Financial News
Alliance Data Supports Junior Achievement's Teen Financial Literacy Program by Funding Innovative Mobile App Courses
SOURCE: Alliance Data
SUMMARY:
- Innovative app provides learning experience for middle and high school students using gamified approach to teach basic financial capabilities
- Alliance Data’s funding will enable 40,000 low- and moderate-income students to earn money to invest
DESCRIPTION:
COLUMBUS, Ohio, April 23, 2021 /3BL Media/ - Advancing its commitment to improve financial literacy for the next generation, Alliance Data Systems Corporation (NYSE: ADS), a leading provider of data-driven marketing, loyalty and payment solutions, today announced its Card Services business and the Company’s bank affiliate, Comenity Capital Bank, have committed $120,000 to Junior Achievement USA to offer financial literacy courses on Learn & Earn™, a fast-growing micro-investing app that bridges the EdTech and FinTech worlds.
Alliance Data’s contribution will support the development of three new mobile app courses focusing on understanding credit, the value of building credit, basic information on credit scores and the role credit plays in paying for college. A portion of the funding will also enable 40,000 low- and moderate-income students to earn money for completing the courses, allowing many of them to experience investing for the first time.
“In recognition of April as national Financial Literacy Month, it’s never been more important for students to understand the impact of building credit and other tools to take control of their financial future,” said Ron Ostler, president, Comenity Capital Bank. “Our support of Junior Achievement underscores Alliance Data and its affiliate bank’s commitment to help increase financial awareness and fluency across our stakeholder universe, including students of all ages, and the ability to acquire the skills and knowledge they need to achieve their highest potential.”
Junior Achievement USA provides financial literacy courses through the Learn & Earn app to its network of over 200,000 classrooms and after-school locations, reaching over five million children. Using the app, students can complete short courses on their smartphones to earn real dollars that are then invested in stock market portfolios in their names. While learning valuable skills, the Learn & Earn app will teach students how to invest and start building wealth for their future that they can use for college tuition, a certificate program, technical school or to start a business. Learn & Earn’s courses include topics such as “getting a job” and “increasing savings,” as well as the recent addition of a course in cryptocurrency.
“It’s a pivotal time for students. Over the past year their education has been disrupted, and Learn & Earn lets kids learn beyond the classroom and use the money they earn to experience investing,” said Jack Kosakowski, president and chief executive officer, Junior Achievement USA. “Through these financial literacy courses and the use of the app, we are helping to set students of all backgrounds on a path towards financial success in the future.”
Alliance Data has a long history of supporting Junior Achievement USA and its local affiliates through financial contributions and volunteerism. With this latest investment in Learn & Earn, financial contributions have totaled more than $400,000 over the past five years.
About Junior Achievement USA® (JA)
Junior Achievement is the world’s largest organization dedicated to giving young people the knowledge and skills they need to own their economic success, plan for their future, and make smart academic and economic choices. JA programs are delivered by corporate and community volunteers, and provide relevant, hands-on experiences that give students from kindergarten through high school knowledge and skills in financial literacy, work readiness, and entrepreneurship. Today, JA reaches more than 3 million students per year in 105 markets across the United States, with an additional 5.2 million students served by operations in 100 other countries worldwide. Junior Achievement USA is a member of JA Worldwide. Visit www.ja.org for more information.
About Learn & Earn™
Created by the team behind Blast, Learn & Earn™ is the app that pays kids to learn. Covering real-world topics not taught in school, the bite-size courses reward students with funds from sponsors and parents. These funds are then invested for the students, opening up a whole world of savings and investments for them. Working with pre-eminent partners and sponsors, Learn & Earn combines the best of FinTech and EdTech to redefine remote learning with courses that cover topics such as financial literacy, potential careers, and life skills. The app’s ultimate mission is simple: Teach kids how to become successful adults. Visit www.learnandearn.com for more information. Disclosures.
About Alliance Data
Alliance Data® (NYSE: ADS) is a leading provider of data-driven marketing, loyalty and payment solutions serving large, consumer-based industries. The Company creates and deploys customized solutions that measurably change consumer behavior while driving business growth and profitability for some of today’s most recognizable brands. Alliance Data helps its partners create and increase customer loyalty across multiple touch points using traditional, digital, mobile and emerging technologies. A FORTUNE 500 and S&P MidCap 400 company headquartered in Columbus, Ohio, Alliance Data consists of businesses that together employ nearly 8,000 associates at 45 locations worldwide.
Alliance Data’s Card Services business is a comprehensive provider of market-leading private label, co-brand, general purpose and business credit card programs, digital payments, including Bread®, and Comenity-branded financial services. LoyaltyOne® owns and operates the AIR MILES® Reward Program, Canada’s most recognized loyalty program, and Netherlands-based BrandLoyalty, a global provider of tailor-made loyalty programs for grocers. More information about Alliance Data can be found at www.AllianceData.com.
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KEYWORDS: NYSE:ADS, Alliance Data Systems, Junior Achievement USA, financial literacy
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