San Francisco has seen a record increase in home prices in recent times. ACL Real Estate and Property Management analyze whether this growth is a sign of a healthy real estate market by reviewing the recently released report by The Demand Institute.

San Francisco, CA (PRWEB) March 18, 2014

Analyzing the recent report published by The Demand Institute, leading real estate and property management firm ACL Real Estate and Property Management says that San Francisco is unlikely to continue to witness the double digit housing price growth it experienced in 2013.

According to their report, A Tale of 2000 Cities, published by The Demand Institute in February 2014, home prices are likely to increase by an average of 2.1% per year during 2015-2018. However, this figure does not fully reflect the huge pricing differences the nation is likely to see across region. Here is how the report sees prices across states by 2018.

The report also demonstrates the disparity between home prices and the median income, with rents in San Francisco as high as thrice the national average. The Case-Schiller House Price Index for June 2013 had put the price rise in San Francisco at 47%, the highest among all the metropolitan areas studied. This increase, The Demand Institute’s report says was “largely driven by investors buying up swaths of distressed homes to meet growing rental demand.” At the same time, the report forecasts an annual growth rate of 2.1% for single-family homes during 2015-2018, given the expectations of better equilibrium between demand and supply.

“Rising housing prices is not always an indicator of a healthy market because health is more a function of whether people can afford homes at those prices in the long term,” says a spokesperson from ACL Real Estate and Property Management. According to the report published by The Demand Institute, 41% of households faced a moderate-to-severe housing cost burden in 2013 (with 25% carrying moderate burden and another 16% carrying severe burden). The Harvard Joint Center for Housing Studies defines a moderate cost burden as “the need to allocate 30 to 50 percent of pretax household income to essential housing expenses: mortgage principal and interest payment, rent, insurance, taxes, and utilities,” while a severe burden occurs when this figure rises to 50 percent.

The situation is scarcely better for renters. Following the 2007-2008 recession, more and more homeowners have turned into renters, leading to rising demand for rental accommodation. According to The Demand Institute’s study, 31% of tenants in the United States are today spending about 30%-40% of their pre-tax income on housing, with one in every four spending more than 50%. So, is the San Francisco residential market really healthy?

About ACL Real Estate and Property Management: With wide experience and a proven track record in quality service and reliability, ACL Real Estate and Property Management has carved a niche for itself for its real estate and property management services in the East Bay and Peninsula areas. The company has a successful track record of assisting home owners in both selling and buying any type of property. The company also offers comprehensive property management services that ease the process of selecting tenants, maintaining the home and ensuring timely rent collection for homeowners.

For the original version on PRWeb visit: http://www.prweb.com/releases/2014/03/prweb11678686.htm

Article source: http://www.virtual-strategy.com/2014/03/18/rise-sf-bay-area-home-prices-sign-healthy-real-estate-market

OAKLAND, Calif. (AP) – Faced with a transit strike, San Francisco Bay area commuters got out the door earlier than usual Monday and encountered crowded roads and lines for buses and ferries after Bay Area Rapid Transit train workers went on strike.

However, rush hour did not come to a standstill as feared, and some travelers who used carpool lanes and other options added relatively little time to their commutes.

Two of BART’s largest unions went on strike after their contract expired the previous night, halting train service for the first time in 16 years.

The walkout promised to derail more than 400,000 riders who use the nation’s fifth-largest rail system and affect every mode of transportation. Transportation officials said another 60,000 vehicles could be on the road, clogging highways and bridges throughout the region.

Traffic at a toll plaza of the San Francisco-Oakland Bay Bridge was heavier than usual early Monday. People also lined up to take buses that were leaving from a few Bay Area Rapid Transit stations.

Alameda-Contra Costa Transit buses into San Francisco carried more passengers, with some waiting for more than a half-hour to board, riders and bus drivers said.

“It’s pretty crazy,” said Young Choi, 34. “It’s creating a pretty chaotic feeling in terms of the commute situation.”

