SOURCE: San Francisco Bay Area Agency

San Francisco Bay Area Agency

March 17, 2010 12:36 ET

San Francisco Bay Area Insurance Agency, MassMutual Announce Scholarship Program for Local African-American, Asian/Pacific and Hispanic College Students

Company to Award Three $5,000 Scholarships to Qualifying Bay Area Students

WALNUT CREEK, CA--(Marketwire - March 17, 2010) - Local African-American, Asian/Pacific and Hispanic college students from the San Francisco Greater Bay Area will have a chance to win scholarships and internship opportunities in the financial services field as part of a newly-expanded scholarship program sponsored by the San Francisco Bay Area Insurance Agency, a general agency of Massachusetts Mutual Life Insurance Co. (MassMutual).

Students of African-American, Asian/Pacific Islander, or Hispanic descent who reside in the Bay Area can apply for one of three $5,000 college scholarships. In addition, applicants must meet certain academic criteria, such as having concentrations in the fields of business, economics, finance, financial planning, management, marketing or sales. Nationally, MassMutual is making $135,000 in scholarships available in nine metropolitan areas as part of the program.

"We've always been committed to attracting talented professionals to the field of financial services, and in particular to supporting people of diverse backgrounds, both as agents and as clients," said Robert Fakhimi, CEO and Managing Partner, San Francisco Bay Area Insurance Agency. "These scholarships will, ultimately, help us better serve our Bay Area's increasingly diverse community."

This marks the second consecutive year that the San Francisco Bay Area Insurance Agency has participated in the scholarship program with MassMutual. This year, MassMutual is expanding the scholarship program, which began in 2009 with four metropolitan areas, to nine.

"Our scholarship program is a very important part of our commitment to diversity and education, and because of it and our other efforts, we're already making a big difference in the lives of the communities we serve," said Nick Fyntrilakis, assistant vice president of Community Responsibility for MassMutual.

The scholarship program's application deadline is May 30, and winners will be notified in late summer.

To be eligible, applicants must:

  • Be of African American/Black, Asian/Pacific Islander or Hispanic decent.
  • Be a U.S. citizen or legal permanent resident with a permanent resident card or passport stamped I-551 (not expired).
  • Have a minimum cumulative grade point average (GPA) of 3.0 on a 4.0 scale.
  • Have plans to attend FULL-TIME, a degree-seeking program at a U.S. accredited institution in the U.S., Puerto Rico, U.S. Virgin Islands or Guam during the 2010-2011 academic year.
  • Be entering their sophomore, junior, senior or 5th year senior year at a four-year university or be a community college student.
  • Reside or plan to attend an institution in one of the following metropolitan areas: Atlanta, GA; Denver, CO; Houston, TX; Los Angeles, CA; San Francisco, CA; Central New Jersey; Chicago, IL; Miami, FL; or San Antonio, TX.
  • Be majoring in business, economics, finance, financial planning, management, marketing or sales.
  • Demonstrate leadership and extra curricular activities.
  • Must apply for federal financial aid by completing the Free Application for Federal Student Aid (FAFSA).

For more information on how to apply and to obtain an application, visit

About the San Francisco Bay Area Insurance Agency LLC

Founded in 1891, San Francisco Bay Area Insurance Agency LLC is a significant contributor to the local economy, as shown by the following figures about the San Francisco Bay Area Insurance Agency (as of December 31, 2009):

  • More than 36,000 policyholders and clients
  • Managing over $896 Million in assets (including assets and certain external investment funds managed by MassMutual and its subsidiaries)
  • More than $4.3 billion in life insurance face amount in force
  • Will return more than $9.3 million in dividends to its participating policyholders in 2009 

Robert Fakhimi is CEO and Managing Partner of the San Francisco Bay Area Insurance Agency LLC. Mr. Fakhimi can be reached at 888-803-3631, ext. 320 or by e-mailing him at Securities and investment advisory services offered through qualified registered representatives of MML Investors Services, member SIPC, Inc.

About MassMutual

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, Inc., member FINRA and SIPC; OppenheimerFunds, Inc.; and The MassMutual Trust Company, FSB.

Contact Information

  • Contact:
    Erica Zeidenberg