Northwestern Mutual donates $4.2M to American College

Northwestern Mutual Life Insurance Co. donated $4.2 million over the next five years to the American College, a Bryn Mawr-based financial-service educational institution.

The money will be used to create and fund the Northwestern Mutual Granum Center for Financial Security, which is named after a managing partner of the insurer's Chicago office.

The nonprofit American College said the donation would be the largest single corporate gift it had ever received.

In January 2011, State Farm Insurance donated $2.8 million to create a Center for Women and Financial Services. In March 2012, Cary M. Maguire, chairman and president of Dallas-based Maguire Oil Co., donated $2.5 million to endow a center for ethics.