It was recently announced that GM is adding its support to the Financial Literacy for All (FL4A) initiative, a national effort that aims to embed financial literacy into American culture.
GM joins Financial Literacy for All alongside The Hershey Company and Tyson Foods as three of the latest major companies to pledge support for the initiative. FL4A is already backed by Walmart, Disney, the NFL, the NBA, Delta Air Lines, Walgreens, Bank of America, Khan Academy, BlackRock, NASCAR, Nike, Uber, Wells Fargo, and several others.
“We are honored to have these iconic companies, who represent the best of American ingenuity, lend their influential voice to this movement,” said Founder and CEO of Operation HOPE, John Hope Bryant. Operation HOPE serves as the American non-profit organization behind the FL4A initiative.
“We look forward to collaborating with the innovative leadership at General Motors, The Hershey Company and Tyson Foods to grow our impact as we work to help everyone build a better future,” Bryant added.
The FL4A initiative was launched in May of 2021 and is Co-Chaired by Walmart CEO Doug McMillion. The decade-long initiative aims to reach millions of youth and working adults to provide them with the tools and life experience needed make good financial decisions and provide greater wellbeing for themselves, their families, and their communities.
Notable founding leaders of the FL4A initiative include the CEO of Delta Airlines, Ed Bastian, the CEO of Walgreens Boots Alliance, Rosalind Brewer, the CEO of The Walt Disney Company, Bob Chapek, the CEO of the NFL, Roger Goodell, and the Chairman and CEO of Bank of America, Brian Moynihan.
Per the FL4A website, the initiative aims to make financial literacy easier to understand, while generating public awareness of its importance through direct connections with working adults, as well as providing outreach efforts to middle school, high school, and college students with best practices from both the public and private sectors.
According to a study by the National Financial Educators Council, it’s estimated that financial literacy cost U.S. citizens $415 billion in 2020.