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Pacific Life Foundation Announces New Multi-Year Partnerships Focused on Financial Security
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As part of Pacific Life’s commitment to Financial Security, the Pacific Life Foundation is proud to announce a $1.25M investment over the next five-years in financial literacy programs for students and low-income families.
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Supporting individuals and families with their financial needs and goals is at the heart Pacific Life. To align with this mission, the Pacific Life Foundation is expanding its commitment of investing in philanthropic financial security initiatives by announcing two new multi-year partnerships with Junior Achievement USA and Orange County United Way.
The Pacific Life Foundation’s investment of $500,000 in Junior Achievement USA over the next five-years will focus on the reimagining of the nonprofit’s national student competition events. JA USA will focus on redesigning three programs that immerse students in real-world scenarios while teaching them important financial literacy skills: Titan National Challenge, Social Innovation Challenge, and the Stock Market Challenge. “Student events have always been a popular feature of Junior Achievement’s learning experiences,” said Jack E. Kosakowski, President and CEO of Junior Achievement USA. “This is especially the case now that students can interact both virtually and in-person. Our involvement with events before and during the pandemic has shown us there are ways to make the most of both in-person and virtual engagement with these events, and we appreciate The Pacific Life Foundation’s support in helping us give students the best possible experience.”
27 Pacific Life employees volunteered with JA-in-a-Day at Santiago Elementary in Orange County, CA
Students who participate in these programs will learn how to run a company, what it’s like to invest in a competitive setting, and understand the financial impact of issues their local community is facing and compete to develop innovative solutions. In addition to these programs helping students build a strong understanding of financial security, they will also learn vital leadership and networking skills. “I was thrilled when I heard that the Pacific Life Foundation was making a significant investment in JA USA to support the redesign of their popular student competition programs,” said Howard Hirakawa, SVP of Pacific Life Fund Advisors. “As a member of the JA Orange County Board since 2016, I’ve had the opportunity to volunteer with students and witness how JA’s program both inspire and prepare the next generation to succeed in a global economy.”
The Foundation has also made a $750,000 commitment over the next five-years to Orange County United Way to support a new SparkPoint OC financial empowerment center in San Juan Capistrano. As a part of United Way’s United for Financial Security Initiative, SparkPoint OC centers provide low-income individuals and families with access to free personal financial coaching and resources. “We launched SparkPoint OC in 2012 with the goal of helping Orange County families gain financial independence by offering financial education and one-on-one coaching to get them on the path from surviving to thriving,” said Sue Parks, Orange County United Way President and CEO. “In 2021 we piloted the program in South Orange County, and the response blew us away. The harsh reality is that many South Orange County families are facing financial and housing insecurity. We were thrilled when the Pacific Life Foundation came to us wanting to support a new center in South County and that the Capistrano Unified School District was equally excited to welcome us onto another elementary school campus.”
This new center will be located at Kinoshita Elementary, a Title I school in the Capistrano Unified School District, where 89% of the families are low-income and 56% homeless or housing insecure. This will be the second SparkPoint OC location in South Orange County and brings the total number of county locations to eight. This convenient location will make it easy for families to access services and work with case managers to create financial plans that tackle their needs and set attainable goals in three key areas:
- Increase Income: Provide access to resources, free tax preparation, and job training and placement services
- Improve Credit: Reduce debt and create sustainable household budgets for financial freedom
- Build Assets: Establish savings and asset strategies to help families reach goals like buying a home or paying for college.
“As a member of OCUW's board, I've seen first-hand the difference that the SparkPoint OC program can have on a family,” said Jay Orlandi, Pacific Life Executive Vice President General Counsel and Orange County United Way Board Member. “Recognizing that achieving financial security does not happen overnight, dedicated program managers set individual goals for each parent, working with them hand-in-hand for 12 months to help them navigate a path toward financially stability. I’m proud of this new partnership and how we are working together to help families in our local community break the cycle of poverty.”
The Pacific Life Foundation, Orange County United Way, Kinoshita leadership and Capistrano Unified District officials gather at Kinoshita Elementary for the SparkPoint OC ribbon cutting.
Kinoshita Students led the audience at the SparkPoint OC ribbon cutting in their school pledge.
These new partnerships are a part of Pacific Life’s goal of creating lasting, positive impact in the communities where employees live and work. In 2023, Pacific Life and the Pacific Life Foundation have allocated $8.25M to its charitable giving programs. To learn more about the Foundation, visit www.PacificLifeFoundation.com.
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