Chevron & Acorns Team Up on Fuel Initiative to Benefit Local Schools
SAN RAMON, Calif. — Chevron Corp. is teaming up with Acorns, a financial wellness system, to support local schools through the #FuelYourSchool initiative.
As an Acorns Found Money Partner, Chevron currently invests 25 cents into customers' Acorns accounts for every $20 of fuel they purchase. During the month of October, Acorns customers can donate this 25-cent reward to classroom projects in local communities. Chevron will round up each donation by 75 cents, resulting in a $1 donation. The company will also match any lump sum donations from Acorns customers during the promotion.
"We are excited to partner with Acorns and connect with our customers on a more personal level," said Brian Sardelich, loyalty manager at Chevron. "Fuel is an essential purchase, and our new partnership allows it to be a meaningful one. Customers can now fuel their vehicles while simultaneously investing in their future and communities."
The Chevron and Acorns partnership represents a continuation of both mission-driven companies working to create more opportunities for consumers to make a difference and save, the companies announced.
In 2010, Chevron launched the Fuel Your School program which has helped fund more than 55,000 classroom projects across the U.S. The program invests heavily into Science, Technology, Engineering and Math (S.T.E.M.) and fosters bright young talent for the future workforce and healthy economic growth for the country, according to the company. To date, Fuel Your School has donated more than $48 million and benefited more than 6,400 schools nationwide.
In 2015, Acorns launched Found Money, a brand partnership platform that enables 350 of the world's leading brands to invest in Acorns customers. When Acorns users shop with Found Money partners, like Chevron, those brands automatically invest a percentage of the purchase into users' Acorns accounts. To date, 1 million Acorns users have received more than $9 million in Found Money rewards.
"We are thrilled to partner with one of the world's most reputable brands," said Babak Farrokh-Siar, Acorns' head of partnerships. "Through this unique partnership with Chevron, we are empowering millions of Americans with the tools they need to support local education and invest in their future. Making it easy for people to invest is essential — what better venue than at the pump?"
San Ramon-based Chevron is one of the world's largest integrated energy companies.