Allianz Life Insurance Company of North America has given out $275,000 in grants to nonprofit organizations in the Minneapolis-St. Paul area that teach financial literacy, Allianz announced Tuesday.
The grants from Allianz Life, which is based in Minneapolis, ranged from $10,000 to $25,000 to 14 organizations. Since 2010, the Allianz Life financial literacy grant program has distributed more than $1.6 million. Grant recipients will use the funds to educate and train consumers on topics such as budget counseling, personal finance and debt management.
“Making smart financial decisions creates a more secure future. The work these organizations do to help people develop financial literacy is invaluable to building a better community,” say Walter White, Allianz Life president and CEO.
The grants went to nonprofits that teach financial literacy in a variety of ways to people of all ages. This includes programs that offer coaching for low-income students making college admission and success possible; financial education to homeless and low-income populations; and credit counseling services to help families establish and maintain financial stability.