Choi, an architect in San Francisco’s financial district, got dropped off by a friend in Berkeley from Walnut Creek around 6:30 a.m. so he could catch a bus after hearing about the strike.

He normally left for work later but was navigating a new route so he wanted to get an early start.

Alejandro Illidj, 20, woke up two hours earlier than usual to get to his job at Nordstrom in San Francisco, but he had to wait for a bus with room to accommodate him.

“More power to the unions, but at the end of the day, how are we supposed to get to work?” said Illidj, a University of California, Berkeley student. “How is the economy supposed to work?”

The strike was called after an 11th-hour effort failed to produce a new contract by the deadline of midnight Sunday. Both the unions and management said they were far apart on key sticking points including salary, pensions, health care and safety. BART workers picketed outside stations Monday.

“A strike is always the last resort and we have done everything in our power to avoid it,” said Josie Mooney, a negotiator for Service Employees International Union Local 1021.

“Our members aren’t interested in disrupting the Bay Area, but management has put us in a position where we have no choice,” said Antonette Bryant, president of Amalgamated Transit Union Local 1555.

Negotiations fell apart Saturday and the unions walked away from the table. California Gov. Jerry Brown’s office had urged both sides to resume discussions Sunday with rush hour on the horizon.

But talks between the two sides came to an end Sunday night with BART accusing negotiators of walking away from the bargaining table, while the SEIU countered in a statement that management “threw in the towel.”

The unions, which represent nearly 2,400 train operators, station agents, mechanics, maintenance workers and professional staff, want a 5 percent raise each year over the next three years. BART said train operators and station agents in the unions average about $71,000 in base salary and $11,000 in overtime annually. The workers also pay a flat $92 monthly fee for health insurance.

BART spokesman Rick Rice said the agency had upped its original offer of a 4 percent pay increase over the next four years to 8 percent. The proposed salary increase is on top of a 1 percent raise employees were scheduled to receive Monday, Rice added.

The transit agency also said it offered to reduce the contribution employees would have to make to pensions, and lower the cost for health care premiums.

BART’s last strike lasted six days in 1997. The transit agency handles more than 40 percent of commuters coming from the East Bay to San Francisco with the Bay Bridge handling another 50 percent said John Goodwin, a spokesman for the Metropolitan Transportation Commission.

Other transit agencies in the region urged commuters to consider carpooling, taking buses or ferries, working from home and, if they must drive to work, to leave earlier or even later than usual.

San Francisco Mayor Ed Lee said the city will offer increased transportation options, including at the airport. BART said it will let commuters use parking lots at their 33 stations free of charge for the purpose of carpooling.

___

Zaveri reported from Berkeley, Calif.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Article source: http://www.myfoxphoenix.com/story/22728984/sf-bay-area-braces-for-first-day-of-transit-strike

San Diego-based DataQuick said Thursday that the March results were due to demand continuing to outstrip supply in many areas.

DataQuick says 7,263 new and resale houses and condos sold in the nine-county area last month, up 34.4 percent from February but down 6 percent from March 2012.

The median price paid in March was $436,000, an increase of 7.7 percent from $405,000 in February and up 21.8 percent from $358,000 in March 2012.

DataQuick says transactions of $500,000 or greater helped push the median sale price up.

The Associated Press

Article source: http://www.utsandiego.com/news/2013/apr/18/supply-affects-sf-bay-area-march-home-sales/

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The real estate tracking firm DataQuick says San Francisco Bay area home sales dipped in March compared to the same period in 2012, but the median price rose on a year-over-year basis for the 12th consecutive month.

San Diego-based DataQuick said Thursday that the March results were due to demand continuing to outstrip supply in many areas.

DataQuick says 7,263 new and resale houses and condos sold in the nine-county area last month, up 34.4 percent from February but down 6 percent from March 2012.

The median price paid in March was $436,000, an increase of 7.7 percent from $405,000 in February and up 21.8 percent from $358,000 in March 2012.

