Webster Bank Awards Financial Empowerment Grants
Webster Bank has awarded $300,000 in grants to three nonprofits that provide financial empowerment programs to students in low- to moderate-income areas in Connecticut and Massachusetts.
The grants, announced June 14 are part of Webster Bank’s Finance Lab Initiative.
The initiative provides funding for nonprofits to help young people gain skills in economic empowerment and financial success.
The Hispanic Coalition of Greater Waterbury Inc. and the YWCA Hartford Region each received $100,000.
“We’re incredibly proud to be able to partner with three local organizations that are aligned with our shared values of integrity, collaboration, accountability, agility, respect, and excellence,” said Marissa Weidner, Webster Bank’s chief corporate responsibility officer.
The YWCA Hartford Region will create its program to empower women on their path to achieve job and career goals.
CEO Adrienne Cochrane said the partnership “allows us to expand our financial empowerment programs to help address economic inequities experienced by women and girls in our community.”
The Hispanic Coalition of Greater Waterbury is using the funding to create financial education programming.
Students will learn about financing small businesses, how to manage a bank account, and how to increase credit scores.
“Our innovative partnership to establish a Webster Finance Lab will provide our children a community-guided and life-altering opportunity to learn that future financial success starts today,” said executive director Victor Lopez Jr.
Webster also awarded $100,000 to the Taunton Area School To Career in Massachusetts.
The Finance Labs Initiative is part of Webster’s $6.5 billion Community Investment Strategy.
Since it launched in June 2022, the initiative has committed $600,000 to six nonprofit organizations.
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