassMutual) and ALPFA have partnered to help Latino small business owners and families make good financial decisions for a more secure future.

“The Latino population’s phenomenal growth, combined with the country’s economic climate, makes it critical for this community to work toward 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.

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.