DataQuick says transactions of $500,000 or greater helped push the median sale price up.

Copyright Associated Press

Article source: http://www.nbcbayarea.com/news/local/Supply-Affects-SF-Bay-Area-March-Home-Sales-203631541.html

WALNUT CREEK, CA, Feb 27, 2012 (MARKETWIRE via COMTEX) –
The San Francisco Bay Area Insurance Agency, general agency of
Massachusetts Mutual Life Insurance Company (MassMutual), today
announced that Amy Liu was awarded the prestigious “Freshman Five”
first-year award for outstanding performance as a financial services
agent. The highly competitive award is given to the five
best-performing agents out of the approximately 1500 first year
associates in MassMutual’s 85 national offices who completed their
first year as an agent in 2011. Ms. Liu is the SF Bay Area Insurance
Agency’s sixth Freshman Five qualifier in the past eight years.

Ms. Liu started her career in financial services in May 2010 after
earning an MBA and spending over ten years in high technology
corporate and product marketing. “I always had a passion for the
financial services industry and always wanted to help people and
decided I wanted to make this my career,” she explained. “I
researched many of the large financial services firms, doing my due
diligence, and was most impressed with MassMutual and approached the
SF Bay Area Insurance Agency about opportunities.”

To develop her business and build her client base, Ms. Liu says she
spent the first month at the Agency simply observing the senior
financial professionals to learn as much as possible, and then
started talking to her friends and family about their financial
problems and concerns. “I never pressured people to buy anything but
instead discussed how to address their concerns and then helped them
solve those problems. And once I had worked through my market of
friends and family I have enjoyed receiving many referrals. Beyond
that, I have been working very hard to participate in social and
professional networking events to meet even more people and continue
to expand my relationships,” she says.

“Amy is doing exceptional work in her first year, which is the only
way she could achieve this high honor,” said Robert Fakhimi, CEO and
Managing Partner, San Francisco Bay Area Insurance Agency. “She is
very conscientious, smart, understands how to connect with people and
is working very hard to manage her clients’ financial needs. We are
thrilled to have another Freshman Five honoree this year.”

Ms. Liu’s designation as a Freshman Five award winner continues the
successful tradition of the Agency. Other recent Agency honors
include the qualification of financial professional Tony Delumen for
the MassMutual Chairman’s Club for 2012, an award given to only 10 of
the 5300-plus agents at MassMutual, and the awarding of the First in
Class honor to General Agent Robert Fakhimi.

As a MassMutual general agency, the San Francisco Bay Area Insurance
Agency leverages the resources of a 161-year-old, Fortune 500 company
(March 11th, 2011) with local expertise on helping clients achieve
their financial goals. The agency offers a broad range of products
and services, including life insurance, annuities, disability income
insurance, long-term care insurance, and retirement planning products
and services. The Agency is headquartered in Walnut Creek and has
field offices in Milpitas, Fremont, Palo Alto and San Francisco.

About the San Francisco Bay Area Insurance Agency Inc.
With roots
going back to 1891, the San Francisco Bay Area Insurance Agency Inc.
is a significant contributor to the local economy, as shown by the
following figures about the San Francisco Bay Area Insurance Agency
and its detached offices (as of December 31, 2010):

        --  More than 36,000 policyholders and clients(1)
        --  Managing over $863 million in assets (including assets and certain
            external investment funds managed by MassMutual and its subsidiaries)
        --  More than $4.7 billion in life insurance face amount in force(2)
        --  Will return more than $8.3 million in dividends to its participating
            policyholders in 2010(3)

Robert Fakhimi is CEO and Managing Partner of the San Francisco Bay
Area Insurance Agency Inc. Recently named as one of the Bay Area’s
Best Places to Work, the agency is headquartered in Walnut Creek with
branch offices in San Francisco, Fremont and Milpitas. Mr. Fakhimi
can be reached at 888-803-3631, ext. 320 or by e-mailing him at
rfakhimi@financialguide.com. Securities and investment advisory
services offered through qualified registered representatives of MML
Investors Services LLC, member SIPC, Inc. 2121 N. California Blvd.
Suite 395, Walnut Creek, CA 94596, (925) 979-2300.

