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Tricolor Appoints Beth Brooke To Board of Directors

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Former EY Global Vice Chair of Public Policy and global change agent Brooke joins newly expanded board of AI-powered responsible auto retailer and lender as it scales its mission nationally

DALLAS, Jan. 06, 2021 (GLOBE NEWSWIRE) -- Tricolor, a tech-enabled Community Development Financial Institution (CDFI) and the nation's largest used vehicle retailer and lender for the Hispanic consumer, today announced the appointment of Beth Brooke to its Board of Directors. In this capacity, Brooke will also chair Tricolor's Audit Committee.

Named to Forbes list of the "100 Most Powerful Women in the World" eleven times, Brooke is a globally recognized financial policy expert, advocate for purpose-driven corporations, and a leading voice for social justice and equality, in particular for women and LGBT communities around the world. She joins recently appointed Tricolor Board Members Kathryn Petralia, co-founder of Kabbage, and former US Ambassador Antonio Garza in helping guide the company as it pursues its purpose to grow and expand financial inclusion for credit invisible Hispanics across the country.

"We are honored to welcome Beth to our Board of Directors," said Tricolor Founder and CEO Daniel Chu. "Her impact in the world both personally and professionally has been profound. As we continue to grow our model for inclusion, her strategic insight and guidance will be invaluable towards expanding our thriving enterprise and lifting up the communities it serves."

Brooke serves on the Boards of eHealth (NASDAQ:EHTH), Beta Bionics, and SHEEX. During a distinguished career at EY spanning forty years, Brooke was a member of EY's Global Board and served as the Global Vice Chair of Public Policy and Global Sponsor of Diversity and Inclusion. In the Clinton Administration, she served in the office of Tax Policy in the U.S. Department of the Treasury and was responsible for all insurance and managed care tax policy and played roles in healthcare reform and superfund reform legislative efforts.

"I'm honored to have the opportunity to work with the terrific team at Tricolor to accelerate and expand financial inclusion for the credit invisible in our country, to help give them an expanded opportunity to pursue their dreams," said Brooke.

Brooke's commitment to leading a purposeful life is evident in the awards she has received and the organizations that she serves. She was named Woman of the Year by Concern Worldwide, has served on multiple U.S. Delegations to the United Nations Commission on the Status of Women, received the Theodore Roosevelt Award, the top individual honor bestowed by the U.S. National Collegiate Athletic Association, and is in the Indiana Basketball Hall of Fame. She serves on the nonprofit boards of the United States Olympic and Paralympic Committee, the Aspen Institute, the Conference Board, Out Leadership, The Partnership for LGBTI Equality, Vital Voices, and Indiana University's O'Neill School of Public Policy. She is a graduate, with highest distinction, of Purdue University, where she played intercollegiate basketball.

Tricolor is a pioneer in the application of AI and other advanced technologies to drive its integrated used vehicle sales and lending platform. The company leverages advanced data analytics and AI to deliver high quality used vehicles at affordable loan rates for lower income, credit invisible Hispanics.

According to the Consumer Financial Protection Bureau (CFPB), 26 million people in the United States are "credit invisible" and an additional 19 million are "unscoreable," corresponding to a total of 45 million people in the United States whose lack of a credit score translates into limited options in terms of accessing financing for a major purchase such as a motor vehicle.

Tricolor empowers its customers by providing access to affordable financing for high quality, certified used vehicles, enhancing the quality of their lives and helping them build a better future. Since its founding in 2007, the company has served over 70,000 customers and disbursed over $1billion in affordable auto loans by using its proprietary AI-powered model to segment risk.

This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

For more information about Tricolor and Ganas, please visit tricolor.com and ganas.com.

About Tricolor

Tricolor is a Community Development Financial Institution (CDFI) and mission-driven company that sells and finances high quality, certified used motor vehicles through its premium brands, Tricolor Auto Group in Texas and Ganas Auto Group in California, utilizing advanced data analytics and technology to advance financial inclusion to a highly underserved market and offer responsible, affordable, credit-building auto loans to individuals with no or limited credit history.

Headquartered in Dallas, Texas, Tricolor and its affiliate Ganas Auto Group operate over 40 retail dealerships across 14 markets in Texas, California, and Nevada with a shared services center in Guadalajara, Mexico. On a combined basis, Tricolor and Ganas have served over 70,000 customers and disbursed over $1 billion in affordable auto loans by using their proprietary model to segment risk.

CONTACT INFORMATION
Stephanie Hicks
Cosmo PR for Tricolor
(805) 295-9455
stephanie@cosmo-pr.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/46f41dc4-2827-4512-b81d-cda5072b9ce6 


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