Allianz Celebrates Financial Literacy Month by Offering Free Financial Seminars to Hispanic...

Allianz Celebrates Financial Literacy Month by Offering Free Financial Seminars to Hispanic Heritage Youth Award Winners

216 U.S. Hispanic families will have access to free bilingual financial education


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Minneapolis, MN–(HISPANIC PR WIRE)–April 3, 2006–Allianz Life Insurance Company of North America announced today a new financial literacy program for the recipients of the Hispanic Heritage Youth Awards and their families. As an official sponsor of the Hispanic Heritage Foundation, Allianz will offer free bilingual financial seminars to the winners, their families and friends. The seminars will cover the basic principles of saving and investing and provide tools to make knowledgeable financial decisions.

According to the National Council of La Raza report, Financial Counseling: A Meaningful Strategy for Building Wealth in the Latino Community (December, 2005), raising financial awareness among Hispanic families is especially important given their often limited experience with financial tools, language barriers to accessing financial services, and the growing number of complex financial choices they must make.

“Allianz is proud to be able to help provide financial tools and resources to this year’s Hispanic Heritage Youth Award winners and their families to help them plan for a sound financial future,” said Rafael Gutierrez, director of Multicultural Markets – Hispanic Division for Allianz Life Insurance Company of North America. “We know that these young award recipients are leaders in their communities and if we provide them with the right financial knowledge, they could become mentors for their friends and families.”

Based on research by Consolidated Credit Counseling Services, Inc., only 15 percent of all high-school students take a personal finance class (1). In addition, the Jump$tart Coalition for Personal Financial Literacy, a non-profit organization promoting financial literacy at the K-12 level, has found that parents are not talking to their children about the responsibility that comes with using a credit card (2).

The seminars will be taught by qualified bilingual financial planners in group sessions and will include topics such as: how to start planning for post-secondary education, investment basics, debt management, insurance options, long-term savings, and retirement. The seminars will be offered in 12 major Hispanic markets including: Philadelphia, Washington D.C., New York, Phoenix, Miami, San Antonio, Dallas, Houston, San Diego, Los Angeles, Stanford (CA), and Chicago.

Allianz has been an active participant in the Foundation’s Hispanic Heritage Youth Awards Program. The program recognizes excellence in academics, sports, journalism, healthcare, engineering and mathematics, education, leadership, arts and culture, and community service in high school seniors in 12 regions across the country.

About Allianz Life Insurance Company of North America

Founded in 1896 and based in Minneapolis, Allianz Life Insurance Company of North America is a leading provider of fixed and variable annuities, life insurance policies, long term care insurance products, and health excess of loss insurance products in the U.S. Allianz Life Insurance Company of North America is one of the primary companies of Allianz SE. Allianz SE employs over 177,000 people worldwide.

About the Hispanic Heritage Foundation

The Hispanic Heritage Foundation celebrates and promotes Hispanic pride, culture and accomplishment through educational and inspirational programs. The Washington-based nonprofit, now celebrating its 20th Anniversary, has grown from a small photo-op at the White House commemorating Hispanic Heritage Month into a highly-respected organization with year-round programs including: the Hispanic Heritage Awards, which honors notable Hispanic leaders during a star-studded ceremony broadcast nationally on NBC and Telemundo; the Hispanic Heritage Youth Awards, a leadership program recognizing outstanding young Hispanic role models by rewarding them with thousands of dollars in educational grants; and the new LOFT (Latinos on Fast Track) initiative which systematically provides corporate America with top Hispanic talent, using the Youth Awards as a feeder program, in an effort to bolster and diversify the workforce, with a focus on a management track. For more information please visit http://http://www.HispanicHeritage.org.

1 – Research is referenced in “Student Credit Card Debt: A Survival Guide for Students, Amy L. Cooper-Arnold, March 7, 2005

2 – Research is referenced in “Student Credit Card Debt: A Survival Guide for Students, Amy L. Cooper-Arnold, March 7, 2005

Allianz Celebrates Financial Literacy Month by Offering Free Financial Seminars to Hispanic Heritage Youth Award Winners