FOR IMMEDIATE RELEASE
February 26, 2002
Contact:
Debra Daniels (202) 220-2354
Safeco Corporation Joins National Partnership
to Support
NeighborWorks® Financial Fitness Training Program
WASHINGTON, DC – SAFECO has joined a national partnership
of insurance and banking firms to support financial training for
lower-income households through the NeighborWorks® Financial
Fitness Training Program, Neighborhood Reinvestment Corporation
announced today. SAFECO has committed $75,000 for the first year
of a three-year investment cycle to support the program. Geared
to primarily lower-income and minority households, the NeighborWorks®
Financial Fitness Training Program was launched last year.
"SAFECO recognizes Neighborhood Reinvestment Corporation
as a leader in providing financial education counseling to potential
homebuyers and existing homeowners. We look forward to helping
expand this important service around the country," said Rose
Lincoln, assistant vice president of public relations for SAFECO.
In 2001, NeighborWorks® organizations in the Financial Fitness
Training Program have collectively enrolled nearly 3,200 low-
to moderate-income people and graduated more than 1,750. The average
income of the program participants is $24,882 and the average
age of the participants is 35. Minorities made up 68 percent.
"Neighborhood Reinvestment is thrilled to welcome SAFECO
Insurance Company as a new national partner in the effort to provide
the financial literacy training that families need to achieve
and maintain their place in the economic mainstream of American
life," said Ellen Lazar, executive director of Neighborhood
Reinvestment Corporation. "SAFECO's investment, combined
with the support of our other national partners, helps families
build assets, while becoming less susceptible to predatory lending
schemes that would strip them of their wealth."
NeighborWorks® network organizations participating in the
program are located in:
Phoenix, AZ; Inglewood, CA; Oakland, CA; Sacramento, CA; Denver,
CO; St. Petersburg, FL; Norcross, GA; Chicago, IL; Goshen, IN;
Lafayette, IN; Salisbury, MD; St. Louis, MO; Manchester, NH; Santa
Fe, NM; New York, NY; Suffolk County, NY; Tulsa, OK; Portland,
OR; Providence, RI; Oak Ridge, TN; Austin, TX; and Salt Lake City,
UT.
Participating NeighborWorks® organizations are part of a
network of more than 220 nonprofit community-based nonprofits
serving more than 2,000 urban, suburban and rural communities
nationwide. The NeighborWorks® network was founded and is
supported by Neighborhood Reinvestment Corporation, a national,
public nonprofit intermediary created by Congress to support and
expand revitalization of lower-income communities throughout America.
NeighborWorks® organizations revitalize neighborhoods by
mobilizing public, private and resident-led partnerships and tailoring
affordable housing, economic development, and resident leadership
activities to meet specific community needs. Last year, the NeighborWorks®
network generated nearly $1.4 billion of direct investment in
the communities it serves.
The curriculum of the NeighborWorks® Financial Fitness Training
Program covers a variety of topics, including basic financial
planning, savings, cash management, investing, insurance products,
taxes and consumer rights. The program focuses on participants
involved in pre- and postpurchase education.
SAFECO joins Providian Financial, FleetBoston Financial, Morgan
Stanley, and Metropolitan Life Foundation as a national partner
of the NeighborWorks® Financial Fitness Training Program.
SAFECO partners with non-profit organizations nationwide to help
build stronger communities. SAFECO is committed to helping people
understand the financial issues that affect their lives and futures,
and has established financial education, neighborhood support,
and community leadership among its funding priorities. SAFECO
has pioneered its own financial education program entitled "Women
and Money," which has been successfully introduced in 10
cities across the nation.
For more on SAFECO, see http://www.safeco.com
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