Avangrid Receives Eddy Award for Student Loan Debt Repayment Program
March 19 2024 - 9:58AM
Business Wire
Program saved Avangrid employees more than $1.5
million in 2023
Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company
and a member of the Iberdrola Group, announced today that it earned
an Eddy Award from Pension & Investments for the company’s
groundbreaking Student Loan Debt Repayment Program, which saved
Avangrid employees more than $1.5 million last year in principal
and estimated interest.
“Student loan debt surpasses all other categories of consumer
debt, besides mortgages, in the United States,” said Pedro Azagra,
Avangrid CEO. “This fact is not only staggering, its sobering. We
are very proud to have diverse and modern benefits that support our
employees’ mental, physical, emotional, and financial wellbeing. To
receive an Eddy Award for our Student Loan Debt Repayment Program
confirms our belief that our benefits are setting a new standard
for employee programs and care.”
Pension & Investment’s annual Eddy Awards recognizes best
practices in offering investment and financial education to defined
contribution plan participants. This year’s awards included five
categories: special projects, financial wellness, ongoing
investment education, conversions/403(b) consolidations and
pre-retirement preparation. Avangrid earned second place in the
Financial Wellness category, and this is Avangrid’s third Eddy
award in four years.
Avangrid was one of the first energy companies in the United
States to have a student loan debt repayment program. The program
is available to non-union employees and offers participants a $250
monthly payment, up to a lifetime maximum of $9,000, paid directly
to their eligible student loan provider(s). To date, more than 600
Avangrid employees have enrolled.
“A program like this tells me that Avangrid cares about its
employees by helping them focus on total wellbeing, including
financial wellness,” said Jordan Noll-Lamantia, manager of Talent
Acquisition at Avangrid and a participant in Avangrid’s Student
Loan Debt Repayment Program. “Taking advantage of this benefit is
allowing me to pay down my student loans quicker than I originally
planned. This means more freedom to do the things I love, such as
traveling.”
About Avangrid: Avangrid, Inc. (NYSE: AGR) aspires to be
the leading sustainable energy company in the United States.
Headquartered in Orange, CT with approximately $44 billion in
assets and operations in 24 U.S. states, Avangrid has two primary
lines of business: networks and renewables. Through its networks
business, Avangrid owns and operates eight electric and natural gas
utilities, serving more than 3.3 million customers in New York and
New England. Through its renewables business, Avangrid owns and
operates a portfolio of renewable energy generation facilities
across the United States. Avangrid employs approximately 8,000
people and has been recognized by JUST Capital in 2021, 2022, 2023
and 2024 as one of the JUST 100 companies – a ranking of America’s
best corporate citizens. In 2024, Avangrid ranked first among
utilities and 12 overall. The company supports the U.N.’s
Sustainable Development Goals and was named among the World’s Most
Ethical Companies in 2024 for the sixth consecutive year by the
Ethisphere Institute. Avangrid is a member of the group of
companies controlled by Iberdrola, S.A. For more information, visit
www.avangrid.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240319523298/en/
Media: Sarah Warren sarah.warren@avangrid.com
585-794-9253
Avangrid (NYSE:AGR)
Historical Stock Chart
From Mar 2024 to Apr 2024
Avangrid (NYSE:AGR)
Historical Stock Chart
From Apr 2023 to Apr 2024