Credit Acceptance Named a Most Loved Workplace® in 2024 in Several Categories

Rhea-AI Summary

Credit Acceptance (Nasdaq: CACC) has been recognized as a Most Loved Workplace® for 2024 by the Best Practice Institute (BPI) in multiple categories. This accolade highlights the company's commitment to fostering a supportive and inclusive culture that enhances employee well-being, psychological safety, retention, and performance. CEO Ken Booth emphasized the importance of listening to team members to identify opportunities and better serve their dealers. Credit Acceptance was honored in categories such as Career Advancement, LGBTQ+, Parents and Caregivers, Volunteering, Women, Young Professionals, Wellness, and Veterans. Additionally, Ken Booth was named a Most Loved CEO. BPI's research, surveying over 175 companies and 3,000 executives, shows that employee sentiment significantly boosts productivity and retention. Credit Acceptance's innovative financing solutions enable automobile dealers to sell vehicles to consumers, including those with poor credit histories, thereby enhancing their chances of improving their credit scores.

Southfield, Michigan, June 26, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has been named a Most Loved Workplace^® for 2024 in several categories by the Best Practice Institute (BPI). These lists honor organizations that set a new standard for workplace excellence and demonstrate the power of a culture that fuels overall employee well-being, psychological safety, retention, and performance.

“Being named to these lists reflects our team’s remarkable achievements and the supportive culture we’ve nurtured,” said Ken Booth, Credit Acceptance CEO. “Our continued commitment to listen to our team members puts us in a position to hear from those closest to the work and identify opportunities that will benefit our dealers. By doing this, we can better live up to our mission to make car ownership accessible to those that need it most.”

As a result of a company-wide survey, the Company was recognized in the following categories: Most Loved Company for Career Advancement, LGBTQ+, Parents and Caregivers, Volunteering, Women, Young Professionals, Wellness, and Veterans, and our CEO was also named to the Most Loved CEO list.

The Most Loved Workplace^® lists celebrate organizations worldwide that prioritize building a strong foundation for all their employees. Backed by the research and analysis of BPI, Most Loved Workplace validation provides the most comprehensive look at workplace sentiment for organizations today. Surveying more than 175 companies and more than 3,000 executives across the United States, the Middle East/Northern Africa, and Southeast Asia, the survey found that productivity rises as employee sentiment increases, with 94 percent of responders saying they did three to four times more work for a company they loved and 95 percent saying they stayed at companies they loved three to four times longer. To learn more about the BPI, visit  bestpracticeinstitute.org.

About Credit Acceptance
We make vehicle ownership possible by providing innovative financing solutions 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.

FAQ

What is Credit Acceptance's stock symbol?

Credit Acceptance's stock symbol is CACC.

When was Credit Acceptance named a Most Loved Workplace®?

Credit Acceptance was named a Most Loved Workplace® for 2024.

Who conducted the survey that recognized Credit Acceptance as a Most Loved Workplace®?

The survey was conducted by the Best Practice Institute (BPI).

What categories did Credit Acceptance get recognized in as a Most Loved Workplace®?

Credit Acceptance was recognized in several categories, including Career Advancement, LGBTQ+, Parents and Caregivers, Volunteering, Women, Young Professionals, Wellness, and Veterans.

Why is being named a Most Loved Workplace® significant for Credit Acceptance?

Being named a Most Loved Workplace® reflects Credit Acceptance's supportive culture, which enhances employee well-being, psychological safety, retention, and performance.

What did CEO Ken Booth say about Credit Acceptance being named a Most Loved Workplace®?

CEO Ken Booth stated that the recognition reflects the team's achievements and the supportive culture fostered within the company.

How does Credit Acceptance's workplace culture impact their mission?

Credit Acceptance's supportive workplace culture allows them to better hear from team members, identify opportunities, and live up to their mission of making car ownership accessible to those who need it most.

What is the impact of employee sentiment on productivity, according to BPI's research?

BPI's research shows that employee sentiment significantly boosts productivity, with 94% of responders doing three to four times more work for a company they love.

What is Credit Acceptance's approach to vehicle financing?

Credit Acceptance provides innovative financing solutions through a nationwide network of automobile dealers, enabling them to sell vehicles to consumers regardless of their credit history.

What is the benefit of Credit Acceptance's financing programs to consumers?

Credit Acceptance's financing programs help consumers improve their credit scores, making them eligible for more traditional sources of financing in the future.