State Farm has launched a series of initiatives to expand its markets while contributing to the economic vitality and safety of low-income neighborhoods. To help reach its goals, State Farm has developed a long-term, strategic business relationship with Neighborhood Reinvestment Corporation and community-based nonprofits that make up the NeighborWorks network.
In Chicago, State Farm partnered with Neighborhood Housing Services (NHS) of Chicago to form the Home Safety Program. Working with the Chicago Fire Department, NHS sponsors inspections of potential safety hazards such as furnaces and electrical systems and provides loans if repairs or replacements are needed. State Farm funds the loans once the homeowners have undergone training in repair and fire safety. The company also established home buying seminars in cooperation with NHS. Corporate representatives explain the home and insurance purchasing process, help with credit repair, and educate prospective buyers on property inspection and upkeep.
Source: www.winwinpartner.com, reprinted with permission.
Topics Mergers & Acquisitions
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