DALLAS, Jan. 13, 2017 /PRNewswire/ -- In honor of
the life and vision of Dr. Martin Luther
King, Jr., Toyota Financial Services (TFS) is continuing its
support of Historically Black Colleges and Universities (HBCUs) and
their communities, by providing $60,000 to five HBCUs as well as the Tom Joyner
Foundation.
"For the third year, we're so glad to partner with Toyota
Financial Services in supporting the vision of HBCUs," said
Thomas Joyner, Jr., President and
CEO of the Foundation. "These scholarships are an
important investment in these schools, and are critical in helping
students pursue their dreams."
The following universities will each receive $10,000:
- Paul Quinn College in Dallas,
Texas
- Benedict College in Columbia,
S.C.
- Mississippi Valley State University in Itta Bena, Miss.
- Winston-Salem State University in Winston Salem, N.C.
- Jarvis Christian College in Hawkins,
Texas
TFS is donating an additional $10,000 to support the Tom Joyner
Foundation, as well. The foundation provides academic
support, scholarships, and programming to over 80 HBCUs in the
Southern and Eastern United States. The overall goal of these
contributions is to support educational opportunities within many
of the communities in which TFS operates.
"Education should be accessible to all – but many talented young
minds are unable to complete their college education and realize
their full potential because of the lack of financial aid," said
Mike Groff, TFS president and
CEO. "In keeping with TFS' deeply held commitment to
diversity and inclusion, we are honored to support the mission of
HBCUs and help these students reach their academic and professional
aspirations."
The college graduation rate for African-American
students in the U.S. stands at 42%, as opposed to 62% for
their white counterparts. (1) Financial support of
universities is key in black student retention,
thereby producing high graduation rates.
"Dr. King's dream included the belief that young people should
be given an opportunity to receive the best education possible,"
said John Ridgeway, TFS Corporate
Manager of TFS' Customer Service Center in Maryland. "As
a Toyota executive and an HBCU alumnus, I am proud to see Toyota
Financial Services supporting these fine institutions and
advocating higher education within our communities."
"Financial support has become an area of critical need for a
growing number of HBCUs," added Al
Smith, TFS Group Vice President, Service Operations and
Corporate Planning. "Providing this support not only keeps students
on track, but contributes to the sustainment of these HBCUs and
helps them address the issues that impact student retention."
TFS has been named a DiversityInc Top 50 company for the past
nine years in a row, and has been consistently recognized by
Black Enterprise, Hispanic Business, and the Human
Rights Campaign as a Best Company for Diversity and one of
the Best Places to Work. TFS has provided millions of
dollars in scholarships to deserving students across the nation,
its executives actively support and sponsor the company's many
diversity and inclusion initiatives, and its associates have
devoted their time and talents to many meaningful national- and
community-based programs.
For more information, contact Neil
Foote, media relations, Tom Joyner
Foundation(neil.foote@tomjoynerfoundation.org, 214.448.3765) or
Justin Leach, public relations
manager, Toyota Financial Services (justin_leach@toyota.com,
310.468.5332).
1 According to the Journal of
Blacks in Higher Education
About The Tom Joyner Foundation
The Tom Joyner
Foundation (http://tomjoynerfoundation.org) was founded in 1998 as
the brainchild of nationally syndicated radio personality
Tom Joyner. The mission of the
Foundation is to support historically black colleges and
universities (HBCUs) with scholarships, endowments and
capacity-building enhancements. The Foundation has provided
necessary support to every HBCU in its 18-year history to help
sustain and preserve the legacies of these valuable institutions.
Through fundraising and donor development initiatives, $65 million has been raised to support more than
29,000 students attending HBCUs. Additionally, the Foundation has
recommended internships, offered matching grant support, and career
development to deserving students.
About Toyota Financial Services
Toyota Financial
Services (TFS) is the finance and insurance brand for Toyota in
the United States, offering retail
auto financing and leasing through Toyota Motor Credit Corporation
(TMCC) and Toyota Lease Trust. TFS also offers extended service
contracts through Toyota Motor Insurance Services (TMIS). The
company services Lexus dealers and customers using the Lexus
Financial Services brand. TFS currently employs approximately 3,100
associates nationwide, and has assets totaling nearly $116 billion. It is part of a worldwide network
of comprehensive financial services offered by Toyota Financial
Services Corporation, a wholly-owned subsidiary of Toyota Motor
Corporation. We announce material financial information using the
investor relations section of our website (www.toyotafinancial.com)
and SEC filings. We use these channels, press releases, and social
media to communicate about our company, our services and other
issues. While not all information we post on social media is of a
material nature, some information could be material. Therefore, we
encourage those interested in our company to review our posts on
Twitter at www.twitter.com/toyotafinancial.
Points of Light has named TFS one of its Civic 50, which
recognizes the most community-minded companies in the nation.
For more information about the company's support of financial
literacy, youth development programs, and other community
initiatives, please visit www.tfsinthecommunity.com.
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SOURCE Toyota Financial Services