GE Money and American Residential Services Extend Consumer Finance Program
CREDIT PROGRAM MAKES PLANNED AND UNEXPECTED HOME NEEDS MORE AFFORDABLE
ST PAUL, MINN. -- July 18, 2007 – GE Money’s Sales Finance unit has renewed its consumer finance agreement with American Residential Services LLC (ARS®), a leading provider of air conditioning, heating, and plumbing services under the brand names ARS®, and Rescue Rooter®. ARS and Rescue Rooter operate nearly 60 company-owned locations throughout the United States.
CREDIT PROGRAM MAKES PLANNED AND UNEXPECTED HOME NEEDS MORE AFFORDABLE
ST PAUL, MINN. -- July 18, 2007 – GE Money’s Sales Finance unit has renewed its consumer finance agreement with American Residential Services LLC (ARS®), a leading provider of air conditioning, heating, and plumbing services under the brand names ARS®, and Rescue Rooter®. ARS and Rescue Rooter operate nearly 60 company-owned locations throughout the United States.
GE Money has offered the “ARS HomeCard” to ARS customers since the original agreement was signed in October 1997.The new agreement will extend the relationship for multiple years, and covers a wide range of residential products, including air conditioning and heating systems, air filtration and purification products to improve indoor air quality, comfort controls, and large plumbing or sewer line replacements.
“The ARS HomeCard helps us satisfy the needs of homeowners and small businesses,” said Jim McMahon, Senior Vice President and Chief Financial Officer for ARS. “Customers frequently need the flexibility that financing provides, and it allows our service centers to provide an additional valuable service to customers.”
According to the American Lung Association, more than half of Americans don’t know poor indoor air quality is one of the top five environmental risks to public health; yet 50 percent of all illnesses and allergies are aggravated by poor indoor air quality. The ARS HomeCard offers deferred payment and other promotional terms, giving ARS and Rescue Rooter customers a variety of ways to make their purchase affordable. ARS HomeCard transactions are serviced through GE Money’s Rapid City (S.D.) service center.
“A new HVAC or sewer repair is often an unexpected purchase that financing can help homewowners fit within their budget,” said Gary Slagle, vice president and general manager of the home utility division of GE Money – Sales Finance. “We’ve spent nearly 10 years as their financing provider, and this agreement ensures that we will continue to serve ARS and Rescue Rooter customers for years to come.”
ABOUT ARS
American Residential Services LLC, based in Memphis, Tenn., provides heating, cooling, plumbing, and drain cleaning services across the United States. With a network of 57 service locations spanning 24 states and the District of Columbia, the company primarily operates under two brands – ARS and Rescue Rooter. The company serves both residential and light commercial customers. American Residential Services LLC has approximately 2,500 trained and skilled technicians. Visit www.ars.com.
About Sales Finance and GE Money
Sales Finance, based in Kettering, Ohio, is part of GE Money, and provides private label credit card programs, marketing, installment lending and financial services for national and regional retailers, dealers and service providers in more than 20 markets including: landscaping, home improvement, recreational vehicles, marine, automotive, powersports, outdoor power equipment, consumer electronics and appliances, furniture, floor covering, jewelry and luxury goods, and various health care disciplines.
With more than $190 billion in assets, GE Money, a unit of General Electric Company (NYSE: GE), is a leading provider of credit services to consumers, retailers and auto dealers in 55 countries around the world. GE Money, based in Stamford, Conn., offers a range of financial products, including private label credit cards, personal loans, bank cards, auto loans and leases, mortgages, corporate travel and purchasing cards, debt consolidation and home equity loans and credit insurance. More information can be found at www.gemoney.com.
GE is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit www.ge.com.
©2007 General Electric Company, All rights reserved.
“The ARS HomeCard helps us satisfy the needs of homeowners and small businesses,” said Jim McMahon, Senior Vice President and Chief Financial Officer for ARS. “Customers frequently need the flexibility that financing provides, and it allows our service centers to provide an additional valuable service to customers.”
According to the American Lung Association, more than half of Americans don’t know poor indoor air quality is one of the top five environmental risks to public health; yet 50 percent of all illnesses and allergies are aggravated by poor indoor air quality. The ARS HomeCard offers deferred payment and other promotional terms, giving ARS and Rescue Rooter customers a variety of ways to make their purchase affordable. ARS HomeCard transactions are serviced through GE Money’s Rapid City (S.D.) service center.
“A new HVAC or sewer repair is often an unexpected purchase that financing can help homewowners fit within their budget,” said Gary Slagle, vice president and general manager of the home utility division of GE Money – Sales Finance. “We’ve spent nearly 10 years as their financing provider, and this agreement ensures that we will continue to serve ARS and Rescue Rooter customers for years to come.”
ABOUT ARS
American Residential Services LLC, based in Memphis, Tenn., provides heating, cooling, plumbing, and drain cleaning services across the United States. With a network of 57 service locations spanning 24 states and the District of Columbia, the company primarily operates under two brands – ARS and Rescue Rooter. The company serves both residential and light commercial customers. American Residential Services LLC has approximately 2,500 trained and skilled technicians. Visit www.ars.com.
About Sales Finance and GE Money
Sales Finance, based in Kettering, Ohio, is part of GE Money, and provides private label credit card programs, marketing, installment lending and financial services for national and regional retailers, dealers and service providers in more than 20 markets including: landscaping, home improvement, recreational vehicles, marine, automotive, powersports, outdoor power equipment, consumer electronics and appliances, furniture, floor covering, jewelry and luxury goods, and various health care disciplines.
With more than $190 billion in assets, GE Money, a unit of General Electric Company (NYSE: GE), is a leading provider of credit services to consumers, retailers and auto dealers in 55 countries around the world. GE Money, based in Stamford, Conn., offers a range of financial products, including private label credit cards, personal loans, bank cards, auto loans and leases, mortgages, corporate travel and purchasing cards, debt consolidation and home equity loans and credit insurance. More information can be found at www.gemoney.com.
GE is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit www.ge.com.
©2007 General Electric Company, All rights reserved.
