The Wells Fargo Foundation, established in the U.S. as a registered 501(c)(3) charitable organization in 1980, is the company’s primary philanthropic funding arm. In 2018, the foundation donated nearly half a billion dollars to 11,000 nonprofit organizations, including the Aerospace Joint Apprenticeship Committee (AJAC).
AJAC is also a non-profit 501(c)(3) that provides registered apprenticeship training to adult workers and high school youth, and a pre-apprenticeship training program (Manufacturing Academy), which prepares job seekers for employment and apprenticeship opportunities across the state of Washington in the aerospace and advanced manufacturing industries. Students who enroll in AJAC’s Manufacturing Academy (MA) are looking to kick start their future by attaining a full-time job and continued career training through AJAC’s available apprenticeship programs leading to sustainable income, and some semblance of financial freedom. A new partnership between Wells Fargo and AJAC provides more than just manufacturing training to help students get closer to their goals.
Dwight J. Prevo, Vice President of Wells Fargo’s Community Relations West Region, spoke about the importance of learning financial literacy skills, especially for individuals starting new career paths. Prevo states, “As the majority of AJAC participants will start career opportunities that provide wages, providing financial education is a way to ensure that recipients of the instruction understand how money works, and how to effectively utilize money as a way to accomplish their short and long term objectives.”
Local Wells Fargo team members use the Wells Fargo At WorkSM program to help AJAC apprentices establish healthy financial habits and achieve greater financial stability and success. The program also allows students to participate in financial health webinars and conversations with a phone banker on topics like budgeting, saving, or strengthening credit. Wells Fargo’s free, non-commercial Hands on Banking program is an additional resource with a bevy of interactive financial wellness courses. Students enrolled in MA will receive the one-hour training twice a month for the duration of the program and learn skills ranging from basic finance to managing more advanced financial resources. Zuleima Flores, a summer graduate from AJAC’s Kent Manufacturing Academy, explained the class “was a great time to reflect on pursuing a career and one day owning my own home.”
Lynn Strickland, Executive Director of AJAC, feels a responsibility for educators to take students future into consideration, “AJAC’s goal is to help people prepare for a prosperous future and through our partnership with Wells Fargo, students will now be more prepared to make healthy financial decisions on their pathway to apprenticeship.”