KFC’s independent, non-profit organization the KFC Foundation, which is fueled by franchisees, announced a personal finance program Wednesday (April 11) intended to help employees improve their financial lives through skills training and other programs. Called MyChange, the company’s latest charitable offering for employees is a partnership with mobile financial wellness service Sum180.
“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,” Krista Snider, managing director, the KFC Foundation, said in a statement.
How this works for U.S. KFC employees is simple: MyChange pairs a confidential financial wellness app with a personal adviser to empower employees to take charge of their money, the company said.
- 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
KFC said employees picked financial counseling as a primary need during its latest company-sponsored “Your KFC Voice” engagement survey. The other request ahead of counseling was college scholarships.
“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,” Carla Dearing, CEO and founder, Sum180, said in a statement.
The KFC Foundation has several other offerings for employees, including Rise with GEDworks (personalized high school credential assistance), the KFC Family Fund, which helps with hardships away from work, and the REACH Educational Grant Program (college tuition assistance at $2,000, $2,5000, and $3,000 award levels).
The KFC Foundation receives the majority of its financial backing from the Cole Slaw Donation Program, a voluntary initiative where KFC franchisees elect to have a portion of the sales of cole slaw donated to an average of $1 per employee, per month.
The KFC Foundation has awarded $17 million to more than 4,5000 students and KFC employees since 2006.