SPRINGFIELD, Mass., Dec. 17, 2010 /PRNewswire/ -- Massachusetts Mutual Life Insurance Company (MassMutual) and Greater Springfield Habitat for Humanity, announced today the completion of a new home at 161 Albemarle St. in Springfield, Mass.; the culmination of hundreds of MassMutual and community volunteer hours to create housing for a Springfield family.
Over the past six months, more than 300 employees from MassMutual along with other community volunteers have been working tirelessly to help build the home for the Pagan-Roldan family as part of Habitat for Humanity's efforts to build its 42nd house in the Springfield area. MassMutual and its subsidiary, Babson Capital Management LLC, have also provided more than $100,000 to fund the project.
"This project was a great opportunity for our company and employees to give back to our community by helping to make a local family's dream come true with a home of their own," said Roger Crandall, President and Chief Executive Officer, MassMutual. "MassMutual is very proud to offer both financial and volunteer support for this project and we wish the Pagan-Roldan family all the best in their new home."
Juan Roldan and Sandra Pagan and their two daughters are the new proud owners of the house on Albemarle St. Juan and Sandra have also worked at the site throughout the last six months to help build the house for their family.
"We are so grateful to Habitat and MassMutual for the opportunity to own our own home," said Mr. Roldan. "Having a home of our own will give our family emotional and physical stability, and help our daughters to feel secure."
MassMutual's employees, including Mr. Crandall and other senior executives at the company, provided more than 2,000 volunteer hours on the project over the course of 22 volunteer days. The Habitat project is also an important piece of MassMutual's broader commitment to advancing economic and community development along the State Street Corridor and its adjacent neighborhoods. In addition to leading the formation of the State Street Alliance, which devised a redevelopment strategy for the corridor, the company is in its second year of providing grants to income-eligible homeowners along the corridor to fix up the outside of their homes through its Curb Appeal program.
"State Street and the neighborhoods that surround it are a key part of the city of Springfield's long-term future," said Mr. Crandall. "We are pleased with the progress thus far and happy to include this Habitat project as yet another success in our efforts to improve the vibrancy of the State Street Corridor."
In addition to their new home, the Pagan-Roldan family also qualified for a free $50,000 life insurance policy as part of MassMutual's LifeBridge(SM) program, which provides free term life insurance to income-eligible working families across the country. Proceeds from the policy can be used to fund educational expenses for the children if the insured parent dies during the ten year policy term. MassMutual pays the premiums for the policy.
For more information about Greater Springfield Habitat for Humanity visit www.habitatspringfield.org. To find out more about the good MassMutual is doing in communities across the country visit www.massmutual.com/responsibility.
Founded in 1851, MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyholders. The company has a long history of financial strength and strong performance, and although dividends are not guaranteed, MassMutual has paid dividends to eligible participating policyholders every year since the 1860s. With whole life insurance as its foundation, MassMutual provides products to help meet the financial needs of clients, such as life insurance, disability income insurance, long term care insurance, retirement/401(k) plan services, and annuities. In addition, the company's strong and growing network of financial professionals helps clients make good financial decisions for the long-term.
MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated companies and sales representatives. MassMutual is headquartered in Springfield, Massachusetts and its major affiliates include: Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; The First Mercantile Trust Company; MassMutual International LLC; MML Investors Services, member FINRA and SIPC; OppenheimerFunds, Inc.; and The MassMutual Trust Company, FSB.
About Habitat for Humanity
Greater Springfield Habitat for Humanity (GSHFH) is a housing ministry dedicated to strengthening communities by empowering low-income families to change their lives and the lives of future generations through homeownership opportunities. This is accomplished by working in partnership with diverse people, from all walks of life, to build simple, decent, affordable housing.