We know it takes more than financial resources to help individuals and families improve their economic status. It also takes relationships, trust and understanding among community members. Through the Live Mutual Project, we identify, optimize and expand existing community assets to create long-term sustainable solutions for communities.
How We Create Financial Health
Establishing easier paths to community resources
Improving access to essential financial services
Connecting families with holistic resources to support financial health
Building vibrant and inclusive community spaces
Live Mutual Project Communities
Beginning in 2018, we are piloting the Live Mutual Project in the Frayser neighborhood of Memphis, Tennessee and the North End neighborhood of Springfield, Massachusetts.
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.
In the 1980s, plants closed, people left and businesses stopped investing, leaving Frayser one of the most economically disadvantaged communities in America.
In 2017, a passionate MassMutual advisor 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, a group of leading service organizations in Frayser welcomed the opportunity to participate in the Live Mutual Project.
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.
Today, health and well-being in the area is lower than it should be. Brightwood, Memorial Square and Liberty Heights have unemployment rates of 16%, 31% and 14% respectively, compared to the 3.7% national rate.
North End residents face challenges accessing financial services. With no banks 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 was a natural place for us to pilot the Live Mutual Project to support residents’ financial well-being.
How We Began
As a financial services company, we have a legacy in supporting financial education and economic development. However, all too often we see well-intended efforts that are disconnected – including our own. We believe we can be more powerful when we engage more fully with others to address economic challenges facing Americans today.
The Live Mutual Project helps community partners convene, collaborate, coordinate and allocate resources toward a shared vision of prosperity. We help them build capacity, develop leadership and create connections to strengthen financial well-being, now and for generations to come.
We run two national programs to help people reach their full potential.
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 one million students and are halfway to our goal of delivering FutureSmart to two million students by 2020.Learn More
We help eligible working parents fund their children's education by issuing $50,000 term life insurance policies at no cost to them. As of 2018, we had issued more than 14,000 policies for more than $700 million in coverage.Learn More