Home Posts tagged People’s United
Daily News

HOLYOKE — People’s United Community Foundation, the philanthropic arm of People’s United Bank, N.A., announced that it has awarded a $5,000 grant to the Community Adolescent Resource and Education Center Inc. (The Care Center), which provides, innovational, educational support programs for low income, pregnant and young mothers (ages 16 – 24) in Holyoke. The grant will help bolster its Bridge to College program, which provides young mothers with in-house college courses for students preparing to take the high school equivalency exam, in addition to support services to promote college access and retention. 

Through the Bridge to College program, approximately 85 women will prepare to take The High School Equivalency Test (Hi-Set) while also gaining exposure to college-level work and receiving support in the college application process. 

“We are so grateful for the important investment People’s United Community Foundation has made in the lives of the young women in this community. With their support, young women have the opportunity to begin their path to college and on to a brighter future,” said Anne Teschner, executive director of The Care Center.

The Bridge to College program helps young mothers traverse the arduous path from high school dropout to college graduate. Similar to college preparatory schools, The Care Center program provides an ideal learning environment including small class sizes, lively academics, and a commitment to their students. Additionally, supportive services such as transportation, daycare, counseling, meals, and a staff nurse practitioner allow them to concentrate on their studies. Each year, approximately 70-80% of The Care Center’s graduates continue to higher education. 

“The Bridge to College program is giving young mothers a second chance and the opportunity to pursue their dreams,” said Patrick Sullivan, Massachusetts president, EVP of People’s United Bank and officer of the Foundation. “We are proud to be able to support them in their mission supporting young women at a time in their lives when that little bit of extra help and support can make all the difference.”

Despite the challenges presented by the pandemic, 42% of the Care Center’s 2020 graduates have already matriculated to college. Since 2016, graduates have had the opportunity to attend Bard Microcollege Holyoke, the nation’s first college designed for young mothers and low-income women. This program has a 74% graduation rate, with graduates going onto pursue Bachelor’s degrees at Smith, Mount Holyoke, Hampshire and Trinity Colleges.

In total, People’s United Community Foundation and People’s United Community Foundation of Eastern Massachusetts collectively awarded more the $325,000 to 57 Massachusetts nonprofits as part of its first grant cycle of 2021.

Daily News

BRIDGEPORT, Conn. — People’s United Bank, N.A. a subsidiary of People’s United Financial Inc., announced the formation of a Business Transformation Office (BTO), a specialized team focused on digitization, process optimization, automation and Fintech partnerships, in addition to supporting product strategy and management for the Bank.

The BTO will formalize People’s United’s approach to defining a repeatable process to provide unique, value-added, digitally driven products and services across business lines that take into account customer expectations for individualized journeys, simple solutions, and innovative ideas.

“The digital age of banking that has emerged over the past decade has changed the way people interact and do business on a day-to-day basis, and technological advancements are influencing the future of banking,” said Jack Barnes, CEO, People’s United Bank. “As we continue to evolve our service model, the BTO will ensure we remain focused on continuous enhancements and personalization of customer touch points including online and mobile banking, ATMs, call centers and in our branches, to provide customers with digital experiences that are custom-made, seamless, fast and secure. The BTO is a reflection of People’s United’s ability to innovate and reconceptualize our offerings in an efficient way.”

The BTO will be led by Ravi Vakacherla, EVP and newly appointed chief transformation officer. He has been with People’s United for more than 15 years and has held various roles, starting in IT, holding the role of chief architect, before transitioning to head of Digital, Product Management and Banking Operations.

“It’s clear the next three years will look much different than the previous three, and we must do our part to retain and attract new customers and adapt to customer preferences,” said Lee Powlus, SEVP, chief administrative officer.

“Through Ravi’s leadership, the BTO will ensure that our strategic plan advances us into the next decade and provides a competitive advantage in delivering customers our products, services and expertise.”