Upbound Group Awards $125,000 to Qualified Recipients through Make a Difference Scholarship Program

Rhea-AI Summary

Upbound Group (NASDAQ: UPBD), a leader in technology-driven leasing solutions, has awarded $125,000 in scholarships through its Make a Difference Scholarship program. In partnership with Scholarship America, 50 students each received $2,500 to support their higher education expenses. This marks the 20th year of this collaboration. The recipients were selected based on academic achievements, leadership, community involvement, and personal circumstances. The scholarships were distributed across Upbound's brands, including Rent-A-Center and Acima. Since 2004, Upbound has granted over $1.3 million in scholarships, aiming to empower youth and support their educational aspirations.

Positive

• $125,000 awarded in scholarships, benefiting 50 students.
• 20th consecutive year partnering with Scholarship America.
• Overall, $1.3 million in scholarships awarded since 2004.
• Scholarships distributed across multiple Upbound brands.
• Focus on supporting academic and personal development of students.

Negative

• No immediate impact on revenue or stock performance.
• Scholarship amount per student ($2,500) may be considered modest.
• Does not address broader financial or operational aspects of the business.

PLANO, Texas--(BUSINESS WIRE)-- Upbound Group, Inc. (NASDAQ: UPBD), a leading provider of technology-driven, flexible leasing solutions for consumers, recently partnered with Scholarship America to award customers, customers’ children and coworkers’ children with $125,000 in scholarships through the Make a Difference Scholarship program. Through the program, a total of 50 qualified current and prospective students were each awarded with $2,500 for their higher education expenses; this was the company’s 20^th year partnering with Scholarship America.

Recipients were selected based on academic record, demonstrated leadership, participation in school, community involvement, honors, work experience, statement of goals/aspirations, and unusual personal or family circumstances. Recipients were selected across all of Upbound’s brands, including Rent-A-Center, Acima, Get It Now!, Home Choice, AcceptanceNOW and Rent-A-Center Franchising International, Inc.

“At Upbound, one of our charitable giving pillars is empowering youth in the communities where we serve and providing them with the tools to reach their full potential,” said Tiffany Wall, SVP – Enterprise Business Operations. “Through this partnership with Scholarship America, we are able to show students that we support them in their pursuit of higher education as they strive to achieve their dreams.”

Since 2004, Upbound has awarded more than $1.3 million in Make a Difference scholarships to students through the program; Wall said the company was honored to have the opportunity to support customers, customers’ children and coworkers’ children once again.

“I am excited to be selected for a Make a Difference scholarship,” said Micah Clark of Plano, Texas. “This scholarship will help me so much by allowing me to focus less on working long hours outside of class and more on learning about engineering.”

About Upbound Group, Inc.

Upbound Group, Inc., (NASDAQ: UPBD) is an omni-channel platform company committed to elevating financial opportunity for all through innovative, inclusive, and technology-driven financial solutions that address the evolving needs and aspirations of consumers. The company's customer-facing operating units include industry-leading brands such as Rent-A-Center^® and Acima^® that facilitate consumer transactions across a wide range of store-based and digital retail channels, including over 2,300 company-branded retail units across the United States, Mexico and Puerto Rico. Upbound Group, Inc., is headquartered in Plano, Texas. For additional information about the Company, please visit our website at Upbound.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240531972524/en/

Media Contact:

Shenekqual “Nikki” Carter

Community Affairs Specialist

972-624-6913

CommunityAffairs@rentacenter.com

Source: Upbound Group, Inc.

FAQ

What is Upbound Group’s Make a Difference Scholarship program?

The Make a Difference Scholarship program by Upbound Group awards scholarships to students, supporting their higher education expenses.

How much did Upbound Group award in scholarships in 2023?

Upbound Group awarded $125,000 in scholarships in 2023.

How many students benefited from Upbound Group’s scholarships?

50 students benefited, each receiving $2,500.

What criteria were used for selecting the scholarship recipients?

Recipients were selected based on academic record, leadership, community involvement, honors, work experience, and personal circumstances.

How long has Upbound Group been partnering with Scholarship America?

Upbound Group has been partnering with Scholarship America for 20 years.

What brands are included under Upbound Group for the scholarship program?

The brands include Rent-A-Center, Acima, Get It Now!, Home Choice, AcceptanceNOW, and Rent-A-Center Franchising International.