PRESS RELEASE PR Newswire Apr. 11, 2018, 08:59 AM, as seen in MarketsInsider
LOUISVILLE, Ky., April 11, 2018 /PRNewswire/ — Today the KFC Foundation, an independent 501(c)(3) non-profit organization funded by KFC franchisees, announced personal finance program, MyChange, as its newest charitable offering for employees at participating KFC U.S. restaurants. Offered in partnership with Sum180, MyChange fosters personalized financial wellness and teaches foundational personal finance skills to KFC’s restaurant employees who choose to enroll in the program.
“The KFC Foundation programs provide resources to KFC’s frontline workers, based on their real needs. Financial health impacts overall health and wellness. So, we’re excited to provide the people we serve with tools to take charge of their financial trajectory through the new MyChange offering,” said Krista Snider, managing director, the KFC Foundation.
MyChange pairs a powerfully simple and completely confidential financial wellness app with a personal adviser to empower users to take charge of their money right away. Program features include:
- Budgeting tools and weekly budgeting tips
- Personalized budgeting plans and actionable, highly personalized next steps
- Helpful videos and easy instructions
- Notifications to encourage accountability
- Personal and private access to financial advisers to provide coaching
- An online community for peer support and encouragement
During the annual KFC Corporation-sponsored “Your KFC Voice” restaurant team engagement survey, team member responses indicated financial counseling as a primary need, second only to college scholarships. This insight, coupled with the KFC Foundation’s own research and experience with constituents via its hardship assistance program, led the KFC Foundation to establish MyChange in partnership with Sum180.
“Our mobile financial wellness service goes beyond traditional financial wellness services, and similarly, the KFC Foundation goes beyond standard employee support. We’re thrilled to partner with a like-minded organization to bring the Sum180 financial wellness service to KFC restaurant employees,” said Carla Dearing, CEO and founder, Sum180.
MyChange joins several other KFC Foundation offerings, including Rise with GEDworks (personalized high school credential assistance), the KFC Family Fund (hardship and crisis assistance), and the REACH Educational Grant Program (college tuition assistance at $2,000, $2,500and $3,000 award levels), rounding out the employee assistance organization to support the whole wellbeing of KFC’s restaurant employees.
Operating independently from KFC Corporation and led by a board including KFC franchisees, KFC Foundation receives the majority of its financial support from the Cole Slaw Donation Program, a voluntary program where KFC franchisees elect to have a portion of the sales of cole slaw in their restaurants used to engage in and support the Foundation’s initiatives (averaging out to a $1 per employee per month contribution).
About the KFC Foundation
The KFC Foundation, an independent 501c3 non-profit organization, is committed to providing accessible support and development opportunities to KFC U.S. restaurant employees. Since 2006, the Foundation has awarded $17 million to more than 4,500 students and KFC Restaurant employees, assisting them in going to college, earning a GED and in hardship/crisis situations. The KFC Foundation’s charitable programs are made possible through the generosity of KFC’s many franchisees and KFC Corporation.
Sum180 is a mobile financial wellness service that identifies users’ most relevant Next Steps to strengthen their financial picture—and makes those steps easy to accomplish.
Sum180 goes beyond traditional financial wellness services:
- Sum180 is immediately engaging. Gamified mobile setup, tips, and easy budgeting offer instant insights and fun interactivity.
- Sum180 offers highly personalized Next Steps—and the support to get them done. Personalized, right-sized Next Steps, how-to information, mobile tracking, and notifications for accountability empower action.
- Sum180 provides coaching from financial advisers plus peer support. When users are ready to dig deeper into their financial picture, they have access to coaching from advisers and an online community of users, unfiltered, that allows them to explore and share.
- Sum180 is independent and unbiased. Sum180 makes money from subscription and account fees, never from commissions on advice given.
Additional information about Sum180 may be found at https://sum180.com/.
The KFC Foundation, KFC Corporation or their respective affiliates do not provide financial planning, tax or legal advice. If you have questions relating to your specific financial situation, please contact your financial, tax or legal advisors.
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