Most Innovative Companies: U-Haul Honored for U-Box Load Share Program

Rhea-AI Summary

U-Haul's U-Box Load Share program has been honored as a 2024 Champion of Change for its innovative and environmentally friendly approach. Recognized on May 16 at the DoubleTree Resort in Paradise Valley, the program is designed to support the gig economy by allowing customers to tow another family's portable moving container, reducing the need for freight tractor-trailers. This initiative has completed over 35,000 Load Shares, offering cost savings, enhancing safety, and promoting sustainability. U-Haul's commitment to shared-use products and environmental responsibility has earned it multiple awards, including the 2023 Best in Biz Awards gold winner for Most Environmentally Friendly Service of the Year.

Positive

• U-Box Load Share honored as a 2024 Champion of Change.
• Over 35,000 Load Shares completed, highlighting program success.
• Program reduces need for freight tractor-trailers, promoting sustainability.
• Multiple awards received, including 2023 Best in Biz gold for Most Environmentally Friendly Service.
• Cost savings benefit consumers and fund safer, newer equipment.
• Program supports gig economy and community collaboration.
• Commitment to environmental initiatives, including Adaptive Reuse and green product innovations.

Negative

• No direct financial profits from U-Box Load Share for U-Haul.
• Potential risk in managing and monitoring Load Shares effectively.

PHOENIX, May 20, 2024 /PRNewswire/ -- U-Box^® Load Share, the latest green initiative from U-Haul^® to support today's gig economy, is a 2024 Champions of Change honoree.

U-Haul was among 10 finalists recognized as the "Most Innovative" companies on May 16 at the DoubleTree Resort in Paradise Valley, thanks to its implementation of the groundbreaking Load Share program.

The Champions of Change awards are hosted by Az Business Magazine, an AZ Big Media publication, to celebrate dynamic innovators and trailblazers, visionary thinkers and philanthropists, and business and nonprofit leaders across Arizona.

"Being named a Champion of Change is a great honor, and it's further affirmation that U-Box Load Share is needed in today's economy," said Sam Shoen, U-Box Program Director. "The environmental impact of Load Share is very real, and our customers appreciate that along with the many other benefits. We are providing a safe, collaborative way to engage in smarter and greener moving solutions."

This is the latest in a line of commendations for U-Box Load Share. In December, it was named the 2023 Best in Biz Awards gold winner for Most Environmentally Friendly Service of the Year. It also earned silver awards for Most Innovative Service of the Year and Consumer Service of the Year.

That comes on the heels of winning 2022 Sustainability Service of the Year from The Business Intelligence Group and being named a 2022 Social Impact Awards finalist by PR News.

How does U-Box Load Share work?

A Load Share occurs when a family moving its belongings in a U-Haul truck agrees to tow a trailer loaded with another family's U-Box portable moving container to the same destination city. Each transaction is monitored and managed by centralized U-Haul personnel. A vetting process is used to pre-select potential candidates, with priority on those customers with previous rental truck and towing experience.

When a Load Share is performed, the cost savings from not needing to contract a freight tractor-trailer for the U-Box shipment is allocated in three ways:

• A discount to the U-Haul truck rental customer's rate
• Lower one-way rates charged to all U-Box customers
• Funding newer and safer equipment, and retrofitting existing equipment with improved safety and convenience features

The unique thing about U-Box Load Share is that it is not intended nor designed to make U-Haul a profit. It was created to facilitate people helping people and benefit the environment. To date, more than 35,000 Load Shares have been completed.

Shared Use, Shared Responsibility

Allan Yang, U-Haul Chief Sustainability Officer and Scientist, noted that awards for U-Box Load Share underline the Company's commitment to sustainability, decarbonization and industry-defining innovation.

"U-Haul is a shared-use business," Yang stated. "Our shared-use products and services not only address the challenges of resource efficiency, but also cultivate a sense of community among our sustainability stakeholders. By pooling resources and optimizing the towing capacity of trucks, U-Box Load Share brings forth a paradigm shift towards sustainable and shared mobility."

Beyond U-Box Load Share, U-Haul environmentally friendly initiatives include the Company's core model of having communities share a moving truck or trailer rather than individuals needing to own trucks and large-capacity vehicles to transport their belongings; U-Haul Adaptive Reuse, a program for preserving and repurposing existing buildings for new stores rather than engaging in teardowns and ground-up projects with each acquisition, thus reducing carbon emissions and the need for new-building materials (about 70% of U-Haul-owned facilities are the result of Adaptive Reuse); U-Haul truck modifications to incorporate a low profile, rounded corners and advanced chassis skirts to reduce wind drag and improve fuel economy up to 20% (in addition to fuel economy gauges in every new-production U-Haul truck); and green products like plastic U-Haul Ready-To-Go Boxes^® that get shared hundreds of times before being recycled.

About U-HAUL

Founded in 1945, U-Haul is the No. 1 choice of do-it-yourself movers with more than 23,000 rental locations across all 50 states and 10 Canadian provinces. The enhanced U-Haul app makes it easier for customers to use U-Haul Truck Share 24/7 to access trucks anytime through the self-dispatch and self-return options on their smartphones through our patented Live Verify technology. Our customers' patronage has enabled the U-Haul fleet to grow to 192,200 trucks, 138,500 trailers and 44,500 towing devices. U-Haul is the third largest self-storage operator in North America with 967,000 rentable units and 83.3 million square feet of self-storage space at owned and managed facilities. U-Haul is the top retailer of propane in the U.S. and the largest installer of permanent trailer hitches in the automotive aftermarket industry. Get the U-Haul app from the App Store or Google Play.

Contact:

Jeff Lockridge
E-mail: publicrelations@uhaul.com
Phone: 602-760-4941
Website: uhaul.com

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SOURCE U-Haul

FAQ

What is U-Haul's U-Box Load Share program?

U-Box Load Share allows customers to tow another family's portable moving container to the same destination, reducing the need for freight tractor-trailers and promoting sustainability.

Why was U-Haul's U-Box Load Share program honored?

The program was recognized for its innovative approach to sustainability and its support of the gig economy, earning the 2024 Champion of Change award.

How many Load Shares have been completed by U-Haul's U-Box program?

Over 35,000 Load Shares have been completed.

What are the benefits of U-Haul's U-Box Load Share program?

The program offers cost savings, reduces the need for freight tractor-trailers, promotes safety, and supports environmental sustainability.

What awards has U-Haul's U-Box Load Share program won?

The program has won multiple awards, including the 2024 Champion of Change and the 2023 Best in Biz Awards gold for Most Environmentally Friendly Service.