Sallie Mae Issues Inaugural Corporate Social Responsibility Report

Report Highlights Company’s Commitment to Customers, Employees, Communities, Corporate Governance, and the Environment

Thursday, April 16, 2020 2:30 pm EDT

Dateline:

NEWARK, Del.

Public Company Information:

NASDAQ:
SLM
"Coming together to support our neighbors in need as well as our customers is essential right now"

NEWARK, Del.--(BUSINESS WIRE)--Sallie Mae® today announced it issued its inaugural Corporate Social Responsibility report “Serving Students and Families.” The report covers various corporate initiatives as well as philanthropic efforts through The Sallie Mae Fund, the charitable arm of Sallie Mae, and highlights the company’s commitment to serving its customers, investing in the workforce, building stronger, more resilient communities, protecting the environment, and maintaining strong corporate governance and ethics.

The report’s release comes on the heels of the company’s efforts to support its customers, employees, and communities in the midst of the COVID-19 pandemic. The company has taken steps to protect the health and safety of its team members and support remote working capabilities, posted customer assistance information on www.sallieme.com/coronavirus, proactively reached out to customers to alert them to assistance available for those experiencing financial hardship, and expanded service features and functionality to make that assistance even faster and easier to access. In addition, The Sallie Mae Fund, the philanthropic arm of Sallie Mae, contributed $1 million to food banks in Delaware, Indiana, Massachusetts, Utah, and Virginia – states where Sallie Mae employees live, work and serve.

“Coming together to support our neighbors in need as well as our customers is essential right now,” said Raymond Quinlan, Chairman and Chief Executive Officer, Sallie Mae. “It’s also a foundation of good corporate citizenship and social responsibility. This support, as well as the initiatives outlined in our corporate social responsibility report, represent who we are as a company and illustrates the efforts of our nearly 2,000 employees, who strive every day to better the lives of our customers and our communities.”

Sallie Mae’s commitment to corporate social responsibility is built on five key pillars: customers, employees, communities, the environment, and corporate governance and ethics. Initiatives included in this year’s report build strong foundations of leadership, accountability, and sustainability in where employees live, work, and serve.

Highlights include:

  • Commitment to Customers. Fair and responsible lending practices coupled with investments in simple, intuitive, personalized, and mobile first experiences have created exemplary experiences for customers. That customer centric focus has led to a certification from J.D. Power for “An Outstanding Customer Service Experience” for phone support, and an A+ rating and Torch Award for Marketplace Ethics from the Better Business Bureau.
  • Building Strong Foundations in the Community. In 2019, Sallie Mae and The Sallie Mae Fund made more than $1M of charitable contributions to organizations like Year Up, Big Brothers Big Sisters, and Folds of Honor. In addition, the company provided nearly $800,000 in undergraduate and graduate scholarships through its Bridging the Dream Scholarship Program.
  • Making a Difference for its Workforce. The company continues to invest in its people through an inclusive environment where employees feel inspired to make a difference. Benefits like 12 weeks fully paid parental leave, and adoption reimbursement of $10,000, led to recognition from Forbes as one of "America’s Best Midsize Employers" and one of the "100 Best Adoption-Friendly Workplaces" by the Dave Thomas Foundation for Adoption.
  • Protecting the Environment. The company consistently reduces energy use and associated greenhouse gas emissions, procures more sustainable materials, and minimizes the amount of waste generated in offices.
  • Setting the Bar for Corporate Governance. Sallie Mae sets high standards and expectations for the ethical conduct of its leadership, employees, and business partners. The company also values and champions diversity in its workforce and Board of Directors. It has been recognized for the last five years by 2020 Women on Boards for board diversity.

To learn more about Sallie Mae’s commitment to corporate social responsibility or to access the full report, visit www.salliemae.com/csr.

Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.

Multimedia Files:

Contact:

Ashley Boucher
302.451.0452
Ashley.Boucher@SallieMae.com

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