Southfield, Michigan, Nov. 20, 2023 (GLOBE NEWSWIRE) — Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has been named a winner of the 2023 Detroit Free Press Top Workplaces. We ranked #2 among the top large companies in Michigan, up one spot from last year. This is the 12th year in a row that the Company has been recognized with this award by the Detroit Free Press.
The rankings are based on feedback received from Credit Acceptance team members through anonymous surveys administered by Energage, LLC, an employee research and culture technology firm that partners with the Detroit Free Press to determine each year’s winners. Responses take into account cultural drivers that are critical to the success of the organization, including alignment, execution, and connection.
“Two things are true for us at Credit Acceptance: We’ve called Michigan home for more than 50 years, and our team members are dedicated to driving possibility for those who need financing the most,” said Ken Booth, Chief Executive Officer, Credit Acceptance. “Our team members are essential in bringing this mission to life every day, and we are devoted to creating a nurturing workplace that positions them for success. This award encourages us to sustain and grow our culture.”
Credit Acceptance’s core values of PRIDE (Positive, Respectful, Insightful, Direct, and Earnest) are integrated in the Company’s hiring processes, workplace, communications, and performance management. As a result, Credit Acceptance strives to uphold a sense of fairness and trust with its 2,200+ team members to ensure they feel heard, respected, and valued.
With almost 95% of our team working fully remotely every day, it takes the commitment of everyone to maintain our amazing culture. Although nearly half of all companies don’t let their staff work remotely at all and only 16% are fully remote, we’ve found this benefit offers a better work-life balance and a flexible work schedule.
The Company’s longstanding footprint in Michigan has also cultivated community partnerships that are sustained through volunteer efforts and fundraising events championed by the Company’s team members. Most recently, Credit Acceptance team members came together to raise over $43,000 for Stone Soup Food Bank, a local Michigan food pantry that has distributed over 2.1 million pounds of food this year.
Credit Acceptance is consistently recognized as one of the best places to work by team members. Earlier this year, the Company was recognized four times by Great Place to Work® and Fortune, ranking 34th in the 100 Best Companies to Work For®, 9th in the Best Workplaces in Financial Services & Insurance™, 25th in the Best Workplaces for Millennials™, and 76th in the Best Workplaces for Women™. Additionally, Credit Acceptance ranked 8th as a Top Workplaces USA 2023 Award winner and 27th in PEOPLE Magazine’s 100 Companies That Care®.
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 Energage
Energage is a purpose-driven technology company that powers Top Workplaces, the nation’s premier employer recognition program. Analyzing data from a research-backed employee engagement survey, Energage identifies people-first Top Workplaces across the country, and regionally, in partnership with 60 of the nation’s most reputable media outlets. Quarterly national awards include culture excellence and industry recognition. Energage empowers organizations to exceed the competition, evaluate their stand in the market, and engage with employees. Over 27 million employees across more than 70,000 organizations have completed the Workplace Survey, including some of the nation’s leading brands.
CONTACT: Investor Relations: Douglas W. Busk Chief Treasury Officer (248) 353-2700 Ext. 4432 IR@creditacceptance.com
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