General Motors is joining a network of other large corporations to support financial literacy. The nonprofit Financial Literacy 4 All (FL4All) features the CEOs of Walmart, Delta Airlines, Disney, the National Football League (NFL), the National Basketball Association (NBA), Bank of America, PayPal, and education company Khan Academy. Founded in 2021, the nonprofit plans to offer education assistance to teens and adults and currently lists a resource library for those interested in learning more about finance, budgeting, and investing. While the website appears to still be under construction, adding GM to the corporate sponsorship team should help pave the way for great things!
GM Financial Should be a Big Benefit to FL4All
As a seller of new vehicles that tend to be financed (paid for through loans), General Motors is well positioned to help with financial literacy outreach. GM has its own finance division – GM Financial – and a financial education program through that division known as KEYS. The program offers several financial literacy classes beyond simply buying a car! These online courses would benefit high school and college students in introductory financial literacy classes.
Bank of America Also Offers Education Help for FL4All
GM could get plenty of bang for its buck in assisting FL4All by partnering with fellow philanthropist Bank of America. Both corporations lend lots of money to Americans and are staples of the economy. Not surprisingly, Bank of America offers its own financial literacy online courses. It offers more courses, including more specific courses related to budgeting and finance, but its curricula also appears aimed at teens and college students.
Khan Academy Offers Help as the Education Guru
When it comes to educating the public, it’s hard to beat having Khan Academy on your team. GM and BoA may be experts on business and finance, but Khan Academy knows how to teach. As the official tutor of College Board, which hosts the famous SAT and AP tests for high school students, Khan Academy has an excellent knowledge delivery system. Fortunately, Khan Academy also has a personal finance course available! Its personal finance material is created in partnership with Bank of America, so there’s already some cross-donor networking among FL4All members.
Nobody Does Video Education Content Like Disney
High-quality videos are an excellent way to engage people in the learning process, so who better to have on your financial literacy education team than Disney? As an excellent businessman, Walt Disney himself had plenty of business and finance advice. And licensed characters and content from Disney could go a long way toward making engaging videos that would hold the attention of teenagers. Disney itself has even gotten in on the finance education game before, hosting learning exhibits in its theme parks. For interactive entertainment, it’s hard to outdo the company with a renowned chain of theme parks worldwide!
Through its Disney Institute, the entertainment giant has pledged to host leaders of the other philanthropist companies as they work out a plan for FL4All. All this help makes good fiscal sense, too: businesses benefit when consumers have more money they can spend on goods and services!