Synchrony Financial donates $1 million to Step Up For Students Scholarship Program
By PAUL SOOST|
ALTAMONTE SPRINGS – Synchrony Financial, a premier consumer financial services company with an 80-year heritage, has announced a $1 million donation to Step Up For Students to provide scholarships for financially disadvantaged children in Orlando.
The donation marks the first time that Synchrony Financial has partnered with Step Up For Students. Synchrony Financial’s contribution will fund about 165 K-12 scholarships for financially disadvantaged Florida children so they may attend a private K-12 school, or an out-of-district public school. The scholarships provide an opportunity for recipients to find a school that fits their individual needs and lead them toward a more prosperous future
“We’re pleased that this donation will provide children with a real opportunity for educational success. Synchrony Financial is committed to addressing the needs of today’s working families, which includes providing enriching and safe places for kids to be while their parents are working,” said Margaret Keane, Synchrony Financial president and CEO. “Educational opportunities are crucial to opening doors to hope for a better future. Working with Step Up For Students is a true embodiment of our purpose statement to improve the success of every business we serve and the quality of each life we touch.”
Step Up For Students helps administer the Florida Tax Credit Scholarship Program, which provides scholarships to qualified lower-income K-12 schoolchildren throughout Florida. The program allows recipients to choose between a scholarship to help with private school tuition and fees, or a transportation scholarship to attend an out-of-district public school.
“We are truly grateful to have Synchrony Financial as a partner in our mission to ensure that lower-income children have choices in their education,” said Doug Tuthill, Step Up president. “With their help, we are providing access to Florida’s children to an educational environment that best fits their learning need, and will also positively affect our communities in the future.”
During the 2016-17 school year, Step Up For Students expects to serve more than 91,000 students throughout Florida, with tuition scholarships valued up to $5,886 per student. More than 1,600 private schools participate in the scholarship program statewide.
Synchrony Financial has had a presence in the Orlando area since 1983, and recently increased its commitment to central Florida this summer with the opening of a second site.
The original location in Longwood is primarily a customer support site. The second location, in Altamonte Springs, will provide customer service and collections support across all of Synchrony Financial’s business platforms. The 102,000 square-foot space features training and conference rooms with advanced technologies including telepresence capabilities, an on-site dining venue and employee fitness center.
Synchrony Financial employees in the Orlando area have provided nearly 300 volunteer hours so far in 2016 with a number of local nonprofit agencies.
About Synchrony Financial
Synchrony Financial (NYSE: SYF) is one of the nation’s premier consumer financial services companies. Its roots in consumer finance trace back to 1932, and today the company is the largest provider of private label credit cards in the United States based on purchase volume and receivables*. Synchrony Financial provides a range of credit products through programs we have established with a diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers to help generate growth for our partners and offer financial flexibility to our customers. Through its partners’ more than 350,000 locations across the United States and Canada, and its websites and mobile applications, the company offers its customers a variety of credit products to finance the purchase of goods and services. Synchrony Financial offers private label and co-branded Dual Card™ credit cards, promotional financing and installment lending, loyalty programs and FDIC-insured savings products through Synchrony Bank. More information can be found at www.synchronyfinancial.com, facebook.com/SynchronyFinancial, www.linkedin.com/company/synchrony-financial and twitter.com/SYFNews.
*Source: The Nilson Report (May 2016, Issue # 1087) – based on 2015 data.