This week, Navy Federal Credit Union announced the winners of its first Operation Joyride Sweepstakes, which allowed eligible auto finance contract holders to submit an entry for their chance to win a grand prize of $30,000 toward their Navy Federal retail installment contract.
Members also had the chance to win a first-place prize of $15,000 and a second-place prize of $5,000.
The grand prize winner was Travis Wolf, a Navy chief officer and father of two who used a portion of his $30,000 winnings to pay off more than $13,000 of an existing balance on his 2019 Ford Edge. The remaining money went to his checking account, according to a news release.
Wolf has been a Navy Federal Credit Union member for nearly 25 years, and his two sons — one of whom is currently serving in the Air Force — are also Navy Federal members.
“I would have never expected to be entered into a sweepstakes and actually win,” Wolf said in the news release. “My family and I are both extremely grateful and thankful for this, it couldn’t have come at a better time. It allowed us number one to pay off our vehicle loan, which was awesome, and it also allowed us to take the rest of the money. It gave us a little bit of financial freedom.”
Operation Joyride’s first-place winner Alejandro (Alex) Magana Jr. is a proud father and hardworking waste management employee in the San Diego area. With his $15,000 win, Navy Federal said Magana was able to pay down almost half of his outstanding auto finance balance.
“I have been a loyal member of Navy Federal for well over 5 years,” Magana said in the news release. “When entering this sweepstake, I didn’t think much of it. I figured my chances of winning were slim to none. I am very blessed to have received this prize as it has help lower my current car payment by more than half! Thank you so much! I am happy to be a part of the best credit union!”
Joe Pendergast is vice president of consumer lending at Navy Federal Credit Union.
“I’m extremely excited for the winners of our sweepstakes,” Pendergast said. “Our members mean everything to us, and we’re committed to providing tools to help them meet their financial goals through every phase of life. Sometimes our tools may be in the form of online calculators and articles, and sometimes they might look like $30,000 of prize money. The bottom line is it’s all for the members.”
Last week, Wells Fargo gave a $1 million grant to the Thurgood Marshall College Fund to provide support for scholarships, leadership development programs and for TMCF’s signature entrepreneurship program, the PITCH.
In addition, Wells Fargo said in a news release that it will again be the presenting partner for the 22nd annual Leadership Institute: Empowered State of Mind in New York City. The 2022 leadership institute will take place in person from Sept. 28 through Oct. 1.
Officials explained the Institute, now in its 22nd year, is part of a larger mission to advance pathways toward economic mobility for HBCU students and intentionally diversify the future work force within corporate America. The conference hosts more than 400 HBCU students annually and provides organizations access to a talented and diverse student population while helping participants make connections to Fortune 500 companies and top-tier organizations.
“We are pleased to continue our relationship with Wells Fargo and appreciate their commitment to taping into the HBCU talent pipeline to advance workforce diversity efforts,” Thurgood Marshall College Fund president and chief executive officer Harry Williams said.
“The Leadership Institute is our signature event that demonstrates our commitment to ensuring our students enhance their 21st century skills to be competitive in the workforce,” Williams continued.
One of the highlights of the Institute is a recruitment fair where major companies and government agencies identify top talent for jobs and internships. Organizers highlighted 600 program representatives are expected to participate in the Institute this year.
Through dedicated programming and a commitment to removing the financial barriers for HBCU students through scholarships, TMCF and Wells Fargo said they are addressing some of the nation’s most difficult issues while creating both long-term impact and sustainable outcomes with underrepresented groups.
“For more than 20 years, we have worked together to provide scholarships, professional development and leadership opportunities to the incredible talent at HBCUs,” said Rob Engel, Wells Fargo’s chairman of banking.
“It has been an opportunity for us to be intentional about our efforts to create an inclusive work force and prepare students from HBCUs for success,” Engel went on to say.
Alfa recently announced the three charities that the company is supporting globally for 2021 and beyond.
Alfa’s U.S. operation has chosen Feeding America, one of the nation’s largest domestic hunger-relief organizations, working to connect people with food and end hunger.
Officials said Feeding America is able to help one in seven Americans by providing 4.3 billion meals every year. The organization works with a network of food banks, pantries and meal programs that serve virtually every community in the United States.
“This is even more apparent as more families struggle to fill the table because of the impact of change the pandemic has rippled through the world,” Alfa said in a news release. “For the 37 million Americans who already faced food insecurity, trying to put food on the table during the pandemic introduced a crisis within a crisis.”
In the U.K., Alfa has partnered with The Climate Coalition, one of the U.K.’s largest groups dedicated to action against climate change.
