Webster Bank Celebrates Opening of Waterbury-based Finance Lab

Published on July 11, 2024 | Webster Bank

Webster Bank, together with the Hispanic Coalition of Greater Waterbury, today celebrated the opening of the Webster Bank/Hispanic Coalition Finance Lab, a program created to provide students the skills needed for financial empowerment and future financial well-being. The program is funded by a $100,000 grant from Webster and is Webster’s fifth Finance Lab location. By year end, Webster will have invested $1.7m into its Finance Lab initiative throughout the footprint.

The Webster/Hispanic Coalition Finance Lab is part of a signature initiative designed to help Webster’s partners in low- to moderate-income (LMI) communities expand financial empowerment and improve financial literacy for youth. The Hispanic Coalition grant funds will be used to help high school students improve their skills to develop strategies for financial success. Students will be recruited via community outreach and referrals through the Coalition’s partnership with Waterbury Public Schools.

“We are proud to partner with the Hispanic Coalition to open our third Finance Lab in Connecticut in Webster’s founding city of Waterbury,” said Marissa Weidner, Chief Corporate Responsibility Officer at Webster Bank. “Webster is committed to investing in programs that broaden financial empowerment opportunities, help build our future workforce and offer Waterbury youth the tools and resources to learn more about finance and prepare themselves and their families for a healthy financial future.”

In October, Webster will celebrate the opening of its sixth Finance Lab with the Taunton (Mass.) Area School to Career (TASC); the Bank expects to expand the initiative further in 2025.

“Webster Bank, committed to their founding purpose, continues to place their community first and genuinely respond to the ever-changing needs of our residents. Our unique and innovative partnership has established a Webster Finance Lab, which provides students access to a community based and life-changing opportunity to achieve future financial success,” said Victor Lopez, executive director of the Hispanic Coalition of Greater Waterbury Inc.

In existence since 1988, the Hispanic Coalition has more than three decades of social services experience in the greater Waterbury area and is a principal leader for bilingual services, advocacy, collaboration, education and policy development in the Latino community.

Local and state dignitaries, including Waterbury Mayor Paul Pernerewski Jr. joined Webster leaders to officially open the program housed at the Coalition’s location on Mill Street. The participants will engage in hands-on learning opportunities including job shadowing, internships, and sessions with mentors from Webster Bank.

About Webster

Webster Bank (“Webster”) is a leading commercial bank in the Northeast that provides a wide range of digital and traditional financial solutions across three differentiated lines of business: Commercial Banking, Consumer Banking and Healthcare Financial Services, one of the country’s largest providers of employee benefits and administration of medical insurance claim settlements solutions. Webster is a values-driven organization headquartered in Stamford, CT, with $77 billion in assets. Its core footprint spans the northeastern U.S. from New York to Massachusetts, with certain businesses operating in extended geographies. Webster Bank is a member of the FDIC and an equal housing lender. For more information about Webster, including past press releases and the latest annual report, visit the Webster website at www.websterbank.com.

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