U.S. Bank, Opendorse Team up to Deliver Comprehensive Financial Literacy Education to Student-Athletes
August 30 2022 - 10:00AM
Business Wire
First-of-its-kind collaboration will empower 80,000+ athletes
with access to financial education
U.S. Bank and Opendorse today announced a strategic
collaboration that will bring financial literacy education to
thousands of student-athletes navigating the emerging landscape of
name, image and likeness.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20220830005124/en/
Through a first-of-its-kind
collaboration, 80,000+ athletes on the Opendorse platform will have
access to U.S. Bank Financial Fitness, a customized financial
literacy program curated specifically for student-athletes. (Photo:
Business Wire)
A recent change in NCAA policy now allows student-athletes to
monetize the use of their name, image and likeness, commonly
referred to as NIL, for commercial or promotional purposes.
Examples of NIL activities in the sports world range from use of an
athlete’s name on a jersey for sale to an athlete making an
appearance on a commercial or advertisement.
To help student-athletes maximize this newfound revenue stream,
financial education and college banking experts at U.S. Bank worked
closely with curriculum specialists at Opendorse to create U.S.
Bank Financial Fitness™, a customized financial literacy program
curated specifically for student-athletes. All 80,000+ athletes on
Opendorse, the leading technology provider in the athlete
endorsement industry, will have the opportunity to learn how to
gameplan for creating short-term and long-term wealth for
themselves and their families.
“For student-athletes making their first dollars through NIL or
pros who have been doing it for years, financial literacy and money
management is essential,” said Opendorse co-founder/CEO Blake
Lawrence. “We’re proud to work alongside U.S. Bank in this
groundbreaking collaboration to provide athletes with valuable
resources so they can safely navigate NIL and maximize their
financial opportunities.”
U.S. Bank Financial Fitness™ aligns with Opendorse’s
longstanding vision to help every athlete and their supporters
understand, build, protect, and monetize their brand value.
Programming was developed in short-form format specifically to
align with how young people engage digitally and will consist of a
series of modules covering budgeting, taxes, financial planning,
and more. Initial content rolling out this month focuses on the
themes of understanding your money, how to view your money when it
comes to paycheck deductions and income tax, and general budgeting.
Student-athletes can access the content on the Opendorse app and
the newly redesigned athlete homepage of the Opendorse website.
“We hear from student-athletes that they are excited about NIL,
but want help in understanding how to manage their money, and set
themselves up for success,” said Kaori Yamada, senior vice
president of financial education strategy at U.S. Bank. “Through
our collaboration with Opendorse, we are helping student-athletes
think about where they are with their money and build their
knowledge and confidence to achieve their goals, all through a
digital experience that they can access anytime.”
U.S. Bank has a longstanding commitment to supporting
communities by empowering individuals and businesses with a
holistic approach. Last year alone, 1.5 million individuals were
served with financial education through philanthropy and U.S. Bank
employee volunteerism, with a focus on diverse and underserved
communities. Through free financial education like its Financial IQ
website, regular webinars and newsletters, U.S. Bank provides
resources to help build smart financial habits through
understanding savings vs. investing, credit, debt, elder fraud,
homeownership, college prep, job planning, and more.
Student-athletes can access additional information and resources
for financial wellness via the U.S. Bank Financial Fitness™ section
of the U.S. Bank website.
About U.S. Bank U.S. Bancorp, with approximately 70,000
employees and $591 billion in assets as of June 30, 2022, is the
parent company of U.S. Bank National Association. The
Minneapolis-based company serves millions of customers locally,
nationally and globally through a diversified mix of businesses:
Consumer and Business Banking; Payment Services; Corporate &
Commercial Banking; and Wealth Management and Investment Services.
The company has been recognized for its approach to digital
innovation, social responsibility, and customer service, including
being named one of the 2022 World’s Most Ethical Companies and
Fortune’s most admired superregional bank. Learn more at
usbank.com/about.
About Opendorse Opendorse, the NIL company, is the
leading technology provider in the athlete endorsement industry.
More than 80,000 athletes use Opendorse to build and monetize their
name, image, and likeness (NIL) with support from thousands of
brands, fans, sponsors, donors, and partners including the PGA
TOUR, NFLPA, MLBPA, WNBPA, LPGA, over 100 professional and
collegiate sports teams.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220830005124/en/
Tessa Bajema, U.S. Bank Public Affairs & Communications
tessa.bajema@usbank.com | 480.227.1073
US Bancorp (NYSE:USB)
Historical Stock Chart
From Jun 2024 to Jul 2024
US Bancorp (NYSE:USB)
Historical Stock Chart
From Jul 2023 to Jul 2024