Our co-founder and CEO Mike Cagney sent the following message to SoFi employees this evening:

Tom Hutton Named Executive Chairman; Steven Freiberg Named Vice Chairman

September 11, 2017 – San Francisco, Calif. – SoFi today announced that co-founder and CEO Mike Cagney plans to step down as the company’s chief executive before year end. The company has begun a search for Cagney’s successor as CEO, and Cagney will remain in the role until the board names a successor.

“I believe now is the right time for SoFi to start the search for a new leader,” Cagney said. “I could not be more proud of the company we’ve built together, and I look forward to passing the baton to a new CEO who can continue SoFi’s mission of revolutionizing personal finance, helping our members to get ahead and find financial success.”

SoFi also announced that the company’s Board of Directors has elected Tom Hutton as SoFi’s executive chairman, effective immediately. Cagney has stepped down as chairman.

Hutton was appointed to the SoFi board June 2012. An initial investor in the company, he serves as managing director of XL Innovate, a venture capital firm focused on insurance and financial technology. He was formerly CEO of White Mountain Re Group and Risk Management Solutions Inc. He has served as a director of several private and public financial companies.

“With Mike at the helm, SoFi has become a major, innovative player in consumer finance. We are grateful for all he’s done to help build this remarkable company,” Hutton said. “We’re confident that we can find and hire a great CEO to continue that innovation and drive excellent financial performance.”

Steven Freiberg, acting CFO and a member of the SoFi board, will take on an expanded role as vice chairman. Freiberg, a 30-year financial services sector veteran, previously served as CEO of of E*Trade and co-chairman and CEO of Citigroup’s Global Consumer Group. He sits on a number of corporate boards, including MasterCard and Regional Management Corp..

In the second quarter, SoFi funded $3.1 billion in loans, generating over $134 million in revenue (67 percent growth year over year) and $61.6 million in adjusted EBITDA (60 percent growth year over year). To date, SoFi has lent over $20 billion to the company’s more than 350,000 members, helping them finance their educations, buy houses, and invest for the future.

About SoFi
SoFi is a new kind of finance company taking a radical approach to lending, wealth management and insurance. From unprecedented products and tools to faster service and open conversations, we’re all about helping our members get ahead and find success. Whether they’re looking to buy a home, save money on student loans, ascend in their careers, or invest in the future, the SoFi community works to empower our members to accomplish the goals they set and achieve financial greatness as a result. For more information, visit SoFi.com.

Contact
SoFi PR
[email protected]

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This fall, SoFi will host one-day workshops outside Chicago, San Francisco, and New York City for career-driven millennials

SAN FRANCISCO, Calif. – September 7, 2017 – SoFi today announced its first-ever ‘SoFi Accelerate’ event series for ambitious millennials looking to break away, look beyond, and get ahead in their careers. SoFi Accelerate is a series of one-day retreats taking place just outside Chicago, New York City, and San Francisco that will give event attendees the time and space to think big—as well as the tools and structures to make their career goals happen.

Launching in September, the retreats will consist of creative visioning and leadership exercises, career strategy sessions with SoFi career advisors, and inspirational talks from unconventional thinkers like criminal justice reform advocate Adam Foss, Stanford professor and co-founder of Electronic Arts Dave Evans, and Gretchen Rubin, author of New York Times bestseller The Happiness Project, among others on how to set and achieve professional goals.

“SoFi cares about more than money. We care just as much about our members’ careers and relationships,” says Joanne Bradford, SoFi’s Chief Marketing Officer. “We hear every day from members who are either looking to energize their existing career path, or chart an entirely new course. With SoFi Accelerate, we’ve created an environment for young professionals to explore how to do both.”

The event also includes transportation to and from the retreat venues, complimentary breakfast and lunch, and a concluding cocktail reception. Both members and non-members can learn more about the program here and sign up via links to each city: www.sofi.com/blog/introducing-accelerate-sofis-first-ever-career-retreat/

The SoFi Accelerate experience will include:

UNCONVENTIONAL VENUES
SoFi Accelerate will offer its programming in unconventional retreat settings to encourage expansive views and open minds. These venues include the Chicago Botanic Garden (Glencoe, IL), Grounds for Sculpture (Hamilton Township, NJ), and Montalvo Arts Center (Saratoga, CA).

UNEXPECTED SPEAKERS
A panel of experts from unexpected (i.e. outside of the financial planning realm) and highly relevant disciplines discuss how to create and execute on life, career, and financial goals. These speakers will include:

Chicago – September 24, 2017
● Ryan Holiday: Writer, media strategist, entrepreneur, and editor-at-large for the New York Observer
● Adam Foss: Criminal justice reform advocate; co-founder of Roxbury CHOICE Program, a collaborative effort between defendants, the court, the probation department, and the D.A. to recast probation as a transformative experience rather than a punitive process

San Francisco – October 1, 2017
● Dave Evans: Former tech executive at Apple and Electronic Arts, Stanford d. School professor, and co-author of the New York Times Bestseller Designing Your Life
● Irene Au: Operating partner at venture capital firm Khosla Ventures, former head of User Experience at Google

New York City – October 15, 2017
● Gretchen Rubin: New York Times bestselling author of The Happiness Project and Happier at Home, and most recently, Better Than Before
● Coss Marte: Ex-drug dealer, ex-convict, and founder of ConBody, a “prison-style” fitness boot camp with a loyal following of 10,000+ clients that employs formerly incarcerated individuals, giving ex-convicts stability and breaking down barriers between them and the general population

ENHANCED INTERCONNECTIVITY
In a move to ensure maximum connectivity and networking, SoFi will provide a digital network to attendees before, during, and after each event.

ONSITE VISUAL INSPIRATION
Over the course of the day, a local artist will incorporate points of inspiration (speaker quotes, participant’s vision statements, quotes via event hashtags and onsite polling) into a large scale mural in real time.

TRANSFORMATIONAL TAKEAWAYS
Participants will walk away with a clear vision statement, attainable roadmap, actionable 30-day plan, new supportive connections, a platform for resources and continued engagement, and ongoing access to SoFi’s network of career advisors.

About SoFi Career Advisory Group
SoFi’s Career Advisory Group is committed to supporting SoFi members both financially and professionally. Our members have invested a ton in building their careers, and our career coaches are here to help them get the most value from it. As a SoFi member, you can work one-on-one with an experienced career coach to map out your next move, create a plan, and identify what success and fulfillment mean for you. For more information, visit SoFi.com/Career-Advisory.

About SoFi
SoFi is a new kind of finance company taking a radical approach to lending, wealth management and insurance. From unprecedented products and tools to faster service and open conversations, we’re all about helping our members get ahead and find success. Whether they’re looking to buy a home, save money on student loans, ascend in their careers, or invest in the future, the SoFi community works to empower our members to accomplish the goals they set and achieve financial greatness as a result. For more information, visit SoFi.com.

Contact
Danika Owsley
Director of Consumer Communications
[email protected]

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Natural Disaster Support

As natural disasters or national emergencies impact the United States, we wish for the safety of everyone in the affected areas.

We’re committed to meeting the needs of our members in times of disaster. SoFi offers forbearance to members affected by a natural disaster or national emergency as identified by FEMA. You can find updated information here.

If you have been impacted by the recent disasters or national emergency and are experiencing hardship, you may be eligible for assistance. Please call the appropriate number below to learn more:

HOME LOANS: SoFi Mortgage Servicing at 855-622-3198

STUDENT LOAN: MOHELA at 877-292-7470

PERSONAL LOAN: SoFi Servicing at 844-975-7634

CREDIT CARD: SoFi Servicing at 844-991-7634