03 August 2009
GE Money Signs Multi-Year Agreement with ABC Warehouse
Sales Finance Unit to Provide Consumer Financing Program for Consumer Electronics Retailer
GE Money and ABC Warehouse, a leading consumer electronics and appliance retailer, today announced a multi-year agreement to provide consumer financing through the company’s store locations and online stores.
The new private label credit program, launched July 1, is backed by GE Money’s Sales Finance unit and provides flexible financing promotions and extended terms, including no-interest periods of up to 12 to 18 months. ABC Appliance stores include ABC Warehouse, Hawthorne Appliance, U.S. Appliance.com and Mickey Shorr, a mobile electronics retailer. The company has more than 58 stores in Michigan, Ohio and Indiana.
“These days, perhaps more than ever, consumers need smart financing options. Our new credit program with GE Money will enable us to offer special promotions and flexible financing programs that will generate real consumer excitement,” said Martin Hartunian, chief executive officer of ABC Appliance. “Most important, it is a valuable tool for our customers who want to get what they need today and fit the purchase comfortably into their budget.”
Headquartered in Pontiac, Michigan, ABC Appliance is a family-owned business founded in 1964 by company chairman, Gordon Hartunian. The company carries a wide variety of major electronics brands in stores that are set up similar to warehouses.
“ABC Appliance is one of the regions most established and successful appliance and electronics retailers, so we are honored that they chose GE Money as their consumer financing partner,” said Paul Schell, general manager, GE Money – Sales Finance. “Our goal will be to provide the best service and support we can to ABC Warehouse stores and their customers.”
About ABC Appliance, Inc.
With more than 58 stores and 1,700 employees, ABC Appliance, Inc., is one of the leading consumer electronics retailers in the Midwest. The company was founded in 1964 the company’s Chairman, Gordon Hartunian and remains a family-owned business. Stores in the ABC Appliance family include ABC Warehouse, Hawthorne Appliance, U.S. Appliance.com and Mickey Shorr. For more information about ABC Appliance, Inc., go to www.abcwarehouse.com.
About GE Money
GE Money’s Sales Finance unit, based in Kettering, Ohio, is a part of General Electric Company’s GE Capital division, (NYSE: GE), which has extended more than $146 billion of credit to some 50 million consumers in the U.S. since January 2008. Visit
GE Capital: Advertising to learn more about GE Capital’s role in the American renewal.
GE Money provides credit card programs and financial services for consumers through dealers; national, regional and independent retailers; associations; contractors; manufacturers; healthcare practices; and service providers in nearly 20 industries including: automotive, consumer electronics and appliances, elective health care, floor covering, home design and improvement, home furnishings, jewelry, music, powersports, outdoor power equipment and sporting goods. More information can be found at
www.gemoney.com,
www.gecapital.com and
twitter.com/gecapitalnews.
GE is a diversified global infrastructure, finance and media company that is built to meet essential world needs. From energy, water, transportation and health to access to money and information, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. GE is Imagination at Work. For more information, visit
www.ge.com,
www.gereports.com and
twitter.com/ge_reports.
