Credit Acceptance Named One of the Fortune 2023 Best Workplaces in Financial Services & Insurance™

Credit Acceptance Corporation

Southfield, Michigan, Sept. 12, 2023 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has been named one of the 2023 Best Workplaces in Financial Services & Insurance™ by Great Place to Work^® and Fortune for the ninth year in a row. Credit Acceptance was ranked #9 among the 50 companies in the large company category, up 3 spots from a year ago.

The Best Workplaces in Financial Services & Insurance™ list is based on analysis of survey responses from more than 191,000 employees from Great Place to Work-Certified™ companies in the financial services and insurance industry, assessing both the quality and consistency of great employee experiences, defined by high levels of trust, respect, credibility, fairness, pride, and camaraderie. In that survey, 92% of Credit Acceptance team members said Credit Acceptance is a great place to work, compared to 57% of employees at a typical U.S.-based company.

“Credit Acceptance makes it possible for any American to buy a car from a dealer when they would otherwise be turned away by traditional auto lenders, and our team members help bring this mission to life every day,” said Ken Booth, Chief Executive Officer. “This recognition is proof that our collective efforts to invest in a strong work culture is paying off, and people enjoy where they work, trust their co-workers and leaders, and have pride in what they do.”

The Credit Acceptance team works to uphold a sense of equity and trust between the Company and team members to ensure people feel heard, respected, and valued. For example, the Company’s average scores from Great Place to Work^® Trust Index Survey demonstrate high levels of trust and support among team members with notable results being:

• 90% agree that “everyone has an opportunity to get special recognition,” which is 3 percentage points above the 2023 Top 10 Best score.

• 90% agree that “people are encouraged to balance their work life and their personal life,” which is 2 percentage points above the 2023 Top 10 Best score.

• 86% agree that “promotions go to those who best deserve them,” which is 7 percentage points above the 2023 Top 10 Best score.
  
  

Credit Acceptance is consistently recognized as one of the best places to work by team members. Earlier this year, the Company ranked 34^th in the 100 Best Companies to Work For^® and 25^th in Best Workplaces for Millennials^® by Great Place to Work^® and Fortune. Additionally, Credit Acceptance ranked 8^th as a Top Workplaces USA 2023 Award winner and 27^th 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 the Fortune Best Workplaces in Financial Services & Insurance™

Great Place to Work selected the 2023 Fortune Best Workplaces for Financial Services & Insurance by gathering and analyzing confidential survey responses from more than 191,000 employees from Great Place to Work Certified companies in the financial services and insurance industry. Company rankings are derived from 60 employee experience questions within the Great Place to Work Trust Index™ Survey. Great Place to Work determines its lists using its proprietary For All Methodology to evaluate and certify thousands of organizations in America’s largest ongoing annual workforce study. In the last year, 1.3 million survey responses were received, representing the work experiences of more than 7.5 million employees.

CONTACT: Investor Relations: Douglas W. Busk Chief Treasury Officer (248) 353-2700 Ext. 4432 IR@creditacceptance.com