Volvo Financial Services Empowers 10,000 Students with Financial Skills

Author: Thomas Cooper Updated: 09-12-2024 03:09 AM

Volvo Financial Services and JA Worldwide Empower Youth

In a remarkable initiative, Volvo Financial Services (VFS) and Junior Achievement (JA) Worldwide have successfully provided financial literacy education to more than 10,000 students. This effort is powered by the dedication of over 180 VFS employee volunteers, alongside the invaluable assistance from numerous JA educators. This achievement builds upon last year's outreach, resulting in over 24,000 students equipped with vital skills such as budgeting, entrepreneurial thinking, and career development.

Fostering Financial Literacy for Future Success

Through these programs, VFS is not only raising awareness about financial management but also empowering the future workforce. "We are on track to reach even more students this year, thanks to our employee volunteers and the support from JA," stated VFS President Marcio Pedroso. He emphasized the importance of these programs in providing students with the necessary skills to navigate their financial futures effectively.

Diverse Programs Tailored to Meet Community Needs

The financial literacy programs offered are tailored to address the unique needs of each community. In the United States, VFS collaborated with JA to implement the 'JA It's My Future' program, which equips students with job-hunting and personal branding skills essential for securing employment. This hands-on approach culminates in students learning how to prepare resumes and excel in job interviews.

Empowerment Through Entrepreneurship in Italy

In Italy, VFS is actively engaged in the JA Company Program, where students conceptualize and manage their own business ventures. This program not only enriches their learning experience but provides real-world entrepreneurial lessons. VFS employee volunteers play a critical role in mentoring these young entrepreneurs, guiding them through the various stages of business development.

Personal Connections Enhance the Learning Experience

The influence of VFS volunteers goes beyond academic instruction; they also share personal stories and experiences. Daniel Mello, senior vice president of marketing at VFS, noted, "Making personal connections brings the programs' messages to life and provides lifelong lessons that benefit students beyond the classroom. This mentorship is vital in shaping their financial literacy journey."

Expanding Reach: New Markets and Opportunities

This year has seen the addition of three new markets—Canada, Romania, and Sweden—joining a diverse range of countries already benefiting from the program. These markets will join established ones, including Brazil, India, France, and the United States, in continuing their JA activities through 2024. The involvement of all 12 participating countries signifies VFS's global commitment to promoting financial literacy education.

Aligning with Sustainable Development Goals

VFS's partnership with JA aligns closely with Volvo Group’s overarching sustainability objectives, particularly in supporting the United Nations Sustainable Development Goals (SDGs). Initiatives aimed at enhancing financial literacy contribute to quality education and empower individuals, particularly women and girls, while combating poverty through improved economic understanding.

About Volvo Financial Services

Volvo Financial Services serves as the captive finance organization of the Volvo Group, providing tailored financial solutions that cater to customer needs. Committed to innovation, VFS supports the transition to sustainable transport and equipment solutions, with its headquarters located in Gothenburg.

About the Volvo Group

The Volvo Group is a leading global provider of transport and infrastructure solutions, showcasing a diverse range of products including trucks, buses, and construction equipment. Founded in 1927, the company has a strong commitment to sustainability and advancing the future of transport. With over 100,000 employees, the Volvo Group operates in nearly 190 markets globally.

Frequently Asked Questions

What is the purpose of the program between VFS and JA Worldwide?

The program aims to equip students with essential financial literacy skills, enhancing their understanding of budgeting, job readiness, and entrepreneurial thinking.

How many students have benefited from the program so far?

To date, more than 10,000 students have participated this year, adding to over 14,000 from previous efforts, totaling over 24,000 students reached.

What specific skills do students learn in the program?

Students learn a variety of skills, including budgeting, job-hunting techniques, personal branding, and entrepreneurial management practices.

Which countries are participating in the financial literacy initiative?

Countries involved include Canada, Romania, Sweden, Brazil, India, France, Italy, Peru, South Africa, Spain, the United Kingdom, and the United States.

How does VFS’s mission align with sustainability goals?

VFS’s partnership with JA supports several United Nations Sustainable Development Goals, particularly those centered on quality education and poverty reduction through improved financial understanding.

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