The American College, based in Bryn Mawr, Pa., an institution devoted to financial services. It is known for conferring the Chartered Life Underwriter (CLU) and Chartered Financial Consultant (ChFC) designations, earned by more than 140,000 professionals.
"This gift will allow our college to help soldiers study, while serving in any country, in any capacity, and learn about insurance and financial security before they are redeployed home,” says Larry Barton, president and CEO of The College. “They will enroll in the most rigorous financial study programs in the world, and those who earn their designations and commit to an ethical practice will benefit from this remarkable gift from the people of Penn Mutual."
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“Things may get worse before they get better,” says Allen McLellan, associate dean of The College and a retired Air Force Lt. Colonel. “The unemployment rate among veterans is expected to increase as more soldiers return home from overseas missions in the Middle East. But, thanks to Penn Mutual, The American College will have the resources it needs to reach out to active duty members, reservists and veterans—the heroic men and women of the U.S. armed forces—and offer them their next career of significance. Their hard work, dedication, focus and ability to succeed in the face of seemingly insurmountable odds is exactly what the financial services industry needs during these challenging economic times.”
Penn Mutual says the center will work with a special panel of existing and retired military leaders and insurance industry recruiters to create a Mission Roadmap for soldiers interested in becoming insurance agents and financial advisors. It is anticipated that the first soldiers will graduate from The College with these designations within two years.
