BUFFALO, N.Y., Nov. 21, 2013 -- Job loss is a major reason why homeowners fall behind on their mortgage loan payments. M&T Bank is the first financial institution in New York State and the second nationwide to take a proactive approach to aid some of their distressed and delinquent borrowers.
Recently, M&T became aware of a reemployment solutions company called NextJob, Inc., a nationwide firm designed to assist the unemployed with the improvement of their position in the workforce. M&T has been so impressed with NextJob's Homeowner Reemployment Program that it has decided, on a pilot basis, to introduce some of its borrowers to NextJob, which will offer to work with the borrowers and assist them in their job-search efforts. NextJob's services, which are further described below, will be offered at no cost to the borrowers.
"As a bank that is committed to the customers and communities we serve, our goal is to make home ownership viable whenever possible," says Mark Mendel, Customer Asset Management Senior Vice President.
Participants will work directly with a NextJob coach to:
- Develop and execute a detailed job search action plan
- Create an effective resume and cover letter designed to get the attention of hiring managers
- Analyze career direction options and identify skills that could transfer to another industry or field
- Discover and network to land "hidden" jobs that are open but never advertised
- Learn how to effectively use the latest in internet tools and techniques
- Prepare for interviews that, hopefully, help them land their next job
NextJob President John Courtney said, "M&T's commitment to this pilot demonstrates that, together, we can find new solutions to old problems."
While following up and working directly with NextJob does not guarantee employment or prevent M&T Bank from taking action to collect any debt or commence proceedings for enforcement of the customer's mortgage loan, M&T Bank believes that customers in need of help will benefit from their choice to partner with NextJob.
In 2012, Fifth Third Bank, based in Cincinnati, Ohio, was the first bank in the nation to work with NextJob on implementing this innovative reemployment training program. Customers who participated in the initial pilot program had been out of work for approximately 22 months. After completing the training, almost 40 percent of participants were fully employed within six months.
About M&T Bank
M&T Bank, established in Buffalo, N.Y., in 1856, is one of the top 20 independent commercial bank holding companies in the nation, with $83 billion in assets and more than 725 branch offices in New York, Pennsylvania, Maryland, Delaware, Virginia, West Virginia and the District of Columbia.
Headquartered in Bend, Oregon, NextJob is a nationwide firm focused on full employment in America. Founded on the Golden Rule, its mission is to provide creative reemployment solutions for employers, lenders, government, schools and others to help job seekers land jobs and avoid the many impacts of unemployment. NextJob's service provides high quality, one-on-one job coaching and multimedia online learning that is highly effective, affordable and accountable. To learn more, visit www.nextjob.com.
*Unless otherwise specified, all advertised offers and terms and conditions of accounts and services are subject to change at any time without notice. After an account is opened or service begins, its features and terms are subject to change at any time in accordance with applicable laws and agreements.
Media Contact Information:
Ann M. Schlifke