In Honor of 25 Years in Business, PRA Group Increases Charitable Giving By $250,000

Rhea-AI Summary

PRA Group, a leader in acquiring nonperforming loans, has announced a $250,000 increase in its annual charitable giving, celebrating its 25th anniversary. This initiative enables employees to nominate organizations worldwide, resulting in over 200 nominations. Notable beneficiaries include The Terry Fox Foundation and St. Jude Children's Research Hospital. Since 2009, PRA Group has contributed over $7.8 million to various charitable causes. The company emphasizes community engagement, enhanced by virtual events due to COVID-19 restrictions, and maintains a robust employee matching program.

Positive

• Increased charitable giving by $250,000, totaling over $7.8 million since 2009.
• Employee engagement through nominations, resulting in over 200 global organization selections.

Negative

• None.

NORFOLK, Va., Dec. 15, 2021 /PRNewswire/ -- PRA Group, Inc. (Nasdaq: PRAA), a global leader in acquiring and collecting nonperforming loans, is adding $250,000 to its annual charitable giving budget in honor of its 25^th anniversary year. The company invited its global base of employees to select 10 organizations around the world to benefit from the gift.

Through company-wide nominations and surveys, PRA Group's employees chose to support the following organizations:

• The Terry Fox Foundation, Canada, health services;
• Ezer Mizion, Israel, health services;
• Mental Helse, Norway, health services;
• Macmillan Cancer Support, United Kingdom, health services;
• Alzheimer's Association, United States, health services;
• Habitat for Humanity affiliates, United States, human services;
• Semper Fi & America's Fund, United States, military and veteran support;
• St. Jude Children's Research Hospital, United States, health services;
• The Salvation Army, United States, human services;
• The Trevor Project, United States, human services.

Unable to volunteer in-person at the same level during the COVID-19 pandemic, PRA Group began to approach giving back through virtual events, contactless donation drives, community engagement programs and increased donations, which led to the inception of $250,000 for 25 Years. Overall, the employee campaign resulted in over 200 nominations worldwide.

"For the past 25 years, giving back has been and continues to be central to our business' success, and we could not celebrate this milestone without expressing our gratitude to our employees and nonprofit partners for their commitment to strengthening communities around the world," said Kevin Stevenson, president and CEO of PRA Group. "The nomination process gave us the opportunity to connect with the individuals who make our company great over personal stories about what these organizations mean to them, and we're left feeling overwhelmingly proud of our PRA family and its heart for giving."

Maricela Chavez, bilingual senior account executive, core operations, at PRA Group's Dallas Regional Office, nominated The Salvation Army and recalls being "raised by a single mother who did her best to provide for three children. During harsh Chicago winters when my mother's job slowed down, she relied on The Salvation Army to help us with Christmas gifts, groceries and assistance with some household bills. The volunteers were always so compassionate and willing to go above and beyond. Now that I'm grown, I've been dedicated to helping out the same organizations that helped my family in the past."

Founded on reinventing the debt collection industry by doing things differently, PRA Group has always prioritized giving back to the communities where its employees live and work. In addition to annual giving, PRA Group has a robust employee matching program and offers its employees paid time off to participate in volunteer days.

Since 2009, PRA Group has contributed more than $7.8 million to charitable causes dedicated to strengthening the vitality of communities across the globe.

About PRA Group
As a global leader in acquiring and collecting nonperforming loans, PRA Group returns capital to banks and other creditors to help expand financial services for consumers. With thousands of employees worldwide, PRA Group companies collaborate with customers to help them resolve their debt. For more information, please visit www.pragroup.com.

News Media Contact:
Elizabeth Kersey
Senior Vice President, Communications and Public Policy
(757) 961-3525
Elizabeth.Kersey@PRAGroup.com

Investor Contact:
Pete Graham
Executive Vice President and Chief Financial Officer
(757) 431-7913
IR@PRAGroup.com 

View original content to download multimedia:https://www.prnewswire.com/news-releases/in-honor-of-25-years-in-business-pra-group-increases-charitable-giving-by-250-000--301445263.html

SOURCE PRA Group

FAQ

What is the significance of the $250,000 increase in PRAA's charitable giving?

The $250,000 increase in PRAA's charitable giving celebrates its 25th anniversary, reflecting the company's commitment to community support.

How has PRAA engaged its employees in charitable efforts?

PRAA involved employees by allowing them to nominate organizations for charitable support, resulting in over 200 nominations.

Which organizations will benefit from PRAA's increased charitable donations?

Organizations benefiting from PRAA's increased charitable donations include The Terry Fox Foundation and St. Jude Children's Research Hospital.

How much has PRAA donated to charitable causes since 2009?

Since 2009, PRAA has donated over $7.8 million to various charitable causes.

What initiatives has PRAA introduced due to COVID-19?

Due to COVID-19, PRAA introduced virtual events and contactless donation drives to engage in community support.