Prudential Funds NCLR Research that will build on The Hispanic American Financial Experience

Tuesday, July 22, 2014

The $850,000 grant will focus on the financial education needs of U.S. Hispanic population and dig deeper into Hispanics’ knowledge, access and use of financial products to achieve long-term financial security

NEWARK, N.J., Jul 21, 2014 (BUSINESS WIRE) — Prudential Financial, Inc. PRU +0.59% announced today an $850,000 grant in support of the National Council of La Raza’s (NCLR) Wealth-Building Policy Project, which seeks to strengthen Hispanic communities by preserving and increasing their wealth through research and advocacy. The grant, provided through The Prudential Foundation, will support research that examines Hispanics’ knowledge, access and use of financial products as mechanisms to build wealth and increase financial security. The research will complement Prudential’s study, The Hispanic American Financial Experience ,by addressing information gaps, providing broader insight into the Hispanic community and adding deeper context to the report’s findings. The announcement was made at NCLR’s annual conference in Los Angeles.

“At Prudential, we understand the importance of addressing the financial needs of all communities. The partnership with NCLR is another example of Prudential’s commitment to diversity and inclusion, and is an important step towards understanding Hispanic-American’s needs so that the industry can better serve them,” said Sharon Taylor, senior vice president, Human Resources, and chair of The Prudential Foundation.

“We believe everyone should have the opportunity to achieve economic success,” said Lata Reddy, vice president of Prudential’s Office of Corporate Social Responsibility and president of The Prudential Foundation. “This grant will advance research to help connect America’s underserved communities with the necessary financial services, tools and products that are essential to long-term financial security.”

Source: Market Watch (link opens in a new window)

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Education
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Base of the Pyramid, financial education, financial services