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

For more information, visit massmutual.com.

(1) An insured, owner, or payer of a MassMutual policy or contract.

(2) Amount of individual life insurance in force at the end of the
period related to products issued by Massachusetts Mutual Life
Insurance Company and its subsidiaries, C.M. Life Insurance Company
and MML Baystate Life Insurance Company.
(3) The amount of
dividends to whole life policyholders in 2010.

        Contact:
        Erica Zeidenberg
        925-631-0553

SOURCE: San Francisco Bay Area Insurance Agency

Copyright 2012 Marketwire, Inc., All rights reserved.

Article source: http://www.marketwatch.com/story/san-francisco-bay-area-insurance-agency-financial-professional-awarded-top-massmutual-freshman-year-honor-2012-02-27

The renowned San Francisco Crystal Springs Golf along with new partner LUNEX Telecom successfully conducted the San Francisco Bay Area Corporate Golf Cup recently, at the scenic Monarch Bay Golf Links in San Leandro, California. Portion of the proceeds from the event will benefit the Ramos Peace Development Foundation.

Consul General Marciano Paynor, Jr. of the Philippine Consulate, an avid golfer himself, and LUNEX Telecom CEO Darren Dat Lu, hit the ceremonial tee off along with members of the host San Francisco Crystal Springs Golf, led by its founders Mario Panoringan and Paul “Jun” Cusing.

Competition formats included Team Competition with 4 players to play and 3 to count and individual honors using the blind Callaway system with trophies awarded to the Team Champions, Low Gross and Low net winners, along with runners up trophies for Classes AB.

Winners in the Team Championship format are Jeffrey Alota, Manny Dagdagan, Alex Magpantay and Arthur Suratos from the Bay City Golf Club; Low Gross, Joe Villanueva from the host San Francisco Crystal Springs Golf; Low Net Class A – Jeffrey Alota/Champion, Cesar Orozco/Runner Up; Low Net/Class B – Ramon Santiago/Champion and Nhonie Sumajit/Runner Up. Closest to the Pins Contest included Beth Menchavez-Griffith, Alex Magpantay, Cesar Orozco and Marvie Cacho.

Participating teams included Bay City Golf Club, SFPGA Golf, Mabuhay EBB Golf Club, Bay Area Golf (BAGO) and PAGA of San Jose.

The tournament was preceded by a barbeque lunch sponsored by Outback Steakhouse of Daly City, with dinner following immediately after the game at the Monarch Bay Grille Restaurant. Major contributors included Lucky Chances Casino as Beverage Cart Sponsor, JADEL Jewelers as Birdie Sponsor, with Fil Am Star, Philippine News and Philippines Today as Media Sponsors. Other sponsors were Bayanihan Cargo, Secret Lingerie by Celinda, Kadoks Restaurant, WHR Tours Travel, Air Travel Center, Jun Cabansagan, Dave’s Produce, Monarch Bay Golf Links and Nation Home Mortgage Realty.

The Committee was comprised of Zenon Carlos as Tournament Director, along with Paul “Jun” Cusing, Mario Panoringan and Joe Villanueva as Co-Chairs. Committee members were: Gil Abad, Jun Cabansagan, Gerry Galvan, Rico Galvan, Fred Ison, Manolo Linsangan, Den Luzon, Archie Macahito, Nes Morales, Rudy Ordes, Bobby Rastrullo, Mike Tan and William Sales, with Gerry Pangilinan and Rey Guarin as official photographers.

