Elevate’s Center for the New Middle Class Partners with the University of Georgia to Analyze Challenges of Household Finance
24 Mars 2022 - 5:00PM
Business Wire
Elevate Credit, Inc. (NYSE: ELVT) (“Elevate” or “Company”), a
leading tech-enabled provider of innovative and responsible online
credit solutions for consumers, today announced that its internal
thinktank, the Center for the New Middle Class (“CNMC”), will
collaborate with University of Georgia’s (“UGA”) Department of
Financial Planning, Housing and Consumer Economics to publish
research and insights on the financial wellbeing of middle class
Americans. The two-year partnership will allow the CNMC to showcase
data it has collected to better understand the unique challenges
faced by non-prime Americans—those with credit scores below 700.
Over the past four years, CNMC has collected more than 20,000
consumer surveys, tracking 50 metrics that encompass household
consumer finance.
UGA’s Department of Financial Planning, Housing and Consumer
Economics, which researches financial, housing, and consumer
questions that directly affect family economic well-being, will
co-author papers with CNMC with the goal of publishing this
research in a peer reviewed journal. In addition to the academic
research partnership, Elevate will serve as a Department sponsor to
further the academic contributions of Ph.D. students and
faculty.
“We are incredibly excited to partner with one of the leading
universities in personal finance education,” said CNMC Executive
Director, Jonathan Walker. “CNMC was founded with the mission to
engage thought-leaders around improving Americans’ financial
resilience. Our partnership with UGA will provide unprecedented
insight into the challenges non-prime Americans face and identify
ways in which this growing demographic can be better served by
financial institutions.”
Elevate’s CEO Jason Harvison added, “We are proud to support and
contribute to academic pursuits that have the potential to make a
difference in the lives of middle class Americans. Our partnership
with UGA provides us with a platform to share the substantial
knowledge we have gained since the launch of CNMC in 2017. We are
grateful to UGA for embracing this research and look forward to
working with them to improve the economic well-being of consumers
and families.”
“CNMC’s vast amount of data and experience with middle class
consumers will provide our students with real world insights from
which they can pose questions and pursue research that will make a
meaningful impact in the study of personal finance,” said Swarn
Chatterjee, Department Head for Financial Planning, Housing and
Consumer Economics at UGA. “We look forward to collaborating
closely with our partners at CNMC and Elevate to help shape the
future of consumer financial literacy and wellness.”
For more information on the mission, insights and advocacy work
of the CNMC, please visit www.newmiddleclass.org.
About Elevate
Elevate (NYSE: ELVT), together with the banks that license its
marketing and technology services, has originated $9.5 billion in
credit to more than 2.6 million consumers to date. Its responsible,
tech-enabled online credit solutions provide immediate relief to
customers today and help them build a brighter financial future.
The company is committed to rewarding borrowers’ good financial
behavior with features like interest rates that can go down over
time, free financial training and free credit monitoring. Elevate’s
suite of groundbreaking credit products includes RISE, Elastic and
Today Card. For more information, please visit
http://corporate.elevate.com.
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Investor Relations: Solebury Trout Sloan Bohlen,
817-928-1646 investors@elevate.com
Media Inquiries: Solebury Trout Laurie Steinberg,
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