CAEL Receives $15.7 Million Grant from the Truist Foundation to Strengthen Career Pathways in Financial Services | News
Partnership with the Council for Adult and Experiential Learning will establish support and training for adult learners entering financial services and adjacent industries
INDIANAPOLIS, May 9, 2022 /PRNewswire/ — The Council for Adult and Experiential Learning (CAEL), a non-profit organization that helps adult learners navigate between education and employment, today announced that it has received a $15.7 million grant from the Truist Foundation. The CAEL and Truist Foundation partnership encompasses a six-year, multi-city initiative that prioritizes Black, Indigenous, and People of Color (BIPOC) and underserved communities by creating career paths in professions and industries that were historically inaccessible to them, such as financial services.
“Our work with CAEL will provide the tools that adult learners, workforce organizations, post-secondary institutions and service providers need to ensure individuals can secure employment and thrive in previously inaccessible industries. “, said Lynette Bell, president of the Truist Foundation. “Beyond our grant, Truist Bank intends to partner with CAEL to hire some of the talented adult learners who participate in the initiative’s career paths.”
A champion of adult learner success for over 40 years, CAEL has established and developed partnerships with workforce organizations, employers, post-secondary institutions, regions and communities across the country. CAEL will partner with nationally recognized organizations for this initiative, including CareerWork$ (BankWork$ program), UniversityAPPLICATION, Emsi Burning Glass, PAIRINGand Riipen.
The supportive ecosystem created by CAEL’s work and its partnership with the Truist Foundation will enable adult learners to access meaningful employment while creating and maintaining a diverse talent pool for the financial services industry. This initiative will be rolled out to five communities over the next six years.
CAEL’s partnership with the Truist Foundation will:
- Partner with local community colleges and post-secondary institutions to ensure that all adult learners have access to affordable distance and in-person courses with flexible schedules and programs, prioritizing efficiency for women and BIPOC adult learners.
- Partner with local Workforce Development Councils.
- Provide support and resources to labor organizations in the region to connect more job seekers to better paying jobs and long-term career opportunities.
- Provide training and tools to organizations in the financial services industry to encourage them to hire talented and diverse adult learners and support them as candidates and employees, setting them up for success.
- Explore potential partnerships with service providers such as local child care centres, transportation services, mental health organizations and other areas to ensure services are available and accessible, enabling adult learners to cope with fewer barriers when entering the financial services workforce.
This comprehensive support system aims to empower women, BIPOC and other underrepresented adult learners to secure, persist and excel in their careers.
“A lack of coordination between post-secondary institutions, employers and workforce organizations has limited opportunities to promote diversity, equity and inclusion in many industries, including financial services,” said declared Earl Buford, President of CAEL. “This generous support from the Truist Foundation will enable CAEL to establish collaboration between educators, workforce developers, employers and service organizations to create more equitable and comprehensive pathways to financial and adjacent industries for adult learners who have long faced systemic barriers to rewarding professions.”
Costly barriers such as education, transportation, and child care prevent many qualified people from seeking job opportunities. CAEL’s work and partnership with the Truist Foundation will elevate individuals on a challenging career path, diversify the financial services industry, provide opportunities for individuals to generate lasting and generational wealth, and provide support and resources to financial organizations. workforce and educational institutions.
Recognizing that adult learners are the backbone of the American economy, CAEL helps forge a clear and viable link between education and career success, providing solutions that promote sustainable and equitable economic growth. CAEL opens doors to opportunity in collaboration with labor and economic developers, post-secondary educators, employers and industry groups, as well as foundations and other mission-aligned organizations. By engaging with these stakeholders, we foster a culture of innovative lifelong learning that helps individuals and their communities thrive. A national membership organization established in 1974, CAEL is part of Strada Collaborative, a non-profit, mission-driven organization. Learn more about cael.org and stradacollaborative.org.
About the Truist Foundation
The Truist Foundation is committed to achieving Truist Financial Corporation’s (NYSE:TFC) goal of inspiring and building better lives and communities. Established in 2020, the foundation makes strategic investments in nonprofits to help ensure the communities it serves have more opportunities for a better quality of life. Truist Foundation grants and activities focus on creating career paths to economic mobility and strengthening small businesses. Learn more about Truist.com/Purpose/Truist-Foundation.
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SOURCE The Council for Adult and Experiential Learning (CAEL); Truist Foundation