SOURCE: Portfolio Recovery Associates

Portfolio Recovery Associates

December 09, 2010 14:03 ET

Portfolio Recovery Associates Continues Tradition of Giving; Hutchinson Operations Center Donates Time and Resources

HUTCHINSON, KS--(Marketwire - December 9, 2010) - As the holidays approach, Portfolio Recovery Associates, Inc. (NASDAQ: PRAA) is pleased to announce its local operations center has given more than $60,000 throughout the year to support a number of regional charitable organizations. 

The Kansas Regional Office of Portfolio Recovery Associates (PRA) contributed significantly through donations, resources and volunteerism throughout 2010. These efforts included a $20,000 donation to United Way of Reno County, a $22,000 contribution to Relay for Life, a donation of 3,220 lbs. of collected food for the Food Bank of Reno County, and 142 pints of blood for the American Red Cross.

"PRA knows it's important to give back to the communities because we support one another," said Bill Armbruster, vice president of Operations. "By giving back to the places where we work and live, we strive to help those in need throughout the year and enrich the places that we call home."

Comprised of PRA's Norfolk, Va. headquarters, call center sites and subsidiary locations, PRA has a presence in Virginia, Pennsylvania, Nevada, California, Alabama, Kansas, Tennessee, Illinois, Texas and New Jersey. The Kansas site has been located in Hutchinson since 2000.

PRA company and employee philanthropic efforts involve non-profit organizations across the United States with a focus on groups specializing in education, the arts, civic and environmental concerns, human services and health. Within these pillars, PRA's charitable giving is extensive and represents partnerships with large and small organizations.

PRA's Kansas site additionally contributed to Big Brothers Big Sisters of Reno County, Kansas Children's Service League, the Kansas Newspaper Foundation, Interfaith Housing of Reno County, and the National Fire Safety Council of Reno County.

This holiday season, PRA's Kansas Regional Office in Hutchinson will participate for the ninth consecutive year in the Annual Adopt a Child Campaign hosted by Kansas SRS, People's Bank and Trust, and KHUT FM. As the largest contributor to the program, PRA's Hutchinson employees have bought, wrapped and delivered gifts to more than 170 children for both the 2008 and 2009 holidays. This year, 84 children have been adopted for the 20th Annual Adopt a Child Campaign by PRA's Kansas Regional Office.

Remaining philanthropic efforts for 2010 include donating turkeys and food to the Christian Soup Ministry and participating in the Multiple Sclerosis Walk of Reno County.

Since 2004, PRA and its subsidiaries, located in ten states across the U.S., have donated more than $1.2 million in philanthropic contributions to a wide range of non-profit organizations and charitable causes. In addition, PRA executives actively serve in leadership roles on a variety of boards and committees throughout the country.

For the fourth consecutive year, Portfolio Recovery Associates has been named to the Forbes "100 Best Small Companies in America" annual rankings list, as announced in the Nov. 8, 2010, edition of the business magazine. PRA is ranked 56 among the top 100 small businesses listed.

About Portfolio Recovery Associates, Inc.
Portfolio Recovery Associates, Inc. (PRA) is the parent of companies whose business revolves around the detection, collection, and processing of both unpaid and normal-course receivables originally owed to credit grantors, governments, retailers and others. PRA's primary business is the purchase, collection and management of portfolios of defaulted consumer receivables. These are the unpaid obligations of individuals to credit originators, which include banks, credit unions, consumer and auto finance companies, and retail merchants. Subsidiaries of PRA also provide fee-based services, including collateral-location services for credit originators via its IGS subsidiary, revenue administration, audit and debt discovery/recovery services for government entities through both its RDS and MuniServices businesses and class action claims recovery services and related payment processing through its CCB subsidiary.