Article source: http://www.asianjournal.com/community/community-news/14821-1st-lunex-sf-bay-area-corporate-golf-cup-a-success.html

WALNUT CREEK, CA, Jan 30, 2012 (MARKETWIRE via COMTEX) –
The San Francisco Bay Area Agency, a local office of the MassMutual
Financial Group, today announced that Tony Delumen, 34, and an
eighth-year agent, has qualified for the prestigious MassMutual
Chairman’s Club for 2012, an honor bestowed to the top 10 career
agents annually, from among 5300 agents around the US.

The Chairman’s Club recipients are the top 10 annual producers of the
entire MassMutual pool of more than 5300 agents and are considered
the pinnacle of MassMutual’s sales force. The honor recognizes the
individuals who have achieved the highest levels of all-around sales
and performance during the previous year.

“This is an incredible distinction for Tony, who has been an
outstanding member of our team since he joined the Agency,” said
Robert Fakhimi, General Agent of the San Francisco Bay Area Insurance
Agency. “He is continually attaining the highest levels of
achievement in the company by delivering extraordinary service to his
clients. This latest honor is a testament to Tony’s diligence, hard
work and supreme skills in the field.”

Other achievements by Delumen include both the title of 2009 Top
Premium Producer and Top Annuity Producer over the more than 5000
MassMutual career agents in the company’s 84 national offices. He
also earned the prestigious Freshman 5 award for his performance
during his first year as an agent, given to only five MassMutual
first-year agents nationally each year. Plus he was named Agent of
the Year four years in a row in the local office.

Delumen’s latest award continues the top achievements of the overall
SF Bay Area Insurance Agency. In the last seven years, this firm,
with Fakhimi as general agent, has developed six Freshman 5 award
honorees. In addition, the Agency has been honored with the
MassMutual Chairman’s Trophy for performance eight times in the last
nine years. The award is a reflection of an agency’s accomplishments
in revenue growth, recruitment and productivity.

About the San Francisco Bay Area Insurance Agency Inc.
With roots
going back to 1891, the San Francisco Bay Area Insurance Agency Inc.
is a significant contributor to the local economy, as shown by the
following figures about the San Francisco Bay Area Insurance Agency
and its detached offices (as of December 31, 2010):

        --  More than 36,000 policyholders and clients(1)
        --  Managing over $863 Million in assets (including assets and certain
            external investment funds managed by MassMutual and its subsidiaries)
        --  More than $4.7 billion in life insurance face amount in force(2)
        --  Will return more than $8.3 million in dividends to its participating
            policyholders in 2010(3)

Robert Fakhimi is CEO and Managing Partner of the San Francisco Bay
Area Insurance Agency Inc. Recently named as one of the Bay Area’s
Best Places to Work, the agency is headquartered in Walnut Creek with
branch offices in San Francisco, Fremont and Milpitas. Mr. Fakhimi
can be reached at 888-803-3631, ext. 320 or by e-mailing him at
rfakhimi@financialguide.com. Securities and investment advisory
services offered through qualified registered representatives of MML
Investors Services LLC, member SIPC, Inc. 2121 N. California Blvd.
Suite 395 Walnut Creek, CA 94596 (925) 979-2300.

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

For more information, visit massmutual.com.

(1) An insured, owner, or payer of a MassMutual policy or contract.

(2) Amount of individual life insurance in force at the end of the
period related to products issued by Massachusetts Mutual Life
Insurance Company and its subsidiaries, C.M. Life Insurance Company
and MML Baystate Life Insurance Company.
(3) The amount of
dividends to whole life policyholders in 2010.

        Contact:
        Erica Zeidenberg
        925-631-0553

SOURCE: SF Bay Area Insurance Agency

Copyright 2012 Marketwire, Inc., All rights reserved.

Article source: http://www.marketwatch.com/story/san-francisco-bay-area-insurance-agency-advisor-attains-national-massmutual-honor-awarded-to-only-ten-agents-annually-2012-01-30

Firm’s CEO Robert Fakhimi Wins National Award

WALNUT CREEK, CA–(Marketwire – March 14, 2011) – The MassMutual Financial Group has announced that the San Francisco Bay Area Insurance Agency, under the leadership of CEO Robert Fakhimi, has earned an eighth Massachusetts Mutual Life Insurance Company’s (MassMutual) National Chairman’s Trophy. With this most recent trophy, Fakhimi’s agency has received the prestigious award for performance in eight of the last nine years.

