PRESS RELEASE
Toyota Announces New Customer Service Center in Cedar Rapids Area
14 March 1997
New Toyota Motor Credit Service Center Will Boost Economy In Cedar Rapids Area
CEDAR RAPIDS, Iowa, March 13 -- Toyota Motor Credit
Corporation (TMCC) announced today that it will open a new national Customer
Service Center in the Cedar Rapids area that will create 200 new jobs and add
$7 million in salary and benefits over the next three years.
TMCC, a wholly owned subsidiary of Toyota Motor Sales, U.S.A., Inc.,
headquartered in Torrance, Calif., provides retail leasing, retail and
wholesale financing and certain other financial services to the authorized
1,450 Toyota, Lexus and Toyota Industrial Equipment dealers in the U.S. The
company, with a national network of 33 branch offices, has total assets of
nearly $20 billion and is one of the 10 largest finance companies in America.
"I am extremely pleased that Toyota has chosen the state of Iowa and the
community of Cedar Rapids to expand its operations," said Iowa Governor Terry
E. Branstad. "Toyota's continued investment and growth job opportunities
created by this expansion are exciting."
Cedar Rapids Mayor Lee Clancey added, "This is an outstanding announcement
for the Cedar Rapids area. Toyota is a great employer and outstanding
corporate citizen, and we are delighted they have decided to expand here."
The new Cedar Rapids Customer Service Center will help centralize some of
the branch office functions by responding to customer requests for account
information. It also will handle customer correspondence and account
maintenance activities during the term of a contract.
"Our main objective in the creation of this new center is to bring world-
class service to our customers," said Michael Deaderick, vice president of
operations for TMCC. "By centrally locating our operations in the Cedar
Rapids area, we feel we can more effectively communicate with our customers
and coordinate with our branch offices."
Deaderick said the new service center will open late this year or early
1998. It will be located in a 30,000-square-foot facility, which is owned and
managed by Aegon USA Realty Advisors, Inc. The facility, located at 3375
Armar Dr., will be leased on an interim basis while Toyota negotiates with
Aegon to build a permanent facility in the Cedar Rapids area.
Toyota has been an active member of the Cedar Rapids business community
since 1991, when Toyota Motor Insurance Services, a TMCC subsidiary, opened an
insurance service center.
The center, located at 3851 River Ridge Dr., N.E. in Cedar Rapids, is
managed by John Mogush and employs 150 associates who provide customer service
and claims adjusting on vehicle service agreements. They also track insurance
coverage on vehicles financed or leased through TMCC.
In addition, TMCC has 15 associates in Cedar Rapids working on a pilot
program that provides retention services to customers whose leases are
reaching maturity.
Toyota also supports community efforts in the Cedar Rapids area, including
education and environmental preservation.
The company has sponsored a program at Kirkwood Community College since
1986 to train technicians for entry-level positions at Toyota dealerships. It
provides vehicles, scholarships, special service tools, computers, uniforms
and books.
Last year, Toyota donated a Tacoma pickup truck to the Indian Creek Nature
Center to be used in a variety of environmental projects, such as planting
trees. The truck is currently being used for a program to replenish the river
otter population in the Cedar Rapids area.
Toyota has 20 Toyota, Lexus and Toyota Industrial Equipment dealers in
Iowa, including two in Cedar Rapids. The dealers have invested more than $60
million in their facilities and employ nearly 630 people. In the last 18
months alone, the dealers have spent close to $12 million on building new
facilities and improving existing operation.
People interested in employment at the new TMCC Customer Service Center
should write to the Human Resources Department, Toyota Motor Credit
Corporation, 3851 River Ridge Dr., N.E., Cedar Rapids, Iowa 52402.
SOURCE Toyota Motor Sales, U.S.A., Inc.
CONTACT: Joe Tetherow, 310-618-4727, or 313-410-6287 on 3/13, or John McCandless,
313-259-2004, or 313-410-6287 on 3/13, or Nancy Hubbell, 310-618-5297, all
of Toyota