Southfield, Michigan, Aug. 23, 2023 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has been named one of PEOPLE Magazine’s 100 Companies That Care® by Great Place To Work® and PEOPLE magazine. Credit Acceptance was ranked 27th among the 100 companies that made the list, up 57 spots from a year ago.
Based on survey responses and data from Great Place to Work® from companies representing 7.5 million team members’ experiences, the Companies That Care® list highlights the top US companies that have succeeded in business while also demonstrating outstanding respect, care, and concern for their team members, their communities, and the environment. Companies are assessed on how well they create great team member experiences that cut across race, gender, age, disability status, or any aspect of who team members are or their roles. Rankings also reflect Great Place to Work’s® evaluation of the level of generosity of each organization’s benefits and philanthropic and community support.
“The Companies That Care recognition is unique because it’s based on how well workplaces have positively changed team members’ lives and impacted the broader community,” said Ken Booth, Chief Executive Officer. “Improving people’s lives is at the core of what we do at Credit Acceptance. It’s a purpose reinforced at all levels of the organization, and as we continue to strengthen our community’s culture, this award is an indication of our progress.”
Credit Acceptance strives to go above and beyond to drive possibility for its team members and community. Some examples include the Company’s commitment to providing fair wages, fair working hours, flexible schedules, and career development opportunities to team members. The Company prides itself on its strong workplace culture where people feel heard, respected, and valued. Based on team members’ answers from Credit Acceptance’s Great Place to Work® Trust Index Survey, the Company’s average scores regarding fairness related to age, race, gender, and sexual orientation are 98%, which is 3 percentage points above the 2023 Top 10 average.
Furthermore, Credit Acceptance also works to be a service-oriented Company through volunteer efforts and fundraising events. This year, through team members’ collective efforts, Credit Acceptance successfully raised substantial funds to grant the wishes of 17 individuals through the Make-A-Wish® Foundation, in addition to making a significant contribution to St. Jude Children's Research Hospital.
Credit Acceptance is consistently recognized as one of the best places to work by team members. Earlier this year, the Company ranked 34th in the 100 Best Companies to Work For® and 25th in Best Workplaces for Millennials® by Great Place to Work® and Fortune. Additionally, Credit Acceptance ranked 8th as a Top Workplaces USA 2023 Award winner.
About Credit Acceptance
Since 1972, Credit Acceptance has offered financing programs that enable automobile dealers to sell vehicles to consumers, regardless of their credit history. Our financing programs are offered through a nationwide network of automobile dealers who benefit from sales of vehicles to consumers who otherwise could not obtain financing; from repeat and referral sales generated by these same customers; and from sales to customers responding to advertisements for our financing programs, but who actually end up qualifying for traditional financing.
Without our financing programs, consumers are often unable to purchase vehicles, or they purchase unreliable ones. Further, as we report to the three national credit reporting agencies, an important ancillary benefit of our programs is that we provide consumers with an opportunity to improve their lives by improving their credit score and move on to more traditional sources of financing. Credit Acceptance is publicly traded on the Nasdaq Stock Market under the symbol CACC. For more information, visit creditacceptance.com.
About PEOPLE Companies That Care List
Great Place To Work selected the 2023 PEOPLE Companies That Care List by gathering and analyzing over 1.3 million confidential survey responses from companies representing more than 7.5 million U.S. employees at Great Place To Work Certified™ organizations. Of those, 1.1 million responses came from employees at companies eligible for the list and these rankings are based on that feedback. Company rankings are derived from 60 employee experience questions within the Great Place To Work Trust Index™ Survey.
Investor Relations: Douglas W. Busk Chief Treasury Officer (248) 353-2700 Ext. 4432 IR@creditacceptance.com
