SAN DIEGO, April 23, 2024 (GLOBE NEWSWIRE) — Encore Capital Group, Inc. (NASDAQ: ECPG), an international specialty finance company, today announced that it has established a partnership with Junior Achievement USA, the nation’s largest organization dedicated to giving young people the knowledge and skills they need to own their economic success, plan for the future, and make smart academic and economic choices. This partnership expands on Encore’s current relationship with the San Diego Chapter of Junior Achievement.
Through this partnership, Encore will extend financial support to additional local Junior Achievement chapters as well as donate employee volunteer time. The company will support chapters in locations where its U.S. subsidiary, Midland Credit Management (MCM), operates, including Phoenix; Roanoke, Virginia; San Diego; St. Cloud, Minnesota; and Troy, Michigan.
The announcement, which comes as Encore commemorates Financial Literacy Month this April, is an extension of the company’s Mission to help consumers create pathways to economic freedom. The partnership also aligns with Encore’s community impact pillar of promoting financial freedom by connecting people to the skills, tools and resources they need to take control of their money and responsibly manage debt.
“I’m extremely proud of Encore’s expanded partnership with Junior Achievement USA, and thankful to their team for welcoming us to support their vision in which young people have the skillset and mindset to build thriving communities,” said Ashish Masih, President and CEO of Encore. “I’m especially pleased with the way this partnership grew from the passion of our colleagues who volunteered their energy to show up for young people in our communities. Our expanded partnership with Junior Achievement connects us even more closely with our purpose by enriching young people with vital financial educational resources to empower their future.”
Prior to this new expanded partnership, Encore first started its relationship with Junior Achievement through its San Diego chapter in 2023 through financial contributions and a donation allowing employees to use company time to volunteer with the organization. Additionally, employees had previously volunteered with Junior Achievement in some of their local chapters in organic efforts led by Encore’s employee resource groups, such as the Black Employee Network (BEN), and Encore’s Community Impact site leaders.
As part of this expanded partnership, Encore employee volunteers will support the various Junior Achievement educational programming efforts that equip elementary, middle, and high school students with foundational personal finance skills.
“We at Junior Achievement know that financial literacy education in schools can make all the difference toward young people developing habits that lead to financial health later in life,” said Jack Kosakowski, President and CEO of Junior Achievement USA. “We greatly appreciate Encore’s investment in the financial health of upcoming generations who will be better prepared to achieve their potential as a result.”
Junior Achievement’s positive impact on young people is borne out by data. Research shows that their organization’s alumni are more likely to have a college degree, feel confident managing money, have career success, and have started a business as an adult.
About Encore Capital Group, Inc.
Encore Capital Group is an international specialty finance company that provides debt recovery solutions and other related services for consumers across a broad range of financial assets. Through its businesses around the globe, Encore purchases or services portfolios of receivables from major banks, credit unions and utility providers.
Encore partners with individuals as they repay their debt obligations, helping them on the road to financial recovery and ultimately improving their economic well-being. Encore is the first and only company of its kind to operate with a Consumer Bill of Rights that provides industry-leading commitments to consumers. Headquartered in San Diego, Calif., Encore is a publicly traded NASDAQ Global Select company (ticker symbol: ECPG) and a component stock of the Russell 2000, the S&P Small Cap 600 and the Wilshire 4500. More information about the company can be found at https://www.encorecapital.com.
About Junior Achievement
Junior Achievement is the world’s largest organization dedicated to giving young people the knowledge and skills they need to own their economic success, plan for their future, and make smart academic and economic choices. JA learning experiences are delivered by corporate and community volunteers and provide relevant, hands-on experiences that give students from kindergarten through high school knowledge and skills in financial literacy, work readiness, and entrepreneurship. Additionally, Junior Achievement is expanding its reach to 18-to-25-year-olds to provide young adults with critical life skills, as well as to pre-K youth to ensure children get a solid head start. Today, JA reaches more than 4.4 million students per year in 102 markets across the United States as part of 12.5 million students served by operations in more than 100 other countries worldwide. Junior Achievement USA is a member of JA Worldwide. For more information, visit www.ja.org.
Contact
Eloisa Orozco
Director, Corporate Communications and ESG
Encore Capital Group
press@encorecapital.com
