March 23, 2016, 4:51 AM EDT
Junior Achievement of the Upper Midwest’s BizTown Business Center Gets New Look with Support from Synchrony Financial
Synchrony Financial remains committed to youth financial literacy and career empowerment through its volunteerism
Stamford, Conn. and St. Paul, Minn.
STAMFORD, Conn. and ST. PAUL, Minn. – March 23, 2016 – Synchrony Financial (NYSE: SYF ), a premier consumer financial services company with 80 years of retail heritage, today reaffirmed its longtime support for Junior Achievement of the Upper Midwest with a ribbon-cutting at its newly-branded Synchrony Financial Business Center.
Synchrony Financial, as part of its community giving and Community Reinvestment Act activities, provides charitable support for the Synchrony Financial Business Center for both Junior Achievement (JA) Finance Park and JA BizTown. At JA Finance Park, students visit the Business Center to learn about securing a personal loan as part of their research in creating their personal financial budget. At JA BizTown, students at the Business Center utilize the 300 square-foot space, and the technology within it, to create business and personal web pages, prepare business forms, conduct market research and data analysis, and develop retail items for JA BizTown consumers.
JA BizTown is a 10,000 square-foot, business simulation within Junior Achievement headquarters in Maplewood, Minnesota. Several weeks of classroom learning culminate in a day-long visit to this fully-interactive, simulated free market facility where middle school students work in one of 15 JA BizTown shops and learn what it takes to run a successful business, manage a checking account and work as a team.
JA Finance Park gives middle and high school students an opportunity to develop personal money management skills, acquire personal finance knowledge and prepare for financial decisions and challenges in their adult lives. During this one-day experience, students assume family and income scenarios and visit businesses to gather information for their personal financial decision-making. They use bank services; contribute to charities; purchase housing, transportation, furnishings, food, health care, and other expenses; and make investment decisions, while working to balance their budgets.
Synchrony Financial employees volunteered more than 400 hours to Junior Achievement of the Upper Midwest in 2015, participating in activities such as JA in a Day, JA BizTown, and JA bigBowl. Synchrony Financial, operating until 2014 as GE Capital Retail Finance Corporation, has been a supporter of JA since 2008.
“Our participation in JA activities and our support for Junior Achievement reflects our commitment to improve the quality of each life we touch,” said Synchrony Financial Executive Vice President and Chief Operating Officer Kurt Grossheim. “We share Junior Achievement’s passion for preparing today’s students for life and careers that may help them to be more economically secure and stable in the their adulthoods; we are excited to be part of their efforts here in Minnesota.”
Synchrony Financial has been in St. Paul since 2003, with functions that include marketing, risk, finance, legal and compliance. The company is committed to volunteerism in communities where its employees live and work. Employees at the St. Paul site volunteered more than 680 hours to local charitable organizations in 2015, and more than 200 hours so far in 2016.
“Synchrony Financial’s support for Junior Achievement allows us to better prepare our children for a lifetime of learning and educational achievement,” said Gina Blayney, president & CEO of Junior Achievement of the Upper Midwest. “We’re grateful for their engagement and support in the future of our children.”
About Synchrony Financial
Synchrony Financial (NYSE: SYF) is one of the nation’s premier consumer financial services companies. Our roots in consumer finance trace back to 1932, and today we are the largest provider of private label credit cards in the United States based on purchase volume and receivables.* We provide a range of credit products through programs we have established with a diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers to help generate growth for our partners and offer financial flexibility to our customers. Through our partners’ over 350,000 locations across the United States and Canada, and their websites and mobile applications, we offer our customers a variety of credit products to finance the purchase of goods and services. Synchrony Financial (formerly GE Capital Retail Finance) offers private label and co-branded Dual Card™ credit cards, promotional financing and installment lending, loyalty programs and FDIC-insured savings products through Synchrony Bank. More information can be found at www.synchronyfinancial.com, facebook.com/SynchronyFinancial and twitter.com/SYFNews.
*Source: The Nilson Report (April, 2015, Issue # 1062) - based on 2014 data.
About Junior Achievement of the Upper Midwest
Junior Achievement of the Upper Midwest has been serving students in Minnesota, North Dakota and western Wisconsin since 1949. This school year we will reach approximately 161,000 students in grades K-12 with financial literacy, college and career readiness and entrepreneurship education. Our programs are implemented by more than 8,000 volunteers, mostly business professionals, who share their skills and experience to motivate and inspire students to succeed. Learn more at www.jaum.org.
For Synchrony Financial – (855) 791-8007 or email@example.com
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