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...

Tanya Van Court’s Goalsetter has reached yet another milestone since launching in 2019. As AFROTECH™ previously reported, the founder and CEO founded the fintech platform to help youth and families gain access to banking and financial education, including tools, investing, and savings. In 2021, Goalsetter’s mission caught the attention of NBA stars Kevin Durant, Carmelo Anthony, and Andre Drummond, who all invested in the company’s $15 million Series A funding round. Now, Goalsetter has announced that the round isn’t finished just yet. According to a press release shared with AFROTECH™, Goalsetter has closed on a $9.6 million Series A extension round. The new round was led by an affiliate of Edward Jones and MassMutual through its MM Catalyst Fund, the press release details. Fellow investors included Fiserv, Seae Ventures, Webster Bank, Astia Fund, Partnership Fund for New York City, Reseda Group, and InTouchCU. “Our new Series A extension marks a significant milestone for...

One common misconception about managing money is that the decisions of one individual only affect that person. Because our lives exist in ecosystems that impact multiple people, creating a financial plan often must bear in mind all those connected to the source. But how do you establish a personal financial model that is best for the earner and still beneficial for all involved? Getting your family or loved ones on board with an agreed-upon financial support model may not be the easiest thing to do, but it is not impossible. MassMutual believes one must build that financial planning muscle to achieve those collective goals. MassMutual wants to empower people with tools to align with their loved ones on a shared vision to achieve financial dreams and peace of mind – providing an understanding of how to do so with a growth mindset. Here are a few ways to strengthen financial muscles for you and your family. Budgeting Creating a budget that accounts for all income and expenses is a...

The year is 2000. Behind a heavy, string-filled Southern rap instrumental, you hear the emphatic yell: “Who run it?” Fast forward 21 years, and the equally emphatic answer is Black entrepreneurs! From an emerging technology base to an established market for creatives and artists, Memphis is a haven for Black entrepreneurship and innovation. Named 2021’s Best City for Black-Owned Businesses , it’s poised for significant market growth as communities and families continue to build on its strong legacy. Epicenter is at the forefront of this entrepreneurial emergence, making sure Memphis can maintain its “Best Of” status and position business owners to have the proper capital and resources necessary for sustainability and growth. The organization is building an entrepreneurial nexus that connects business owners to capital, education and training, and a myriad of other support services that will allow them to grow and establish generation wealth. “Epicenter is really upfront about the...