Company Recognition - Credit Acceptance Corporation has been named one of the Best Workplaces for Millennials by Fortune, ranking 50th among the 100 large companies on the list, marking the eighth recognition for the company [8] - The company has received multiple awards this year from Great Place to Work and Fortune, including being ranked 39th in the 100 Best Companies to Work For, and has been recognized as a Top Workplaces USA Award winner for four consecutive years [5][8] Employee Satisfaction - The company's average score for Trust Index statements regarding fairness related to age, race, gender, and sexual orientation is 97%, which is two percentage points above the 2024 Top 10 average [1] - Specific employee satisfaction metrics include 89% agreement that training or development opportunities are offered for professional growth, and 89% agreement that work-life balance is encouraged, both of which are one percentage point above the 2024 Top 10 Best score [9] Financing Solutions - Credit Acceptance provides innovative financing solutions that enable automobile dealers to sell vehicles to consumers regardless of their credit history, thus facilitating vehicle ownership for a broader audience [6] - The financing programs not only help consumers purchase vehicles but also provide an opportunity to improve their credit scores, allowing them to access more traditional financing sources in the future [2][6] Survey Methodology - Great Place To Work selected the Fortune Best Workplaces for Millennials List by surveying companies employing over 8.2 million people in the U.S., with 1.3 million confidential survey responses received, including nearly 510,000 from millennials at eligible companies [7]

Group 1 - Credit Acceptance Corporation has been recognized as a Top Workplace in the Financial Services Industry, achieving a 9 ranking in the category for companies with over 500 employees [6] - The award reflects the company's commitment to creating a supportive and collaborative workplace, emphasizing the importance of listening to team members and embracing diverse perspectives [1][3] - This recognition is based on anonymous feedback from employees, collected through surveys administered by Energage, LLC, which specializes in employee research and culture technology [7] Group 2 - Credit Acceptance provides innovative financing solutions that enable automobile dealers to sell vehicles to consumers, regardless of their credit history, thereby making vehicle ownership accessible [1][8] - The company's financing programs not only help consumers purchase reliable vehicles but also assist them in improving their credit scores, allowing them to qualify for traditional financing in the future [8] - Credit Acceptance has received the Top Workplaces USA recognition for four consecutive years, marking its debut on the industry-specific list this year [6]

On average, fewer than 3% of eligible organizations earn a Top Workplace designation, making these achievements clear differentiators among peers. This award reflects our dedication to advancing our purpose, value, leadership, and compensation and benefits. This dedication comes alive through our culture of PRIDE (Positive, Respectful, Insightful, Direct, and Earnest). These values are integrated into every aspect of our workplace—from communications and performance management to our hiring process and New ...

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. As a result of a com ...

Group 1 - The company provides innovative financing solutions that enable automobile dealers to sell vehicles to consumers regardless of their credit history [1][5] - Credit Acceptance Corporation has increased the amount of its asset-backed non-recourse secured financing from $200.0 million to $300.0 million, with the revolving period extended to June 15, 2027 [2][3] - The financing programs not only facilitate vehicle purchases for consumers but also help improve their credit scores, allowing them to access more traditional financing options in the future [5] Group 2 - Credit Acceptance Corporation is publicly traded on the Nasdaq Stock Market under the symbol CACC [5]

Core Insights - Credit Acceptance Corporation provides innovative financing solutions that enable automobile dealers to sell vehicles to consumers regardless of their credit history [1][5] - The company has increased its asset-backed non-recourse secured financing from $200 million to $300 million, extending the revolving period to June 15, 2027 [3][4] Financing Solutions - The financing programs are offered through a nationwide network of automobile dealers, allowing sales to consumers who otherwise could not obtain financing [1] - These programs also generate repeat and referral sales from customers who improve their credit scores and eventually qualify for traditional financing [5] Company Overview - Credit Acceptance Corporation is publicly traded on the Nasdaq Stock Market under the symbol CACC [5] - The company reports to three national credit reporting agencies, providing consumers with an opportunity to improve their credit scores [5]

Southfield, Michigan, June 20, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (the "Company", "Credit Acceptance", "we", "our", or "us") announced today the completion of a $550.0 million asset-backed non-recourse secured financing (the "Financing"). Pursuant to this transaction, we conveyed loans having a value of approximately $687.7 million to a wholly-owned special purpose entity which will transfer the loans to a trust, which will issue three classes of notes: have an expected av ...

Southfield, Michigan, June 20, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (the "Company", "Credit Acceptance", "we", "our", or "us") announced today the completion of a $550.0 million asset-backed non-recourse secured financing (the "Financing"). Pursuant to this transaction, we conveyed loans having a value of approximately $687.7 million to a wholly-owned special purpose entity which will transfer the loans to a trust, which will issue three classes of notes: The notes have not ...

Description of Credit Acceptance Corporation As of June 17, 2024, we had $66.8 million outstanding under the facility. 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. Cre ...

As of June 17, 2024, we had $66.8 million outstanding under the facility. 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 Nasd ...