Along with its sister organizations Stop Climate Chaos Cymru and Stop Climate Chaos Scotland, officials said The Climate Coalition is a group of more than 140 organizations, including the National Trust, Women’s Institute, Oxfam and RSPB. The organizations involve 22 million members.
“They are reaching across the U.K. to show love for all the things they want to protect from climate change, and to ask politicians to put aside their differences and commit to doing whatever is necessary to protect them,” Alfa said.
In the Asia-Pacific region, Alfa has selected Share the Dignity, a women's charity in Australia that works to make a real, on-the-ground difference in the lives of those experiencing homelessness, fleeing domestic violence, or doing it tough.
Officials said Share the Dignity distributes hygiene products to women, girls, and anyone who menstruates who needs support.
“When someone is doing it tough, the last thing on their mind should be dealing with their period,” Alfa said.
Furthermore, Alfa said it is committed to making its environmental track record exemplary in its field, and has set ambitious targets to help achieve this objective.
Alfa aligns with the United Nations Sustainable Development Goals to provide focus and consistency to its efforts, with staff at all levels of the company proactively seeking to reflect its “Create a Positive Impact” value.
This year, Alfa added that its key focus has been on more accurately measuring its emissions and developing a plan to implement carbon off-setting to achieve carbon neutrality.
Grahame Williams, an associate director at Alfa and a pioneer of customer service and social impact within the company for more than 15 years, offered these perspectives
“Giving is really important at Alfa. Fundraising happens every day, and this can be ad hoc or company-organized. Every submission to our employee engagement survey, for example, generates a donation of £5 to one of the three chosen charities,” Williams said.
“But fundraising isn’t limited to those organizations. We also raise thousands more for other charities, including payroll donations to charities personally selected by participating employees. Alfa supports anyone who has an idea to get their event up and running, and will match any amounts raised,” Williams went on to say.
Alfa is a software platform provider used by equipment and auto finance companies.
GM Financial recently received more recognition for its work outside of originating vehicle leases and installment contracts and collecting monthly payments.
The captive for General Motors has been awarded the U.S. President’s Volunteer Service Award for its commitment to Junior Achievement USA. The company received the award in recognition of its hundreds of employees who volunteered time to Junior Achievement in support of its educational initiatives.
According to a news release, this is the seventh consecutive year that JA has recognized GM Financial for its volunteer efforts.
The award was presented to the company on Feb. 3 during the nationwide JA Volunteer Summit virtual event, which celebrated corporations that promote Junior Achievement’s mission to inspire and prepare young people to succeed in the global economy.
In the past, GM Financial said it has received this award for the more than 5,000 hours that company volunteers served during the school year. Due to the coronavirus pandemic, that number was reduced to 1,000 for the 2019-2020 school year.
GM Financial highlighted that its team members volunteered to offer students financial literacy education, help with resumes, career readiness training, mentoring and other forms of assistance.
“This honor is an incredible source of pride for us at GM Financial because it highlights the importance of helping to educate, train and mentor the people who will become the business leaders of tomorrow,” said Mark Bole, chief administrative officer and president of international operations for GM Financial.
“And, it is an important recognition of the time, effort and expertise that our team members throughout the company have dedicated to this mission since the 1990s.” added Bole, a longtime and passionate supporter of Junior Achievement who served for nine years on the board of directors of the organization’s chapter in southeast Michigan.
GM Financial employees in Arizona, Michigan, North Carolina and Texas contributed hundreds of hours, despite the pandemic, to assist with this educational outreach.
The U.S. President’s Volunteer Service Award is a presidential recognition program created during President George W. Bush’s administration by the President’s Council on Service and Civic Participation for people who contribute significant amounts of time for volunteer service.
In 2006, Junior Achievement became an official certifying organization for this award because of its reach and national significance. This certification allows Junior Achievement to honor corporations in the United States that provide volunteers for Junior Achievement anywhere in the world.
The company mentioned that GM Financial employees in Latin America and Chile also volunteer for Junior Achievement programs.
Ally Financial again is organizing support for a variety of initiatives now that Black History Month is underway, saying that access to careers with long-term growth potential is still not equal for everyone.
To address this inequity, the company announced on Tuesday more than $1.3 million in scholarships and programs to open new pathways for Black students and candidates in a variety of professions, including legal, public policy, insurance and other roles within financial services.
Ally said it is working closely with the Congressional Black Caucus Foundation, the Thurgood Marshall College Fund and other professional and university groups to spur success for Black candidates in professions that have largely eluded them.
“The data shows 86% of lawyers are white, just a mere 2.4% of actuaries are Black, and it’s no secret financial services as a whole remains predominantly white and male,” Ally chief diversity officer Reggie Willis said in a news release.
