TCA Endows Up to $10 Million to University of Arizona Foundation

PHOENIX
April 3, 2003

Mike Hall, president and founder of Take Charge America, Inc.® (TCA), formerly Credit Counselors of America, Inc.® (CCOA), is pleased to announce the company has established an endowment fund at the University of Arizona Foundation for the Take Charge America Institute for Consumer Financial Education and Research. This fund will receive up to $10 million in financial support from TCA over the next 10 years. The Institute will be a part of the Southwest Retail Center for Education and Research in the School of Family and Consumer Sciences and the College of Agriculture and Life Sciences with the goal of becoming one of the nation’s leading centers in personal financial education and research.

“For the past two years, we have supported the UA Students in Free Enterprise (SIFE) team,” Hall said. “It’s been a wonderful partnership and TCA is very excited about the opportunity to expand our services at UA. The Take Charge America Institute will allow us to learn about the challenges facing consumers and help us create strategies for assisting consumers with their financial decisions. TCA is looking forward to gathering valuable information and making a difference in the lives of consumers. Along with the university’s outstanding team, we believe we can make a significant contribution to financial literacy in Arizona and the country.”

The Institute will engage in research, develop research-based consumer financial education programs, and work to disseminate those programs throughout the United States. It is expected that the Take Charge Institute will become the nation’s preeminent authority in matters of consumer financial management.

“Words cannot begin to express our gratitude,” said UA President Peter Likins. “The University is delighted with the opportunity that TCA’s generous endowment offers and we are looking forward to working together to become one of the nation’s leading centers in personal financial education and research. It’s a real honor to have such a state-of-the-art research facility on our campus.”

To date, TCA has awarded the University of Arizona Foundation $1.2 million to begin a search for the endowed chair and establish the infrastructure for the Institute. The endowment is part of Campaign Arizona, the University’s $1 billion fund-raising effort.

About TCA

Founded in 1987, Take Charge America, Inc. (TCA), formerly Credit Counselors of America, Inc.® (CCOA), is a non-profit 501(c)(3) charitable organization headquartered in Phoenix. TCA is committed to helping consumers gain control of their finances through education, counseling, and when necessary, debt management.

TCA also serves as an effective resource for the credit industry, helping creditors collect funds from distressed borrowers who may otherwise have chosen bankruptcy as a solution. TCA's diversified programs are utilized by tens of thousands of families and single men and women throughout the United States each year.

For more information about the Take Charge America Institute for Consumer Financial Education and Research, please contact Michael Sullivan at TCA (623-266-6112) or Melinda Burke at the University of Arizona (520-621-1140).