Verizon on Wednesday announced a partnership with the Colts and Team Penske to invest $6 million over the next two years to provide debt relief to Hoosier veterans.
The initiative includes $2 million in partnership with the Colts, as well as another $2 million in collaboration with Team Penske, The Indianapolis Motor Speedway and the Indy 500 and an additional $2 million if Will Power's No. 12 Team Penske Verizon car finishes in the top 10 of the Indy 500.
"Verizon's dedication to innovation and reliability is second to none, and the Indianapolis Colts are honored to partner with a brand that truly takes care of its community," Colts Vice Chair & Owner Carlie Irsay-Gordon said. "This collaboration represents the best of what teamwork and shared values can achieve, supporting those who have served our nation while making a lasting impact across Indiana."
This effort is part of a $22 million debt relief program across the Great Lakes region over the next two years. Verizon in 2024 relieved more than $4 million in debt for over 4,800 veterans.
"This partnership between Verizon, Team Penske and the Indianapolis Colts represents a unique opportunity to address veteran debt relief while showcasing innovation and excellence," Verizon Great Lakes Market President Andy Brady said. "Together, we aim to make a lasting impact on the lives of the veterans across Indiana, both on the racetrack and in the community.
"... At Verizon, we believe in honoring our veterans not just with words, but with action. Relieving up to $6 million in veteran debt in Indianapolis is a testament to our dedication to providing meaningful support to those who have given so much for our country."
Veterans receiving the debt relief announced Wednesday will be contacted by ForgiveCo., and there is no enrollment process for eligibility. Verizon currently employs over 8,000 veterans and has been recognized as a Military Friendly company for seven consecutive years.