“We believe one of the best ways we can honor and remember our Black history is by actively working for a brighter Black future,” Willis continued. “By providing targeted financial support and mentorship at the college, post-grad and recruitment levels, we can help fill opportunity gaps and promote lasting career development.”
Ally said it will make the following investments in career opportunities for Black candidates:
Congressional Black Caucus Foundation (CBCF) legal and public policy scholarships
Ally is sponsoring three scholarships in collaboration with the CBCF to support increased Black representation in the legal and public policy professions.
Ally and CBCF will provide one legal scholarship for $20,000, renewable up to four years, to an undergraduate senior who is entering an accredited law school upon graduation. That recipient will receive a four-year scholarship in the amount of $20,000 annually.
Each year, the company said a new, four-year scholarship will be awarded to an additional recipient.
Ally added that it will also award two one-year, non-renewable $10,000 scholarships to two undergraduates pursuing degrees in public policy or a related area of study.
Thurgood Marshall College Fund (TMCF) legal scholarships
Ally highlighted that it will sponsor two scholarships in collaboration with TMCF, renewable up to four years, each in the amount of $20,000 for undergraduate seniors who are entering an accredited law school upon graduation.
Each year, two new recipients will be selected.
More importantly, Ally highlighted the TMCF and CBCF legal and public policy scholarships include a mentoring component to provide students with professional insights that can help them successfully navigate law school and potential career opportunities.
Moguls in the Making 2021 financial services scholarships
Ally and TMCF said it will host their third consecutive Moguls in the Making business pitch competition in the fall and will begin accepting applications on March 1.
To recap, the event offers Historically Black College and University (HBCU) students an opportunity to learn and practice vital business skills, while earning scholarships and internship opportunities at Ally that often turn into long-term employment positions within the company.
Ally mentioned that it has hired seven full-time employees and 29 interns through the program since it began two years ago.
Insurance scholarship and recruitment funding
The company recapped that Ally’s insurance unit has invested in career pathways for Black candidates in the actuary, operations and sales areas.
This strategy includes joining the corporate advisory council of the International Association of Black Actuaries to help drive interest in actuarial science as well as providing scholarships; giving $100,000 in scholarships at Southern Illinois University for those pursing automotive technology educations; and contributing to Michigan State University’s Sales Leadership Minor program.
After working with CBCF for several years, Ally noted that it expanded its scholarship commitment with the organization based on the significant contributions it has made to growing diversity in the public policy arena.
“We need companies like Ally Financial who want to step up and help cultivate the next generation of legal and public policy practitioners,” CBCF president and chief executive officer Tonya Veasey said in the news release.
“Together, we can do so much more to advance the Black community by fostering educational advancement and pipelines to career opportunities for students who might not otherwise have access,” Veasey continued.
Ally and TMCF mentioned that they are entering their 15th year of working together to build a relationship that provides students with professional experience and new possibilities and the company with strong employees who bring diverse ideas and perspectives.
The organizations also noted the collaboration has spanned a variety of internship, mentoring, entrepreneurship and leadership programs all designed to provide added exposure to and access into business and financial services for talented Black students.
“Solving diversity issues takes more than funding. It also takes trusted connections and long-term commitments that lead to the kinds of innovative approaches that will work,” said Harry Williams, president and CEO of the Thurgood Marshall College Fund.
“The collaborative nature of the relationship we’ve long enjoyed with Ally has enabled us to make a real difference in the lives of the students we support,” Williams went on to say.
Fintech firms Tresl and Flexco Fleet Services highlighted their latest philanthropy efforts.
The companies recently partnered the Hourglass Foundation, a philanthropic arm of Hourglass Management Co., to support Local Initiatives Support Corp. (LISC) and financially assist in continued efforts to close the racial opportunity gap and lift millions of Americans out of poverty.
Officials explained Tresl’s vision to empower customers to live independent fulfilling lives by connecting them with beneficial financial resources, along with Hourglass Foundation’s mission to help underserved individuals attain technical training through trade schools or local college programs, align perfectly with LISC’s mission.
In particular, officials mentioned two of their financial stability programs — Financial Opportunity Centers and Bridges to Career Opportunities — both of which provide underserved students with scholarship opportunities to gain an education at trade schools and community colleges, as well as, helping them achieve financial independence.
Tresl president and chief executive officer Christine Pierson has had a long-standing relationship with LISC. Pierson has been a contributing board member for the Greater Kansas City Chapter for eight years, as well as a member on its executive committee.
“Because of the commendable work LISC continues to do for communities across the nation, it seemed the perfect fit for our philanthropic support,” company officials said.
