SOURCE: Portfolio Recovery Associates

Portfolio Recovery Associates

December 09, 2010 13:56 ET

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

JACKSON, TN--(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 $31,000 throughout the year to support a number of regional charitable organizations. 

The Tennessee Regional Office of Portfolio Recovery Associates (PRA) donated more than $31,000 to local organizations throughout 2010, including a $20,000 donation to United Way of West Tennessee and a $3,000 contribution to the Jackson Symphony Orchestra. Additionally, employees volunteered 250 hours at the St. Jude's Radiothon and provided 226 pints of blood for the Lifeline Blood Services.

PRA's Jackson Office raised the most money locally with more than a $2,000 donation to the "Stuck in the Mud" fundraising campaign for West Tennessee flood victims. In June, more than $1,500 was raised during the First Annual St. Jude Children's Research Hospital Softball Tournament.

"PRA's commitment to charities and organizations is reflected throughout all of its locations," said Justin Miller, vice president of Operations. "In Tennessee, we believe in helping those in need, contributing to causes searching for a cure, and ensuring our communities are well taken care of for today's residents and future generations."

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 Tennessee site has been located in Jackson since 2006.

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.

This holiday season, PRA's Tennessee Regional Office employees will adopt three families through United Way to supply much-needed items, including clothing, learning toys and school supplies.

PRA's Tennessee Regional Office additionally contributed to Madison County Court Appointed Special Advocate Association (CASA), St. Jude Children's Research Hospital, Jackson-Madison County Relay for Life, Jackson-Madison County Humane Society, Jackson-Madison County Boys and Girls Club, and donated 40 turkeys to the Carl Perkins Center in Jackson.

Remaining philanthropic efforts for 2010 include a separate food donation to the Carl Perkins Center in Jackson and participating in Jackson-Madison County Habitat for Humanity endeavors.

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.