Veterans Advantage Adopts Public Benefit Corporation Status as It Celebrates Its 15th Birthday

Elected Status Reflects Company's Continuing Mission of Advocacy for U.S. Military Veterans and Their Families with the VetRewards Card

Feb 15, 2016, 09:00 ET from Veterans Advantage

WASHINGTON, Feb. 15, 2016 /PRNewswire/ -- In celebration of its 15th birthday this President's Day, Veterans Advantage today announced it has elected to continue its social mission of supporting veterans, service members and military families as a public benefit corporation (PBC), a type of corporate entity known as a B corporation.

Veterans Advantage has always worked to "to give back to those who serve" by creating new benefits, and delivering valuable travel, medical, and financial services, and insurance coverage redeemed with the VetRewards Card, a secure national military ID.

Now, Veterans Advantage joins a new business movement inspired by other "forward-thinking," mission-led American brands, including Patagonia, Etsy, Ben & Jerry's, Seventh Generation and Warby Parker, that have been formally recognized as "doing well by doing good," through the adoption of the B corporation mission-driven business model for its corporate status. 

"Fifteen years ago this President's Day, when we first launched our VetRewards Card military ID, our sole benefits partner was Amtrak, and our first member enrolled at two-thirty in the morning from a nuclear submarine," said H. Scott Higgins, a Vietnam War veteran and founder and CEO of Veterans Advantage. "We believe this member was motivated not simply by train discounts, but to join our mission of greater respect, recognition, and rewards for those who serve and their families. Since that time we have added over 100 coalition partners and over one million members who have contributed to our growth and support of our advocacy," he added.

With an amendment to its articles of incorporation, Veterans Advantage will be legally recognized as producing a public benefit or public benefits through its social mission and advocacy for the creation of new benefits and services for active duty, retired military, veterans, guardsmen, reservists and their families. While Veterans Advantage's high standards for its member program and goal of positive social impact in America will not change, underscored by its long-standing A+ rating from the Better Business Bureau, its new public benefit corporation status is the best way to help ensure that its values and social mission are fully recognized and sustain the growth of its new benefits for the military community.

"Through our mission-driven business model we've managed to build mutually beneficial partnerships with Fortune 500 retailers and travel industry leaders who offer valuable discounts and benefits to our members as a thank you for their military service," said Lin Higgins, COO and co-founder of Veterans Advantage. "This has allowed us to sustain our benefit program through this, our fifteenth birthday, and our new status as a public benefit corporation will highlight our original mission and help our efforts to inspire ongoing contributions from partner companies."

With its national advocacy for expansion of military discounts beyond active duty and retired military, to include veterans and their families, Veterans Advantage has grown considerably each year and, in 2015, added five new benefit partners, including Universal Orlando Resort, Liberty Mutual Insurance, Verizon Fios, Office Depot and OfficeMax and Zipcar.

In 2016, its mission continues into its 16th year as Veterans Advantage develops new benefit partnerships, expands its advocacy work to include veteran hiring and privacy protection and performing outreach through sponsorship of free community events like "Heroes Meet Heroes" during Veterans Week NYC, which Veterans Advantage co-founded in New York City in 2012.

About Veterans Advantage, PBC:
Veterans Advantage advocates for greater respect, recognition and rewards for veterans, military personnel, and their families by creating and issuing new service-related benefits with its coalition of partner companies. Veteran-founded and led, Veterans Advantage partners with national retailers, travel industry leaders, and insurance providers to deliver exclusive benefits, and provides complimentary insurance coverage and special services for its enrolled members. Veterans Advantage's military verify technology allows its partners to confirm military customers as eligible for their military offers in real-time with a VetRewards Card military ID. Members may quickly redeem Veterans Advantage discounts at partner sites online, by toll-free phone and at retail point-of-sale locations nationwide. More at VeteransAdvantage.com.

Media Contact:
Roy Asfar
Veterans Advantage
rasfar@veteransadvantage.com
1-203-422-2526
veteransadvantage.com

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SOURCE Veterans Advantage



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