A new video released by the Financial Services Roundtable and Toyota Financial Services today highlights the importance of banks and other financial institutions playing an active role in educating more Americans about money management, saving and the use of financial tools.
“I think the biggest challenge we see in financial education is that it’s not commonly included in curriculum in schools, and we think as a result there’s a gap there and there’s great opportunities for companies to help fill that gap,” said Michael R. Groff, President and CEO of Toyota Financial Services.
Groff, who describes financial education investment as a “winner for everybody,” is one of many leading executive voices within the Financial Services Roundtable’s Corporate Social Responsibility program.
“I think the business case for promoting financial literacy for any company is the right thing to do,” he said. “It’s important for our businesses. We want customers to make good financial decisions. We want them to be customers for life, so we like the idea that they’re educated and they know what they’re signing up for and ultimately they’re satisfied with their experience with us.”