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Live Mutual Project Communities

In 2018, we began the Live Mutual Project in the Frayser neighborhood of Memphis, Tennessee, and the North End neighborhood of Springfield, Massachusetts.  

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Memphis, Tennessee

A sign that reads "To Frayser"

The Frayser Neighborhood

The Frayser neighborhood of Memphis sprang up around the railroad in the late 1800s. In the 20th century, factories moved in, shopping centers and schools opened and the community thrived.






A man walking in front of a storefront that advertises check caching, debit cards, and loans

In the 1980s, plants closed, people left, and businesses stopped investing, leaving Frayser one of the most economically disadvantaged communities in America.

Per capita income in Frayser is lower than 99% of U.S. neighborhoods. 87% of children at Frayser Achievement Elementary school qualify for free or reduced-price lunches.






A neighborhood with a man and woman outside of their house working on the lawn

Despite these challenges, Frayser is full of potential. In 2017, a passionate MassMutual agent inspired us to do more. After learning about the damaging effect payday lenders had on the area, we were ready to act but didn’t have all the answers – we needed to take a mutual approach.

In 2018, Frayser welcomed the opportunity to be one of the first neighborhoods to participate in the Live Mutual Project.

 




Springfield, Massachusetts

A person crossing the street in downtown Springfield

Springfield's North End

Springfield’s North End includes Brightwood, Memorial Square and Liberty Heights. For more than a century, it has been a first home for various immigrant communities. While some have thrived, others experience health and well-being far below city, regional, and state expectations.






Students walking along a Springfield street

Brightwood, Memorial Square, and Liberty Heights have population rates living below the poverty line of 51%, 53% and 22% respectively, compared to the 11% national rate.









Two people walking along a street in the north end of Springfield

North End residents face challenges accessing financial services. With few formal banking services in the area, people rely on a few ATMs, check-cashing options in bodegas, or payday lenders in surrounding neighborhoods.

As the location of MassMutual’s headquarters, Springfield, Massachusetts was a natural place for us to pilot the Live Mutual Project. We work with longstanding partners to support residents’ financial well-being.

 


Resources

A group of students in an auditorium holding up "I am FutureSmart" signs

FutureSmartSM

Middle and high school students receive financial education to build strong financial futures for themselves, their families, and their communities. Through our digital classroom-based financial education platform as well as through interactive events at National Basketball Association (NBA) affiliate arenas around the country, we have reached over two million students and will not stop until every corner of America is FutureSmart.

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A woman sitting on a couch in her family room

LifeBridgeSM

Through this unique offering, MassMutual helps eligible parents and legal guardians fund their children’s education by issuing $50,000 10-year life insurance policies at no cost to them (MassMutual pays the premiums.) Since 2002, LifeBridge has provided over 14,000 policies and more than $708 million in coverage. We’re proud of the positive impact LifeBridge has on the lives of participating families.

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Men and women sitting around a table collaborating

Discussion Guide

Many of us are uncomfortable talking about money. The questions in the discussion guide are intended to help start a conversation about financial health, including how we spend and save, and what can be done to help the millions of Americans struggling financially today. Download our discussion guide and start a conversation today.

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