“Hourglass Management and The Hourglass Foundation, Tresl and Flexco — including all of our dedicated employees — are proud to extend a monetary contribution to LISC,” they continued. “And, an enormous thank you to their organization for supporting projects and programs that impact the lives of millions of Americans in both rural areas and urban centers across the country — bringing greater economic opportunity to so many.
“We are overjoyed to know this donation will help in LISC’s continued commitment to their vision, along with financial support for any additional resources they may need for continued growth. Together we can all make a difference,” they went on to say. “We hope you will join us in the pursuit of humanity.”
To contribute to LISC or for more information about the organization, visit www.lisc.org.
Wells Fargo recently highlighted that one of its largest educational and philanthropic endeavors reached a new milestone, fueled in part by a 20 dealer groups and franchised stores.
The bank’s initiative — in collaboration with Military Warriors Support Foundation’s Transportation4Heroes program and dealers across the U.S. — has supported $1 million in payment-free vehicle donations since 2015 to more than 30 veterans and Gold Star spouses across the country.
As part of the effort, veterans also receive one year of family and financial mentoring to help them develop the skills necessary to be financially stable and successful.
In addition to vehicle donations, Wells Fargo has donated more than 350 homes (valued at more than $55 million) since 2012 through the foundation’s Homes4WoundedHeroes program.
“Buying a vehicle is one of the most expensive purchases most people make,” said Laura Schupbach, head of Wells Fargo Auto.
“For veterans transitioning back to civilian life, fitting the cost of a new vehicle into their budget can be difficult,” Schupbach continued in a news release. “Helping people succeed financially is the backbone of Wells Fargo’s vision, so we’re pleased that, beyond being able to provide reliable transportation for veterans, we’re also supporting their journey to financial stability and success.”
Through the program, vehicle recipients use the skills they acquire during family and financial mentorship to pay down their total debt. On average, graduates of the Transportation4Heroes program reduce their total debt by nearly $10,100 and improve their credit scores by approximately 58 points, according to Wells Fargo.
“Our Transportation4Heroes program is about more than awarding a payment-free vehicle to combat wounded veterans,” said Andrea Dellinger of the Military Warriors Support Foundation.
“When veterans leave the service and begin reintegrating into their communities, our programs are there to ensure they have the resources they need to be successful through family and financial mentorship,” Dellinger continued. “We look forward to working with Wells Fargo in 2020 and beyond to continue providing transportation to veterans and Gold Star spouses across the country.”
For retired U.S. Marine Corps Sgt. Felix Garcia, it has meant having a reliable vehicle and peace of mind. Garcia, of Sugarland, Texas, received a Ford Expedition in 2017. He applied for the program because his previous vehicle was old and would break down, but he could not afford to purchase another.
“I had debt that would not have allowed me to be able to make the payments for a new vehicle, and I was in need of one,” Garcia said.
For retired U.S. Army Sgt. Jeremy Voss, it has meant living without debt. Voss, of West Des Moines, Iowa, received a Kia Sorrento in 2017.
Since receiving the vehicle, Voss’s family is now debt free. “No student loans, no car loans, no mortgages,” Voss said. “We live a debt-free lifestyle, which not very many people can say. The program has reduced that burden to nothing, and we’re thankful.”
Dealerships across the United States have participated in the program since its inception, including:
Larry H. Miller Auto Group – Peoria, Ariz.
Bill Luke Chrysler Jeep Dodge RAM – Phoenix
Kuni Chevrolet Cadillac – Sacramento, Calif.
Chevrolet of Montebello – Montebello, Calif.
Magnussen's Toyota of Palo Alto – Palo Alto, Calif.
Honda of Pasadena – Pasadena, Calif.
Toyota Marin – San Rafael, Calif.
Executive Auto Group – multiple locations in Connecticut
Billion Automotive – multiple locations in Iowa
Robert Brogden Buick GMC – Olathe, Kan.
Jones Junction – Pleasant Hills, Md.
Luther Brookdale Mazda – Brooklyn Park, Minn.
Walser Automotive Group – Minneapolis
Felix Sabates Ford Lincoln – Charlotte, N.C.
Rick Hendrick City Chevrolet – Charlotte, N.C.
Jim Shorkey Auto Group – Irwin, Pa.
Five Star Automotive – Florence, S.C.
Gullo Ford of Conroe – Conroe, Texas
Classic of Denton – Denton, Texas
Rairdon Auto Group – multiple locations in Washington
Since 2010, Military Warriors Support Foundation has awarded nearly 1,000 mortgage-free homes through its Homes4WoundedHeroes program and has assisted combat-wounded veterans, Gold Star spouses and their families in paying off almost $21 million in debt through family and financial mentorship.
