Today, People's United Community Foundation, the charitable arm of People's United Bank, N.A. (NASDAQ: PBCT), announced it has awarded a $175, 000 grant to Junior Achievement USA to promote financial literacy and career readiness amongst students in six states that align with their footprint, including: Connecticut, New York, Massachusetts, Vermont, New Hampshire and Maine. The award is part of People's United's celebration of their 175th anniversary and is the Foundation's largest single one-time gift since established in 2007.
The beneficiaries of this grant include: Junior Achievement of Southwest New England, Junior Achievement of Western Connecticut, Junior Achievement of Southwest Connecticut, Junior Achievement of New York, Junior Achievement of Maine, Junior Achievement of Northern New England, and Junior Achievement of Western Massachusetts. As part of their support, People's United Bank employees will also volunteer their time, delivering financial literacy programs in elementary schools that coincide with the programs the grant will fund.
"Most of us face financial decisions on a daily basis, but very few Americans receive financial literacy education while in school, " said Jack Kosakowski, President and CEO of Junior Achievement USA. "Given the global nature of our economy, it's important that today's young people are better equipped to make important financial decisions for tomorrow. People's United Community Foundation is helping us do that with its considerable support."
"We could not think of a more influential organization to support as part of our 175th anniversary celebration as Junior Achievement USA, " said Jack Barnes, President and CEO, People's United Bank. "Their programs help prepare today's youth by laying the foundation for a bright professional and financial future through skills they might otherwise not have exposure to. Throughout our 175 year history community involvement has been at the core of our culture and we look forward to continuing our partnership with Junior Achievement."
Prior to this award, People's United Community Foundation has awarded a total of $175, 000 in grants to Junior Achievement affiliates throughout its footprint since 2007. People's United Bank employees have also volunteered countless hours focusing on local elementary, middle and high school education programs.
About People's United Community Foundation
Established in 2007, People's United Community Foundation was formed to help support programs and activities that enhance the quality of life for citizens in the communities that People's United Bank serves. People's United Bank is a subsidiary of People's United Financial, Inc., a diversified financial services company with over $43 billion in assets. People's United Bank, founded in 1842, is a premier, community-based, regional bank in the Northeast offering commercial and retail banking, as well as wealth management services through a network of more than 400 retail locations in Connecticut, New York, Massachusetts, Vermont, New Hampshire and Maine. The funding priorities of the Foundation include affordable housing, community development, and youth development.