McDonald’s and Paramount Among Latest Top-Tier Organizations to Join the Financial Literacy for All Movement

Rhea-AI Summary

Financial Literacy for All (FL4A) announced that McDonald’s Corporation (MCD) and Paramount Global (PARA, PARAA) have joined a coalition of nearly 50 leading organizations dedicated to embedding financial literacy into the nation’s schools, workplaces, communities, and culture. FL4A members now make up more than one-quarter of the companies in the Dow Jones Industrial Average and have committed to financial literacy initiatives reaching up to six million people.

Leading Companies Commit to Join 10-Year Initiative Seeking to Engage American Families with Financial Literacy Resources, Tools and Education Where They Live, Work, and Learn

ATLANTA--(BUSINESS WIRE)-- Financial Literacy for All (FL4A), a national initiative dedicated to embedding financial literacy into the nation’s schools, workplaces, communities, and culture, today announced that McDonald’s Corporation (NYSE: MCD) and Paramount Global (Nasdaq: PARA, PARAA) have joined a coalition of nearly 50 leading organizations that have committed to the movement. With these new additions, FL4A members now make up more than one-quarter of the companies that comprise the Dow Jones Industrial Average (DJIA) and have committed to financial literacy initiatives that have the potential to reach a cumulative employee and franchisee base of up to six million people.

Launched in May 2021 by a consortium of leaders from the business, professional sports, entertainment, and non-profit sectors and Operation HOPE, FL4A aims to reimagine the way Americans think about their relationship with money and provide the foundational skills for people to best manage their personal finances and build generational wealth. FL4A is committed to:

• Supporting financial literacy programs for the member organizations’ collective employee base

• Advocating for financial literacy education to be provided to all students as part of their basic education as well as part of lifelong learning for all adults

• Making unbiased and action-oriented financial literacy resources freely available to all through FL4A’s Resource Library

The 10-year initiative, co-chaired by Walmart CEO Doug McMillon and Operation HOPE Founder, Chair, and CEO John Hope Bryant, is reaching millions of youths and adults by meeting them wherever they are on their financial journey, ensuring they have access to and an understanding of the knowledge, tools, and resources they need to make informed financial decisions and take control of their financial lives.

“We are honored to announce that McDonald’s and Paramount have joined our growing FL4A coalition,” said Co-Chair Bryant. “These leading organizations, alongside fellow FL4A Members, have demonstrated their commitment to making financial literacy a fundamental part of life, and a right, for everyone in the nation. Financial literacy is the civil rights issue of this generation, and we’re excited to keep bringing our collective strength in pursuit of our must-do mission.”

To follow the progress of Financial Literacy for All, please visit FL4A.org.

About McDonald’s

McDonald’s (NYSE: MCD) is the world’s leading global foodservice retailer with nearly 40,000 locations in over 100 countries. Approximately 95% of McDonald’s restaurants worldwide are owned and operated by independent local business owners.

About Paramount

Paramount (NASDAQ: PARA, PARAA) is a leading global media, streaming and entertainment company that creates premium content and experiences for audiences worldwide. Driven by iconic consumer brands, its portfolio includes CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount+ and Pluto TV. The company holds one of the industry's most extensive libraries of TV and film titles. In addition to offering innovative streaming services and digital video products, Paramount provides powerful capabilities in production, distribution and advertising solutions.

About Operation HOPE

Since 1992, Operation HOPE, Inc., has been moving America from civil rights to “silver rights” with the mission of making free enterprise and capitalism work for the underserved—disrupting poverty for millions of low and moderate-income youth and adults across the nation. Through its community uplift model, HOPE Inside, which received the 2016 Innovator of the Year recognition by American Banker magazine, Operation HOPE has served more than 4 million individuals and directed more than $3.2 billion in economic activity into disenfranchised communities—turning check-cashing customers into banking customers, renters into homeowners, small business dreamers into small business owners, minimum wage workers into living wage consumers, and uncertain disaster victims into financially empowered disaster survivors. Operation HOPE recently received its eighth consecutive 4-star charity rating for fiscal management and commitment to transparency and accountability by the prestigious non-profit evaluator, Charity Navigator. For more information, visit Operation HOPE.org.

About Financial Literacy for All

Financial Literacy for All is a national initiative of Operation HOPE to embed financial literacy in American schools, workplaces, communities, and culture, led by a prominent group of leaders from the business, sports, entertainment, and nonprofit sectors. This 10-year initiative will reach millions of youths and working adults by meeting them wherever they are on their financial journey, ensuring they have access to and an understanding of the knowledge, tools, and resources they need to make informed financial decisions and take control of their financial lives. For more information and to follow the progress of FL4A, visit FL4A.org, and FL4A’s financial education resource library, which is accessible to the general public as well as to all member companies, their employees, and their customers. To follow the progress of Financial Literacy for All, please visit FL4A.org.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231208280378/en/

Bill Mendel

Mendel Communications

bill@mendelcommunications.com

212-397-1030

Source: Operation HOPE

FAQ

What is the initiative announced by Financial Literacy for All (FL4A)?

FL4A is a national initiative dedicated to embedding financial literacy into the nation’s schools, workplaces, communities, and culture.

Which companies have joined the coalition of organizations committed to the financial literacy movement?

McDonald’s Corporation (MCD) and Paramount Global (PARA, PARAA) have joined the coalition of nearly 50 leading organizations.

What is the potential reach of the financial literacy initiatives committed by FL4A members?

The initiatives have the potential to reach a cumulative employee and franchisee base of up to six million people.

When was FL4A launched and by whom?

FL4A was launched in May 2021 by a consortium of leaders from the business, professional sports, entertainment, and non-profit sectors and Operation HOPE.

What is the goal of FL4A?

FL4A aims to reimagine the way Americans think about financial literacy.