MassMutual has an extensive field force of more than 5211 agents in 84 national offices. The Chairman’s Trophy reflects an individual agency’s accomplishments in revenue growth, recruitment and productivity. Only a select group of general agents win the award annually.

“My team always puts our clients first and everyone is highly motivated to do an exceptional job,” Fakhimi said. “Our support services and I consistently dedicate ourselves to encouraging the career field agents to reach their full potential and work effectively with clients to help them achieve their financial goals.”

The San Francisco Bay Area Insurance Agency has produced numerous outstanding career professionals since General Agent Robert Fakhimi joined as head of the office in 2001. Agents from San Francisco Bay Area Insurance Agency are top performers — the office has produced esteemed Freshman Five honors five times in the last seven years. This year the agency led all MassMutual Agencies in Annuities Production as well as overall total premium. The Agency is headquartered in Walnut Creek, with additional offices in San Francisco, Roseville, Fremont and Milpitas.

About the San Francisco Bay Area Insurance Agency LLC

With roots going back to 1891, the 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 and its detached offices (as of December 31, 2010):

• More than 36,000 policyholders and clients¹

• Managing over $863 Million in assets (including assets and certain external investment funds managed by MassMutual and its subsidiaries)

• More than $4.7 billion in life insurance face amount in force²

• Will return more than $8.3 million in dividends to its participating policyholders in 2009³

Robert Fakhimi is CEO and Managing Partner of the San Francisco Bay Area Insurance Agency LLC. Headquarters is in Walnut Creek and branch offices are located in San Francisco, Fremont and Milpitas. Mr. Fakhimi can be reached at 888-803-3631, ext. 320 or by e-mailing him at rfakhimi@finsvcs.com. Securities and investment advisory services offered through qualified registered representatives of MML Investors Services, member SIPC, Inc. 2121 N. California Blvd. Suite 395 Walnut Creek, CA 94596 (925) 979-2300.

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

For more information, visit massmutual.com.

¹ An insured, owner, or payer of a MassMutual policy or contract.
² Amount of individual life insurance in force at the end of the period related to products issued by Massachusetts Mutual Life Insurance Company and its subsidiaries, C.M. Life Insurance Company and MML Baystate Life Insurance Company. 
³ The amount of dividends to whole life policyholders in 2009.

Contact:
Erica Zeidenberg
925-631-0553

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Article source: http://www.marketwire.com/press-release/MassMutuals-San-Francisco-Bay-Area-Insurance-Agency-Awarded-Chairmans-Trophy-Eighth-1410497.htm

High achieving students of African-American/Black, Asian/Pacific Islander, or Hispanic descent who reside in or attend a college in Northern California may apply for one of three $5,000 college scholarships. Applicants must meet certain academic criteria and must express an interest in pursuing a career in the insurance and financial services industry. Students of all majors will be considered. Scholarship winners will have the opportunity to network with professionals in the industry and may be eligible for internships.

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, General Agent, San Francisco Bay Area Insurance Agency. “These scholarships will, ultimately, help us better serve Northern California’s increasingly diverse community.”

This marks the third consecutive year that the SF Bay Area Insurance Agency has participated in the scholarship program with MassMutual. 

“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 2^nd, 2011, 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 2011-2012 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.
• Students of all majors will be considered.
• Preference will be given to students whose essays express their interest in pursuing a career in the insurance and financial services industry as well as demonstrate leadership and participation in extracurricular activities.
• Must apply for federal financial aid by completing the Free Application for Federal Student Aid (FAFSA).

For more information on how to apply or to obtain an application, visit www.hsf.net/massmutual.aspx.

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.

Article source: http://pr-usa.net/index.php?option=com_content&task=view&id=635025&Itemid=28