Grant From Eastern Bank Charitable Foundation Will Help Empower Women To Be Successful First-Time Homebuyers in Boston
Dorchester, MA - October 11, 2018 - MAHA, a Dorchester-based non-profit focused on breaking down barriers for first-time homebuyers, announced today it has received a $10,000 Targeted Grant from Eastern Bank, America's oldest and largest mutual bank. The grant will support a special Women-to-Women first-time homebuying series starting on October 27th in Dorchester. Women can register for the class today at www.mahahome.org.
Each year, the Eastern Bank Charitable Foundation’s Targeted Grant program supports hundreds of community-based organizations working for progress on a specific issue in Eastern’s New England footprint. In 2018, in celebration of the Bank’s 200th anniversary and to honor its first depositor, Rebecca Sutton, Targeted Grants have been designated to support organizations addressing a range of issues that disproportionately impact women, such as sexual assault, domestic violence, human trafficking, health care, pay equity, and senior management and board representation. MAHA is among 170 nonprofits each receiving a $10,000 grant. In total, Eastern is granting $1.7 million in Targeted Grants this year to nonprofits in communities from New Hampshire to Cape Cod and throughout the South Shore, North Shore, Metro West, Merrimack Valley and Greater Boston.
“This class will educate and inspire women”, said Hilda Fernandez who will lead MAHA’s Women-to-Women efforts. “It's also a great opportunity for women to meet and encourage each other as they follow their individual paths to homeownership and realize their dream. ‘I am my sister's keeper’.”
MAHA is thrilled to offer this special series, taught by women for women, thanks to the support of Eastern Bank. Class presenters will include an all-female lineup of a loan officer, attorney, insurance agent, home inspector, and real estate agent. Boston City Councilor At-Large Annissa Essaibi-George will present graduation certificates to each participant on Saturday, November 3rd.
In the United States, women are the sole or primary breadwinners in 40 percent of households with children under 18 - a share that has quadrupled since 1960, according to the Pew Research Center. Two-thirds of those are single mothers. Women homebuyers are an important part of the future homebuying market, yet studies show that single women are denied mortgages at higher rates than single men, despite the fact that they are more reliable than men when it comes to actually paying their mortgages.
Eastern’s Targeted Grant program this year creates new opportunities and resources for women in areas where assistance is needed the most. The facts are staggering:
- A woman is assaulted every nine seconds in the U.S. and one in three women has been a victim of physical brutality by an intimate partner, making intimate partner violence the single greatest cause of injury to women.
- In Massachusetts, women earn 83 cents for every dollar paid to men. In New Hampshire, they earn 76 cents. African-American women nationwide earn 64 cents for every dollar earned by white men, and Latinas—only 56 cents.
- In the sciences, women represent less than 25% of those employed in computer and mathematical occupations and only 15% in architecture and engineering. For women of color, this gap is even wider. Asian women, African-American women, and Latinas make up less than 10% of working scientists and engineers in the U.S.
- Women receive more graduate degrees and they hold more faculty positions in colleges and universities, and yet, men hold the highest number of tenured university positions.
- Only 32 women run Fortune 500 companies and only two are women of color. Less than 20% of all board seats in Fortune 1,000 companies are held by women.
“We believe in breaking down the barriers that stand between people and prosperity. That’s why Eastern is a strong advocate for the advancement of women,” said Bob Rivers, Chair and CEO of Eastern Bank. “With each Targeted Grant, we aim to enhance the lives of our neighbors and contribute to real progress around the advancement of women in our local communities. On behalf of everyone at Eastern, we congratulate this year’s Targeted Grant recipients and thank them for working to level the playing field.”
For a complete list of the 2018 Targeted Grant recipients, click here.
About Eastern Bank
Founded in 1818 and celebrating its 200th anniversary in 2018, Boston-based Eastern Bank is America’s oldest and largest mutual bank, with $11 billion in assets and over 120 locations serving communities in eastern Massachusetts, southern and coastal New Hampshire and Rhode Island. Eastern provides exceptional access to fairly priced banking, investment and insurance products and services for consumers and businesses of all sizes, and for the eighth consecutive year is the #1 U.S. Small Business Administration lender in New England. Eastern Bank, which includes Eastern Wealth Management and Eastern Insurance, is known for its outspoken advocacy and community support that has exceeded more than $110 million in charitable giving since 1999. The Eastern Bank Charitable Foundation is a leader in corporate philanthropy and serves as the charitable arm of Eastern Bank. An inclusive company, Eastern employs 1,900+ deeply committed professionals who value relationships with their customers, colleagues and communities. Join us for good at www.easternbank.com and follow Eastern on Facebook, LinkedIn, Twitter and Instagram.