October 14, 2020
PRA Group Launches Financial Literacy Partnership with West Virginia University
PRA Group, Inc. (Nasdaq: PRAA), a global leader in acquiring and collecting nonperforming loans, today announced a $210,000 donation to advance financial literacy efforts at West Virginia University (WVU). The partnership will support the work and mission of WVU’s John Chambers College of Business and Economics’ Master of Business Administration Program and its Center for Financial Literacy and Education (CFLE).
PRA Group’s contribution will fund two seminars on financial literacy in civics, business, and math led by Chambers College and WVU Extension Service to maximize impact across the state as part of WVU’s land-grant mission. The first seminar, held virtually on October 14-15, 2020, will include community leaders representing all 55 West Virginia counties. The second seminar will begin in February 2021 and focus on primary and secondary educators. Both seminars are expected to positively impact more than 3,500 West Virginia students. The Company will also support financial lunch and learns across the state for high school seniors preparing to go to college, college students, and adult learners.
Since 2009, PRA Group has contributed more than $7.8 million to charitable causes dedicated to strengthening the health and well-being of financial service consumers, while enhancing the vitality of communities across the Americas and Europe.
“We were compelled to support WVU’s efforts once we learned there was a clear need to expand access to financial education programming in West Virginia,” said Kevin Stevenson, president and chief executive officer of PRA Group. “This partnership aligns with PRA Group’s values and belief that we have a responsibility to enhance the broader conversation around financial literacy as we support consumers with making strong decisions on their path to financial healing. This is an investment in the communities of West Virginia.”
Studies have shown that exposing students as young as elementary school age to financial education can improve their future financial wellbeing. Recently, it has become a critical tool for individuals navigating the financial impact of the COVID-19 pandemic.
“When students are empowered to make sound financial decisions, they are better prepared to succeed in college and in their careers,” said Naomi Boyd, Executive Director, The Center for Financial Literacy and Education. “PRA Group’s substantial donation will allow us to broaden our programming during this critical time for our community, arm our citizens with the tools and resources to plan for their financial futures that may now have been affected by COVID-19, and reach more people who do not have equitable access to financial education.”
About PRA Group
As a global leader in acquiring and collecting nonperforming loans, PRA Group returns capital to banks and other creditors to help expand financial services for consumers in the Americas and Europe. With thousands of employees worldwide, PRA Group companies collaborate with customers to help them resolve their debt. For more information, please visit www.pragroup.com.
Vice President, Communications and Public Policy
Darby Schoenfeld, CPA
Vice President, Investor Relations