Providian Financial Corporation announced yesterday its commitment to provide a major grant of $400,000 to the San Francisco Child Care Facilities Fund. The fund is designed to expand child care capacity and improve quality. It was established by the Mayor’s Office of Children, Youth and their Families and the Department of Human Services and is administered by the Low Income Housing Fund, a non-profit lending agency.
“Providian Financial Corporation has made public child care initiatives a major focus of the company,” said Shailesh J. Mehta, Chairman and Chief Executive Officer of Providian. “As a San Francisco based financial institution and a substantial employer, we recognize the positive impact that this investment will have on our community’s working parents and their families. Providian has a very strong commitment to child care issues and we are very pleased to be working with San Francisco Mayor Willie L. Brown Jr. and the child care community in this public-private partnership dedicated to enhancing child care in the city.”
Providian Financial Corporation, headquartered at 201 Mission Street in San Francisco, is a leading provider of lending and deposit products to consumers nationwide. The company is a member of the S&P 500 Index (Consumer Finance Industry Group). With over $11 billion in assets under management and over four million customers, the company serves a broad, diversified market with loan products which include credit cards, revolving lines of credit, home loans, secured credit cards, and fee-based services. Providian Financial ranks among the 15 largest credit card issuers in the nation and is the largest issuer of secured credit cards.Details