Volvo Financial Services, JA Worldwide Equip 10,000 Students with Financial Literacy Knowledge

Rhea-AI Summary

Volvo Financial Services (VFS) and JA Worldwide have reached over 10,000 students with financial literacy curriculum in 2024, bringing their total impact to 24,000 students since last year. The program, supported by 180 VFS employee volunteers, focuses on skills like entrepreneurial thinking, budgeting, and career development. VFS has expanded the initiative to 12 markets, including new additions Canada, Romania, and Sweden.

The partnership aligns with Volvo Group's sustainability goals and the UN's Sustainable Development Goals. Programs are tailored to local needs, such as 'JA It's My Future' in the U.S. and the JA Company Program in Italy. VFS President Marcio Pedroso emphasized the program's potential to change students' futures through improved financial literacy.

Positive

• Reached over 10,000 students with financial literacy curriculum in 2024
• Expanded program to 3 new markets (Canada, Romania, Sweden), now operating in 12 countries
• Aligns with Volvo Group's sustainability goals and UN Sustainable Development Goals
• Engaged 180 VFS employee volunteers in the program

Negative

• None.

GOTHENBURG, Sweden, Sept. 12, 2024 /PRNewswire/ -- Halfway through 2024, Volvo Financial Services (VFS) and JA (Junior Achievement) Worldwide have reached more than 10,000 students with financial literacy curriculum, thanks to the efforts of more than 180 VFS employee volunteers and support from dozens more JA educators. Combined with the 14,000 plus youth reached last year, VFS and JA have now equipped more than 24,000 students with skills such as entrepreneurial thinking, budgeting, financial goal setting, career development and more, positioning them for future success personally and professionally.

"We are on track to reach even more students this year, thanks to the incredible efforts of our employee volunteers and the tremendous support of our partners at JA," said VFS President Marcio Pedroso. "Beyond just the numbers, we know that we are providing these young people with tangible skills to boost their financial literacy and help change the course of their futures."

The financial literacy programs shared with students are tailored to meet specific needs in each market. In the U.S., JA and VFS led the 'JA It's My Future' program, which helps students prepare for the working world by teaching job-hunting and personal-branding skills needed to earn a job. At the conclusion of the program, students learned how to research careers, create a basic resume and understand how to participate in a job interview.

VFS Italy continued its work with the JA Company Program, a multi-step exercise that helps students develop, create and manage their own business venture to address a need in their communities. VFS employee volunteers mentor the students to get their startups running and provide real-world lessons to help them sustain success. In 2024, employee volunteers from VFS Italy helped students work through the final competition.

"While teaching the programs with JA is impactful on its own, the additional aspect of mentoring students by sharing personal stories and experiences with students is what makes a difference," said Daniel Mello, senior vice president, marketing, communications and sustainability, VFS. "Making these personal connections helps bring the programs' messages to life and provides lifelong lessons that will be helpful outside the classroom."

Three new VFS markets were added to the program in 2024, with Canada, Romania and Sweden joining Brazil, France, India, Italy, Peru, South Africa, Spain, the United Kingdom and the United States. All 12 markets will continue their JA activities throughout 2024, with several ramping up to make a big push as schools return to session in the second half of the year.

VFS' partnership with JA is fully aligned with the Volvo Group's ambitions for sustainability, which include a commitment to each of the United Nations Sustainable Development Goals (SDGs). Financial literacy education and programming will make a positive impact on several SDGs, including supporting quality education, empowering women and girls, helping end poverty and more.

Volvo Financial Services is the captive finance arm of the Volvo Group, providing financial services and solutions that meet the needs of our customers today and into the future. Dedicated to innovation, VFS is supporting society in its adoption of sustainable transport and equipment solutions. VFS is headquartered in Gothenburg, Sweden, and serves Volvo Group customers and dealers in about 50 markets. For more information, please visit www.volvofinancialservices.com or follow us on LinkedIn.

The Volvo Group drives prosperity through transport and infrastructure solutions, offering trucks, buses, construction equipment, power solutions for marine and industrial applications, financing and services that increase our customers' uptime and productivity. Founded in 1927, the Volvo Group is committed to shaping the future landscape of sustainable transport and infrastructure solutions. The Volvo Group is headquartered in Gothenburg, Sweden, employs more than 100,000 people and serves customers in almost 190 markets. In 2023, net sales amounted to SEK 553 billion (EUR 48 billion). Volvo shares are listed on Nasdaq Stockholm.

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SOURCE Volvo Financial Services

FAQ

How many students has Volvo Financial Services (VLVLY) reached with its financial literacy program in 2024?

Volvo Financial Services has reached over 10,000 students with its financial literacy program in 2024.

What is the total number of students impacted by VFS and JA Worldwide's financial literacy program since last year?

VFS and JA Worldwide have impacted more than 24,000 students with their financial literacy program since last year.

Which new markets did Volvo Financial Services (VLVLY) add to its financial literacy program in 2024?

Volvo Financial Services added Canada, Romania, and Sweden to its financial literacy program in 2024.

How many VFS employee volunteers are involved in the financial literacy program?

More than 180 VFS employee volunteers are involved in the financial literacy program.