VIENNA, VA (January 25, 2023) – Navy Federal Credit Union joined the Financial Literacy for All (FL4A) initiative through Operation HOPE, a national endeavor to embed financial literacy into American culture. The goal of FL4A is to enable millions of youth and working adults to achieve greater financial success for themselves, their families and the community.
"We are honored to welcome into our FL4A movement Navy Federal and its very special member base—a group to whom we all owe our gratitude for their service and sacrifice in support and protection of our freedoms," said John Hope Bryant, Founder, Chairman and CEO of Operation HOPE and Co-Chair of FL4A. "Through its commitment to FL4A and our mission of embedding financial literacy into the bedrock of our nation, Navy Federal will help empower not only its workforce and over 12 million members, but every American. We are excited to collaborate with Navy Federal and grateful for their dedication and efforts."
Financial health is a cornerstone of Navy Federal’s mission of serving and enriching lives within the military community, and a key component of Navy Federal’s Corporate Social Responsibility Strategy is financial wellness. As an organization that has provided a lifetime of guidance and support built on trust and shared values, Navy Federal deploys subject matter experts where financial education is needed most, which ranges from digital platforms to basic training sites for servicemembers.
Navy Federal launched its Making Cents financial wellness resources for members in 2016, which include a podcast and online tools for budgeting, investing, credit and loans. Their ongoing Financial Advice Friday series promotes financial education on their social channels, while branches actively present content that targets fraud prevention and saving strategies locally. Navy Federal also targets financial education for youth with an in-house curriculum for finance management and career readiness through its School Partnerships Program.
"Joining Operation HOPE’s FL4A movement strengthens our financial wellness impact,” said Pam Piligian, Chief Marketing Officer at Navy Federal. “Since founding 90 years ago, we’ve helped the military community improve their financial health through ongoing financial education that helps members plan and make great choices. Now, more than ever, our partnership with members enables them to navigate tricky economic head and tailwinds."
According to the National Financial Educators Council, financial illiteracy costs Americans an estimated $145 billion each year. FL4A is a first-of-its-kind coalition to mitigate this cost with support from members like Navy Federal.
About Navy Federal Credit Union: Established in 1933 with only 7 members, Navy Federal now has the distinct honor of serving over 12.3 million members globally and is the world’s largest credit union. As a member-owned and not-for-profit organization, Navy Federal always puts the financial needs of its members first. Membership is open to all Department of Defense and Coast Guard Active Duty, veterans, civilian and contractor personnel, and their families. Dedicated to its mission of service, Navy Federal employs a workforce of over 22,000 and has a global network of 355 branches. For more information about Navy Federal Credit Union, visit navyfederal.org. Federally insured by NCUA. Equal Opportunity Employer.
About Operation HOPE, Inc.: Since 1992, Operation HOPE 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. For more information: www.OperationHOPE.org. Follow the HOPE conversation on: Twitter, Facebook, and Instagram.