MassMutual Great Lakes, First Independence Bank Announce Partnership To Close Racial Wealth Gap
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MassMutual Great Lakes, First Independence Bank Announce Partnership To Close Racial Wealth Gap

MassMutual is linking up with Michigan’s only Black-owned bank to work toward closing the racial wealth gap!

According to the news release, First Independence Bank (FIB) is the only Black-owned bank in Michigan and through the new strategic alliance with MassMutual Great Lakes (MMGL), they’ve committed to helping the underserved reshape how they view money.

“At MassMutual Great Lakes, we believe every individual, small business owner, and corporation deserves the right to financial services and strategies designed to create stability,” said MassMutual Great Lakes Manuel Amezcua in an official news release. “Our commitment is to develop meaningful relationships that reshape the financial well-being and success of a diverse group of individuals and institutions in the communities we serve.”

Since its launch in 1970, FIB has served the dreams and financial needs of Black Americans and is one of only 155 minority depository institutions, according to Black Enterprise, in the nation and the only Black-owned bank based in the state of Michigan.

Partnerships of this sort are vital to both closing the racial wealth gap and bringing awareness to the services and programs of the institutions that clients may not know about.

FIB clients will have access to a full line of both investment and insurance products and services fueled by a dedicated team of MMGL financial professionals.

MMGL’s current chief sales officer says that she’s excited to work alongside FIB.

“For more than five decades, First Independence Bank has played an important role in addressing economic inequality and helping to create economic stability,” said Gina Coleman MMGL Chief Sales Officer  in a statement. “We are excited to form this alliance with FIB to increase financial education opportunities and access to financial products and services while enhancing the level of convenience offered to the bank’s clients and the surrounding community.”

The partnership will kick off with an initial series of virtual financial wellness sessions throughout the month of May and the complimentary sessions are open to FIB clients, employees, and the broader community.

For more information on how to register click here.