What is Financial Literacy for All?
A national initiative to embed financial literacy into American culture, led by a prominent group of leaders from the business, sports, entertainment and nonprofit sectors. This 10-year initiative will reach millions of youth and working adults by making financial literacy fun, engaging them where they live, work and celebrate.
Why is Financial Literacy Important?
Underscoring the need for financial literacy, the Financial Industry Regulatory Authority’s current Investor Education Foundation survey found that only one-third of U.S. residents surveyed could answer basic questions about interest rates, financial risk and mortgage rates—down by nearly one-quarter from 2009. In addition, the cost of financial illiteracy to U.S. citizens is estimated to be $415 billion for 2020, according to a recent study by National Financial Educators Council.
What Areas Will “Financial Literacy for All” Address?
These organizations are acting now—leveraging their collective innovative and creative expertise as well as their daily interaction with millions of employees, clients, customers and suppliers to spur a national movement of financial capability. This alignment of vision and mission is supported by:
- Making financial literacy easier to understand and generating public awareness of its importance by directly connecting with working adults.
- Providing targeted outreach to middle and high school students as well as those attending community college and 4-year universities with innovative outreach and existing “Best Practices.”
How Do I Become Involved?
If your organization would like to learn more about becoming a FL4A partner, please submit your information HERE.
Who Are the Founding Members?
These leaders helped spearhead the initiative. Each leader has made a commitment from their organization to the initiative, provided financial support to the initiative and leveraged their personal network to get other organizations engaged.
- Doug McMillon, CEO, Walmart, Co-Chair
- John Hope Bryant, CEO, Operation HOPE, Co-Chair
- Ed Bastian, CEO, Delta Air Lines
- Rosalind Brewer, CEO, Walgreens
- Roger Goodell, Commissioner, NFL
- Sal Khan, Founder, Khan Academy
- Brian Moynihan, CEO, Bank of America
- Tony Ressler, Executive Chairman, Ares Management
- Adam Silver, Commissioner, NBA