STAMFORD, Conn.--(BUSINESS WIRE)--Feb. 17, 2003--GE Consumer
Finance, a top issuer of private label credit cards in North America, and Meijer Stores, one of the fastest-growing privately owned companies in the United States, announced today the launch of the company's first-ever private label credit card program.
The new Meijer card is being launched in Detroit and will soon be available in all of its 156 retail supercenters throughout the Midwest.
We're excited to be teaming up with Meijer, said Mark Begor, President and Chief Executive Officer of GE Consumer Finance - Americas.
This new program fits perfectly with our strategy to grow our business by partnering with strong retailers that share our commitment to quality and service.
Begor explained that GE Consumer Finance is an attractive partner because of its expertise in credit marketing, success in launching national programs, and proven ability to provide high-quality service to cardholders.
We are thrilled to be a partner with a proven industry leader, said Larry Zigerelli, Senior Vice President of Marketing/Advertising and Corporate Development for Meijer. Our partnership with GE will provide our customers with a competitive, quality program that will enhance the continued growth of our sales.
Under the new private label credit card program, Meijer cardholders will enjoy a range of valuable programs and benefits, including a 10-percent off promotion on their first purchase, a dedicated line of credit and no annual fees.
About Meijer
Opened in 1934, Meijer is a family-owned and operated grocery and general merchandise retailer based in Grand Rapids, Michigan, operating 156 stores throughout Illinois, Indiana, Kentucky, Michigan, and Ohio. Meijer customers can choose merchandise from about 40 departments, including hardware, apparel, toys, and electronics. Most stores also sell gasoline, offer banking services, and have multiple in-store restaurants. Meijer Stores incorporate the Meijer family's values and corporate ideals: extraordinary selection, low prices and friendly service. Meijer can also be found on the Internet at www.meijer.com.
About GE and GE Consumer Finance
GE Consumer Finance, a unit of General Electric Company, with $73 billion in assets, is a leading provider of credit services to consumers, retailers and auto dealers in 35 countries around the world. GE Consumer Finance, 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.
GE (NYSE:GE) is a diversified services, technology and manufacturing company with operations worldwide.
More information about GE can be found online at www.ge.com.
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CONTACT: GE Consumer Finance:
Peter Tosches, 203/316-7284 (office)
203/247-7487 (cell)
203/758-6646 (home)
or
Meijer:
Steve VanWagoner, 616/791-5265 (office)
[email protected]
Cristy Williams
[email protected]
678.518.2596