Northwestern Mutual Sustainability and Social Impact: Delivering Financial Security and Expanding Financial Access

We exist to relieve Americans from financial anxiety and invest in improving financial access to help reduce the wealth gap.

NORTHAMPTON, MA / ACCESSWIRE / April 25, 2024 / Northwestern Mutual
Originally published in Northwestern Mutual 2023 Sustainability and Social Impact Report

Driven by our mission to improve lives through financial security, we've helped millions of Americans reduce financial vulnerability and plan and manage for a lifetime of financial needs and goals. We know that financial security is often hindered in underserved communities, which is why we're taking bold steps to increase financial knowledge, improve access to capital for small businesses and advance the ability to build generational wealth. We believe accelerating economic empowerment delivers the growth and returns our stakeholders expect.

A key engine in these efforts is our Sustained Action for Racial Equity (SARE) initiative, launched in 2020 by Chairman, President and Chief Executive Officer John Schlifske. Through this initiative, driven by 80+ leaders across our corporate offices and network of field offices, we seek to promote multicultural entrepreneurship, supplier/business diversity and financial education. We take a long-term view while acting with a sense of urgency-proud of the results we've achieved while recognizing there is much more to be done to create healthier, stronger communities and a better tomorrow.

ADVANCING MULTICULTURAL AND WOMEN-RUN BUSINESSES

Northwestern Mutual is committed to specific initiatives to support change in underserved communities. We're building an ecosystem for multicultural business success-increasing access to resources and capital, and furthering organizations' willingness to spend with multicultural and women-run businesses.

Northwestern Mutual wants to reduce barriers to financial equity and expand financial access for tech startups by supporting entrepreneurs who have been historically underserved. To address this need, each year the Northwestern Mutual Black Founder Accelerator provides up to 10 entrepreneurs with a $100,000 investment, plus an intensive 12-week business training program and ongoing mentoring. In partnership with gener8tor, a nationally ranked startup accelerator, we've welcomed 30 entrepreneurs and invested $3 million to date. Participants have gone on to accelerate their business plans, raise additional funding and spark business and community growth.