Portfolio Recovery Recognized as Certified Employer of Virginia Values Veterans (V3) Program

This month, Portfolio Recovery Associates, Inc. (Nasdaq:PRAA), a financial and business services company operating in the U.S. and the U.K., was recognized by the Virginia Department of Veteran Services (DVS) as a “Virginia Values Veterans” (V3)-certified employer. Through this initiative, the Norfolk-based company is committing to hiring more veterans at its Hampton Roads locations in 2014.

“We have always had veterans working at our locations,” said Michelle Link, PRA’s senior vice president of human resources. “We hired 26 veterans in Virginia last year, and we expect this growth trend to continue through the V3 program. By joining V3, our goal is to raise awareness about the uncapped opportunities PRA can offer to veterans after they complete their military service.”

Virginia Values Veterans is a program of the Commonwealth of Virginia’s Department of Veterans Services, developed to educate and train employers throughout the Commonwealth on the value of Virginia’s veterans, and to help employers connect with these veterans to maximize the productivity of their workforce. The V3 program not only aims to educate and train companies on why it is a good business decision to recruit, hire, train, and retain veterans, but also to help those certified companies meet their hiring goals.

“The V3 program connects veterans who are seeking employment after detaching from the military with employers who have opportunities that match their skill sets,” said Andrew Schwartz, V3 program manager. “PRA is a major employer in the Hampton Roads region, and we are eager to encourage veterans to seek employment with their organization.”

Michelle Link, PRA’s senior vice president of human resources (center) accepts the V3 certification from Deputy Commissioner of Virginia Department of Veteran Services Catherine (Cathy) Wilson (second from right). Also pictured, left to right: PRA veterans Tony Vaughn, Goddard Robinson and Kirian Muran-De Assereto.

Since the execution of the initial concept, the V3 program has grown to reach hundreds of companies that have pledged more than 5,000 jobs to veterans, resulting in 3,000 hires to date.

PRA has also launched a website dedicated to veteran employment resources at http://www.pra.jobs/veterans.html. This site has links to job postings, a free financial literacy website, LifeCents, and information about its participation in Veterans Assistance for Learning, Opportunity, and Readiness (VALOR), a free financial health assessment and training program for veterans.

Portfolio Recovery Associates, Inc. (Nasdaq:PRAA) is a financial and business services company operating in the U.S. and the U.K. As a leader in the U.S. debt buying industry, PRA returns capital to banks and other creditors that helps expand financial services for consumers. PRA collaborates with its customers to create affordable, realistic debt repayment plans. The company also provides a broad range of fee-based services to local governments and law enforcement, auto lenders and insurers, businesses, institutional investors, global hedge funds, and U.K. banks and creditors. For more information, please visit www.portfoliorecovery.com.

Serving as a national model and recipient of the Innovation in Government Award by Virginia Commonwealth University’s School of Government & Public Affairs, the V3 program builds vital public-private partnerships by leveraging state and federal agencies and industry leaders to share resources and educate employers on how to tap in to the exceptional pool of talented veterans, reservists and National Guard in Virginia’s workforce. In its pilot year, V3 trained more than 500 employers who have provided over 3,000 jobs for Virginia Veterans and serves to position Virginia as the Most Veteran Friendly state in the nation. To learn more visit www.dvsV3.com.