Credit Acceptance

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Why Credit Acceptance IS A MOST LOVED WORKPLACE®

Systemic Collaboration

EMPLOYEES COLLABORATE THROUGHOUT OUR COMPANY BY …

participating in activities combining teamwork with meaningful initiatives. With the shift to remote work due to the pandemic, we’ve created ways to stay connected. New Regional Roundtables in five hub cities across the country feature a “company business” segment delivered by a senior leader, designed to ensure alignment with our purpose and strategy, and a camaraderie-building segment. Another example is our Build-A-Bike event at this year’s Sales Leadership Exchange offsite. The team solved puzzles, which earned them the tools and parts needed to assemble bicycles. Working in groups, they built 18 bikes for the Orlando Boys and Girls Club.

Positive Vision of the Future

EMPLOYEES AT OUR COMPANY HAVE A POSITIVE VISION FOR THE FUTURE BECAUSE …

they believe they can contribute to our “North Star” of creating intrinsic value and Changing Lives for five constituents—dealers (our direct customers), team members, consumers, communities, and our shareholders. Our path to success starts with clearly defined stretch goals. To accomplish them, we focus on three keys to success: a great product, a great environment, and great people. We firmly believe our culture is a key part of our success. We consistently strive to create a workplace that team members look forward to coming to because they know they can make a difference.

Company Respect

WE SHOW RESPECT AND ENSURE THAT ALL VOICES ARE HEARD AND IDEAS ARE VALUED THROUGHOUT THE COMPANY BY …

leaning into our PRIDE values – Positive, Respectful, Insightful, Direct and Earnest – throughout the team member journey, including hiring, training and development, performance management and recognition. We leverage our “listening culture” by collecting feedback via quarterly surveys, “Ask the Senior Leadership Team Q&A” and “Red Tape Remover,” which allows team members to send questions and concerns directly to our CEO. And our Diversity & Inclusion Committee recently launched Team Member Resource Groups supporting Black/African American team members, women, allies of the LGBTQIA+ community and veterans. These TMRGs share knowledge and raise awareness, ensuring diverse perspectives are valued and respected​.

Company Support / Killer Outcomes

WE SUPPORT OUR EMPLOYEES IN ACHIEVING THEIR PROFESSIONAL AND PERSONAL GOALS BY …

providing unique and engaging opportunities for personal development and fulfillment. One example is the “Unburied Life” campaign, created in direct response to team members telling us remote work has introduced new stressors and feelings of disconnect. The campaign’s message was simple: don’t let everyday stressors cause you to lose sight of your dreams. We encouraged connection and collaboration through dedicated platforms where team members could publish their dreams and receive support and encouragement from others. This initiative fostered a sense of community in which team members helped one another realize their personal goals.

Alignment of Values

OUR COMPANY’S VALUES ARE ALIGNED WITH OUR EMPLOYEES BECAUSE …

they were created by our team members in 2012. We asked all team members to tell us the qualities they most admired in their coworkers and distilled their answers into our current PRIDE values – Positive, Respectful, Insightful, Direct and Earnest. Today, PRIDE is deeply integrated into our daily operations, organizational culture and an integral part of our company’s identity. This is evident in our commitment, and the support received from team members, to foster a collaborative environment where difficult conversations are encouraged, and a listening culture is nurtured.

Company Practices / Love

PROGRAMS AND PRACTICES WE GIVE TO OUR EMPLOYEES THAT CREATE A LOVED WORKPLACE ARE …

designed to encourage connection. The “Let’s Talk Podcast” and “Let’s Talk Listening Sessions,” launched by the Diversity and Inclusion Committee, provide a platform for team members to discuss cultural topics including ableism, code-switching and mental health. In another example, we offer quarterly Regional Roundtables in five hub cities around the country (plus a virtual option) to support face-to-face team building. Last, our Team Member Changing Lives Team, a cross-functional group of team members across all levels of the organization, meets monthly to focus on positively changing the lives of our team members by continually evaluating and evolving our culture.

CEO Strengths

OUR CEO SERVES AS A MODEL OF OUR COMPANY VALUES BY …

embodying and promoting our core purpose of Changing Lives. He does so through interactions with key stakeholders, including dealers, consumers, team members, and shareholders. Our CEO fosters an environment where trust is built through open and honest two-way conversations, a direct reflection of our PRIDE values. This approach of transparent communication and cultivating a listening culture demonstrates a commitment to inclusion, fairness, and equality, aligning with the company’s overarching mission and values​.

Benefits

EXAMPLES OF UNIQUE BENEFITS, BONUS, OR COMPENSATION WE PROVIDE ARE …

centered around taking a proactive approach to assist our team members and their families. For example, beginning in March 2020, we transitioned to a remote-first working model. Today, 95% of our team members work from home daily. With this unique benefit, we are defining the future of work, improving job satisfaction, and giving team members the flexibility to be their best at work and home. In another example, we adjusted our incentive plans for inflation, and in 2022, in addition to our regular annual merit increases, we provided inflation adjustments of up to 2.5% to our team members.

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About the Company

Since 1972, Credit Acceptance has offered financing programs that enable automobile dealers to sell vehicles to consumers, regardless of their credit history. Without our financing programs, consumers are often unable to purchase vehicles, or they purchase unreliable ones. As we report to the three national credit reporting agencies, an important secondary benefit of our programs is that we provide consumers an opportunity to improve their lives by strengthening their credit scores and moving on to more traditional sources of financing.

Company Headquarters

Headquarters location:

25505 W 12 Mile Rd, Southfield, MI

Company Headquarters

Industry:

Financial Services

Company Headquarters

Company CEO's name:

Ken Booth

Company Headquarters

Number of employees:

1001 - 10000

Life in our company

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