Investing in Financial Education; Advancing Financial Knowledge
LANSING, Mich., April 20, 2017 /BusinessWire/ — Jackson, a leading provider of retirement strategies, today launched the Jackson Charitable Foundation, a nonprofit with a mission to advance financial knowledge on a national scale, and shared plans for the U.S. rollout of Cha-Ching™ Money Smart Kids, a financial education program designed to help children become financially empowered adults.
The Foundation, operating as a 501(c)(3), will support educational programs designed to accelerate substantial, measurable progress in improving how Americans manage, protect and grow their personal finances.
“Americans’ lack of practical financial knowledge is a pressing social issue that Jackson believes can be changed by providing the resources and education people need to make better financial decisions,” said Barry Stowe, chairman and chief executive officer of the North American Business Unit of Prudential plc, Jackson’s parent company, and board chair of the Jackson Charitable Foundation. “We are proud to launch the Jackson Charitable Foundation to expand our company’s impact through nonprofit organizations, schools and associate volunteerism. Together, we have the power to change how Americans approach their financial futures.”
The Jackson Charitable Foundation’s first initiative is the U.S. rollout of Cha-Ching Money Smart Kids, a program that teaches basic money concepts to kids through a series of three-minute music videos portraying relatable animated characters making real-world decisions about money. The program is designed to help kids ages 7-12 develop good financial habits early in life so they can reach their personal financial goals in the future.
Stowe previously held the position of chief executive of Prudential Corporation Asia (PCA), the Asian operations of Prudential plc. Under his leadership, Cha-Ching was developed and launched in Asia in 2011 in partnership with Cartoon Network Asia and Dr. Alice Wilder, internationally renowned children’s education expert.
Learn by doing
“We know that kids learn by doing what they see, and when it comes to money, mostly what they see all around them is spending. When we developed Cha-Ching, we focused on the other essential choices about money that are often invisible to children — earn, save and donate,” said Dr. Wilder. “I’m excited to partner with Jackson to address the questions kids have about money and inspire conversations. The more they know from an early age, the better the choices they can make throughout their lives.”
Cha-Ching currently broadcasts across Asia through Cartoon Network in eight markets (Hong Kong, Malaysia, Singapore, Philippines, Indonesia, Thailand, Vietnam, Taiwan) and through free-to-air TV in Cambodia and Myanmar, reaching 34 million households every day.More than 250,000 children have participated in the classroom version of Cha-Ching Money Smart Kids at schools across the region.
To effectively distribute Cha-Ching to U.S. children and families, the Foundation is investing nearly $3 million and formed partnerships with Discovery Education and Junior Achievement USA.
Discovery Education, the leading provider of digital content and professional development for K-12 classrooms, serving 4.5 million educators and over 50 million students, is beginning an engaging three-year financial literacy program based on Cha-Ching Money Smart Kids for elementary school classrooms nationwide. The program provides teachers, families and students in kindergarten through grade six with the knowledge, tools and practice they need to make good financial decisions. The partnership includes no-cost classroom and family activities, educator guides, family activities, a sweepstakes, a broad-based public service awareness (PSA) campaign running on the Discovery Family network along with Cha-Ching animated videos, and more. These resources will be available here.
In addition, through a grant from the Jackson Charitable Foundation, Junior Achievement USA (JA) is integrating Cha-Ching Money Smart Kids videos and lessons into its “JA Our City” classroom program, taught to third-grade students by community volunteers. The Foundation’s grant funds Junior Achievement’s Cha-Ching program for six years and is predicted to reach approximately 2.7 million students in 15,000 schools throughout the country.
Jackson Charitable Foundation executive director Danielle Robinson, who manages the programs, said the initiative will be an important addition to the charitable work Jackson already does on a local and national level.
“Jackson’s 5,000 U.S. associates work in a professional capacity every day helping Americans achieve financial security and freedom,” said Robinson. “Jackson is a longtime leader of community giving and employee volunteering, and we’re excited to extend our impact into schools across the country.”
About The Jackson Charitable Foundation
The Jackson Charitable Foundation, the charitable-giving arm of Jackson, is a 501(c)(3) private operating foundation. Its mission is to provide educational programming to increase the financial knowledge of Americans. Our vision is for all Americans to have the strong personal finance skills that allow people to live fuller, more self-directed lives. The Foundation works with Jackson associates and world-class partners to provide economic opportunities that build strong communities. Follow the Jackson Charitable Foundation at www.jacksoncharitablefoundation.org and on Twitter at @JacksonFdn.
Jackson National Life Insurance Company® (Jackson) is a leading provider of retirement products for industry professionals and their clients. The company offers a diverse range of products including variable, fixed and fixed index annuities designed for tax-efficient accumulation and distribution of retirement income for retail customers, and fixed income products for institutional investors. Jackson subsidiaries and affiliates provide specialized asset management and retail brokerage services. Jackson prides itself on product innovation, sound corporate risk management practices and strategic technology initiatives. Focused on thought leadership and education, the company develops proprietary research, industry insights and financial representative training on retirement planning and alternative investment strategies. Jackson is also dedicated to corporate social responsibility and supports charities focused on helping children and seniors in the communities where its employees live and work. For more information, visit www.jackson.com.
Jackson is the marketing name for Jackson National Life Insurance Company (Home Office: Lansing, Michigan) and Jackson National Life Insurance Company of New York® (Home Office: Purchase, New York). Jackson National Life Distributors LLC.
Jackson National Life Insurance Company is an indirect subsidiary of Prudential plc, a company incorporated in England and Wales. Prudential plc and its affiliated companies constitute one of the world’s leading financial services groups. It provides insurance and financial services through its subsidiaries and affiliates throughout the world. It has been in existence for over 165 years and has $740.6 billion in assets under management (as of December 31, 2016). Prudential plc is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America.