Making the Transition: Military Service to Civilian Life, New Scholarship, Resource Center Established for Military Veterans

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According to recent data from the Bureau of Labor Statistics, the unemployment rate for post-9/11 veterans was 10.9 percent in April, 2011—a full two percent higher than the country’s overall unemployment rate. To assist the more than 135,000 troops still overseas, as well as those that have returned home, two highly respected financial services organizations have created a support center for veterans reentering the workforce - The Penn Mutual Center for Veterans Affairs at The American College.

This $2.5 million gift and scholarship fund is a way to thank members of the armed services and help them smoothly transition back into the workplace.

For military veterans, the transition from service back into civilian life can be a rocky road. According to recent data from the Bureau of Labor Statistics, the unemployment rate for post-9/11 veterans was 10.9 percent in April, 2011—a full two percent higher than the country’s overall unemployment rate. To assist the more than 135,000 troops still overseas, as well as those that have returned home, two highly respected financial services organizations have created a support center for veterans reentering the workforce - The Penn Mutual Center for Veterans Affairs at The American College.

Made possible by a $2.5 million donation from Penn Mutual, the Center for Veterans Affairs actively engages military members in the midst of transitioning out of the service to raise awareness of the opportunities available for them in the financial services industry. Building upon the original military scholarship program The American College began in 2009, the majority of Penn Mutual’s generous donation will sponsor a new gifting program to help fund financial education for veterans. Through The American College, a leading educator of financial services professionals and holder of the highest level of academic accreditation, the Center will also provide the mentoring, education and training to prepare servicemen and women for a successful career.

“Penn Mutual prides itself on opening doors for military veterans returning to civilian life,” Eileen McDonnell, President and CEO of Penn Mutual, stated. “Throughout our history, Penn Mutual has welcomed home our veterans, and many veterans found a home with Penn Mutual. This $2.5 million gift and scholarship fund is a way to thank members of the armed services and help them smoothly transition back into the workplace.”

The Center for Veterans Affairs will be led by Executive Director Russell Figueira, MSM, Senior Vice President at The American College and former Navy officer.

“We are delighted to have Russ at the helm of the Center,” Larry Barton, Ph.D., President and CEO of The American College, said. “During his tenure at The College, he has excelled as both a leader and mentor. His military experience in the Navy further confirms that he is the ideal individual to help our nation’s veterans find rewarding careers in the financial services industry.”

With a board of advisors representing individuals from The American College, Penn Mutual, and third-party organizations, many of whom are veterans themselves, the Penn Mutual Center for Veterans Affairs at The American College offers an expertly blended approach to providing financial services education and training.

All recent veterans are welcome to apply for the scholarship. Learn more by calling 610-526-1200 or e-mailing VeteransScholarship(at)TheAmericanCollege(dot)edu .

About Penn Mutual
Since 1847, Penn Mutual has been driven by our noble purpose to create a world of possibilities. At the heart of this purpose is the belief that life insurance is the most protective, responsible and rewarding action a person can take, and is central to a sound financial plan. The company is committed to helping families unlock life's possibilities through life insurance and annuity solutions. This is accomplished through a national network of financial professionals, who help clients make great things possible. Penn Mutual supports its field representatives with brokerage services through Hornor, Townsend & Kent, Inc., Registered Investment Advisor and wholly owned subsidiary. Member FINRA/SIPC. Visit Penn Mutual on the Internet at http://www.pennmutual.com.

About The American College
The American College is the nation’s largest non-profit educational institution devoted to financial services. Holding the highest level of academic accreditation, The College has served as a valued business partner to banks, brokerage firms, insurance companies and others for over 84 years. The American College’s faculty represents some of the financial services industry’s foremost thought leaders. For more information, visit TheAmericanCollege.edu.

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Eric B. Gordon
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