SALES FINANCE UNIT TO PROVIDE CONSUMER FINANCING PROGRAM TO MOTORSPORTS ENTHUSIASTS
KETTERING, OHIO and KANSAS CITY, MO. – October 30, 2009 – GE Money, the consumer lending unit of General Electric Company (NYSE:GE - News), and the National Association of Diesel Motorsports (NADM) today announced a multi-year agreement to offer a consumer financing program. The GE Money Auto card will provide a no annual fee credit program with special financing offers to consumers making diesel motorsports parts, accessories and repair purchases at participating NADM diesel performance dealers. The card is managed by GE Money’s Sales Finance unit, which provides billions of dollars of consumer financing through more than 145,000 small and medium businesses on Main Streets across the United States.
“We are excited about this card not only for NADM, but for diesel motorsports,” said Ron Knoch, director for NADM. “GE Money has a long, successful history in customized financing programs for the auto and motorsports industries, and we are pleased to work with them in offering such a convenient, cost effective financing program to our members and their customers.”
In addition to the ability to offer the GE Money Auto card, NADM’s more than 2,500 dealers across the U.S. will have access to GE Money’s Web-based finance management portal, Business Center. Business Center provides an easy, secure way manage their credit programs and better serve their customers with secure, one-stop access to all the sales, operational, marketing and training tools they need at the click of a button. Convenient online account management is also available for cardholders.
“We are extremely pleased to have teamed with NADM,” said Steve Roe, general manager, Automotive, GE Money – Sales Finance. “Diesel motorsports fans can now take advantage of a financing program created specifically for their repair and aftermarket needs, making budgeting and paying for these expenses easier and more convenient.”
About National Association of Diesel Motorsports (NADM)
The National Association of Diesel Motorsports (NADM) is an industry association providing services to the diesel aftermarket performance industry. Their member-base is comprised of fans, participants and businesses involved with diesel motorsports. NADM sponsors events for drag racing, sled pulling, dyno competition, and show-n-shine. NADM, became a national body via regional associations in October 2007 and represents 2,500 diesel performance dealers. In 2009, NADM sponsored four national events and over 47 regional events, which reached an audience that exceeded 275,000. For more information, visit www.runnadm.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). 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.
GE (NYSE: 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 the company's Web site at www.ge.com.
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