Gearing Up for the Future: Acorns and Chevron Announce Collaboration Allowing U.S. Customers To Support Public Schools Through Fuel Purchases
Submitted by: Chevron Corporation
Posted: Oct 01, 2019 – 08:15 AM EST
Irvine, Calif., Oct. 01 /CSRwire/ - Acorns, the country’s fastest-growing financial wellness system with 6.2 million users, has announced a new collaboration with Chevron to support local schools. Acorns, whose mission is to promote the financial well-being of the up and coming, is delighted to help bring Chevron’s #FuelYourSchool program to the national stage digitally. As an Acorns Found Money provider, Chevron currently deposits $0.25 into customers’ Acorns accounts for every $20 of fuel they purchase. During the month of October, Acorns customers can choose to donate this $0.25 reward to support the digital Fuel Your School program to help fund classroom projects through DonorsChoose.org in local communities. Chevron will match that donated reward by adding $0.75, resulting in a $1 donation, up to $500,000 during the promotion period, amplifying the impact each individual can have. The company will also match direct donations from Acorns customers, up to $5,000 per customer, to posted classroom projects during the promotion period.
In 2015, Acorns launched Found Money, a brand provider platform that enables 350 of the world’s leading brands to invest in Acorns customers. When Acorns users shop with Found Money providers, like Chevron, those brands automatically invest a percentage of the purchase into users' Acorns accounts. To date, 1 million Acorns users have received over $9 million in Found Money rewards. Chevron joins an elite group of world-class brands who, together with Acorns, are investing in Americans’ future. Found Money providers include Apple, Nike, Lyft, Walmart, Airbnb, Macy’s, and more. With Found Money, cash-forward is the new cash-back.
“We are thrilled to work with one of the world’s most reputable brands,” said Babak Farrokh-Siar, Acorns Head of Partnerships. “Through this unique collaboration with Chevron, we are empowering millions of Americans with the ability to support local education and invest in their future. Making it easy for people to invest is essential - what better venue than by filling up?”
Like Acorns, Chevron is committed to investing in America’s future. In 2010, Chevron launched the Fuel Your School program which has helped fund over 55,000 classroom projects in the U.S. The program encourages Science, Technology, Engineering and Math (S.T.E.M.) projects to be posted to help foster bright young talent for the future workforce and healthy economic growth for the country. To date, Fuel Your School has donated over $48 million and benefited over 6,400 schools. The Chevron and Acorns collaboration represents a continuation of both mission-driven companies working to create more opportunities for consumers to help make a difference and save.
“We are excited to work with Acorns and connect with our customers on a more personal level,” said Brian Sardelich, Loyalty Manager at Chevron. “Through fuel purchases, customers can choose to donate their rewards to help fund classroom projects posted by teachers in the state that the fuel purchase is made. Customers can now fuel their vehicles while simultaneously investing in their future and communities and supporting local schools.”
As a leading advocate for financial literacy and education, Acorns is proud to support the digital #FuelYourSchool program and empower the up-and-coming around the country.
Acorns is the country’s fastest-growing financial wellness system with more than 6.2 million accounts. Its easy-to-use, mobile-first technology makes it simple for anyone to set aside and invest life’s spare money. Acorns allows customers to automatically invest in a low-cost, diversified portfolio of exchange-traded funds offered by some of the world’s top asset managers (including Vanguard and BlackRock). Customers grow their wealth in one of five portfolios constructed with help from world-renowned Nobel laureate economist Dr. Harry Markowitz. Acorns’ smart portfolio algorithms automatically work in the background of life, helping users build wealth naturally, pennies at a time. From Acorns mighty oaks do grow. Acorns is accessed simply and easily via the app for iPhone, Android or desktop. Visit Acorns.com for more.
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