Two pieces of news provide a flicker of hope amid the doom and gloom.
Transamerica announced its plan to team up with Habitat for Humanity to transform tomorrow through a housing grant and home improvement efforts in 13 major cities across the U.S.
According to the company, as part of Transamerica's commitment to volunteerism, nearly 500 employees are banding together to support local neighborhood stabilization efforts during the month of May.
"Transamerica understands that the success of tomorrow relies on what we are able to build today and we are bringing this idea home to the communities where we live and work," said Kent Callahan, president and CEO of Employer Solutions and Pensions Division of Transamerica Life Insurance Company. "We are proud to roll up our sleeves and support Habitat for Humanity to help low-income families realize the dream of homeownership."
The volunteer effort will include hundreds of employees from Transamerica Retirement Services, Diversified, Transamerica Employee Benefits, Transamerica Retirement Management, Transamerica Stable Value Solutions, Clark Consulting and the Transamerica COLI/BOLI Service Center business units of the Employer Solutions and Pensions Division, which collectively serve over 34,000 employers and 3.4 million workers in the U.S.
Habitat for Humanity is a nonprofit organization that has built or improved more than 500,000 houses and served more than 2.5 million people around the world.
Participating Transamerica employees will gather at their respective build sites for a full day, helping either to transform existing properties or to build new homes in partnership with Habitat partner families.
Transamerica employees' efforts help revitalize neighborhoods in the following cities:
Little Rock, Ark.
Cedar Rapids, Iowa
Los Angeles, Calif.
Twin Cities, Minn.
"I am proud to be part of a company so deeply committed to the communities," said Stig Nybo, president of Transamerica Retirement Services. "Coming together with my colleagues to help revitalize our neighborhoods and help people achieve home ownership is incredibly rewarding."
Once complete, each home will be sold to partner families at no profit and financed with affordable loans. Families are selected through an application process based on level of need, and a willingness to partner by investing "sweat equity."
The Transamerica companies offer an array of financial services and products with a common purpose: to help individuals, families, and businesses build, protect and preserve their hard-earned assets.
Habitat for Humanity International is a global nonprofit.
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