Southfield, Michigan, July 19, 2023 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has been named one of the Best Workplaces for Millennials® by Fortune. Credit Acceptance was ranked 25th among the 100 large companies that made the list, up 37 spots from last year, marking the seventh time the Company has been recognized.
“This recognition is a testament to millennials’ integral role in Credit Acceptance’s success, especially considering that they make up 57% of our team members,” said Ken Booth, Chief Executive Officer. “We strive to create a work environment where people feel empowered and valued and where millennials and team members of all generations are fulfilled.”
Credit Acceptance effectively incorporates the values and priorities of millennials into its operations. For example, the Company’s average scores for all Trust Index® statements, based on answers of millennial-aged team members, regarding fairness related to age, race, gender, and sexual orientation are 98%, three percentage points above the 2023 Top 10 average. Specific values include:
- Pay equity: 83% agree that “people here are paid fairly for the work they do,” which is five percentage points above the 2023 Top 10 Best score.
- Career development: 89% agree that “management makes its expectations clear,” which is two percentage points higher than the average 2023 Top 10 Best score.
- Fair working hours: 93% agree that “people are encouraged to balance their work life and their professional life,” which is five percentage points above the 2023 Top 10 Best score.
- Flexible schedules: 94% agree with “I am able to take time off from work when I think it’s necessary,” which is one percentage point above the 2023 Top 10 Best score.
“With the largest share of the workforce today, the workplace experience of millennials says a lot about your organization,” says Michael C. Bush, CEO of Great Place To Work. “These workers are looking for authentic leadership, meaningful work, and a healthy work environment — and they show loyalty to those who can deliver.”
Credit Acceptance is routinely recognized as one of the best places to work by team members. This is the second award the Company has received this year from Great Place to Work® and Fortune: Credit Acceptance was ranked 34th in the 100 Best Companies to Work For®, its ninth recognition in the category. Additionally, Credit Acceptance has been named a Top Workplaces USA Award winner and one of People Magazine’s Companies that Care, among many other distinctions.
To determine the Fortune Best Workplaces for Millennials™ List, Great Place To Work collected nearly 500,000 responses from millennials at companies eligible for the list. To be considered, companies had to be Great Place To Work Certified™ and have at least 50 millennial employees in the U.S.
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 the Fortune Best Workplaces for Millennials List
Great Place To Work selected the Fortune Best Workplaces for Millennials List by surveying companies employing 7.5 million people in the U.S. with 1.3 million confidential survey responses received. Of those, nearly 500,000 responses were received from millennials at companies eligible for the list and these rankings are based on that feedback. Read the full methodology.
About Great Place to Work®
As the global authority on workplace culture, Great Place To Work brings 30 years of groundbreaking research and data to help every place become a great place to work for all. Their proprietary platform and For All™ Model help companies evaluate the experience of every employee, with exemplary workplaces becoming Great Place To Work Certified™ or receiving recognition on a coveted Best Workplaces™ List.
About Fortune
The Fortune mission is to change the world by making business better. We achieve that by providing trusted information, telling great stories, and building world-class communities. We measure performance by rigorous benchmarks. And we hold companies accountable. Our goal is to make Fortune a force for good through its second century and beyond. For more information, visit www.fortune.com.
Investor Relations: Douglas W. Busk Chief Treasury Officer (248) 353-2700 Ext. 4432 IR@creditacceptance.com
