GE Capital’s Sales Finance unit and York Renew Consumer Financing Program
Payment options help homeowners weather unexpected HVAC purchases
KETTERING, OHIO and MILWAUKEE, WIS. – June 21, 2011 -- GE Capital’s Sales Finance business, a consumer lending unit of General Electric Company (NYSE:GE - News), has renewed its agreement with York, a brand of Johnson Controls, to provide consumer financing programs through York heating, ventilation, air conditioning and refrigeration (HVAC&R) equipment dealers and contractors across the U.S.
Under the multi-year agreement, York dealers and contractors will be able to offer consumer financing as part of GE Money’s Home Design – HVAC program. The new agreement will extend the relationship, which began in 2009, and cover a wide range of residential comfort products, including air conditioners, heat pumps, furnaces and comfort controls.
“Updating or replacing heating and air conditioning equipment can be an unexpected expense, so homeowners and businesses need financing options that will fit into their budget,” said Bruce Christensen, vice president and general manager, Home Improvement for GE Capital’s Sales Finance business. “We’ve developed a great business relationship with York and we’re happy to continue to work with their teams to provide solutions for their business and their customers.”
York is a leader in energy efficiency and home comfort products and has designed and implemented heating and cooling systems in some of the world’s most famous structures, including the U.S. Capitol building. Its residential products are recognized for quality by the Good Housekeeping Seal of Approval and industry-leading warranties.
“GE Money has been a great partner for us because they know the HVAC industry and are very consumer oriented,” said Andy Armstrong, director of marketing, Unitary Products, Johnson Controls. “Their financing options help our customers get the products and services they need, when they need it, and they make it easy for our dealers with fast credit decisions and simple processes.”
For more than 75 years, GE Capital Sales Finance has provided billions of dollars in consumer financing through more than 200,000 small- and mid-sized businesses throughout the United States. GE Money is a leading provider of consumer credit in the home improvement and home utility industries and supports its retail partners with online technology such as the Business Center, which includes service, training, marketing and sales tools.
York® products from Johnson Controls include energy-efficient, residential central air-conditioners, heat pumps, furnaces and accessories and innovative light-commercial, packaged heating and cooling systems marketed through a national distribution network and delivered to home- and building-owners through qualified York heating and cooling dealers. For more information about York, visit: www.yorkhvacdealer.com or call 877-453-YORK.
About Johnson Controls
Johnson Controls is a global diversified technology and industrial leader serving customers in over 150 countries. Our 142,000 employees create quality products, services and solutions to optimize energy and operational efficiencies of buildings; lead-acid automotive batteries and advanced batteries for hybrid and electric vehicles; and interior systems for automobiles. Our commitment to sustainability dates back to our roots in 1885, with the invention of the first electric room thermostat. Through our growth strategies and by increasing market share we are committed to delivering value to shareholders and making our customers successful. In 2011, Corporate Responsibility Magazine recognized Johnson Controls as the #1 company in its annual "100 Best Corporate Citizens" list. For additional information, please visit http://www.johnsoncontrols.com.
About GE Capital’s Sales Finance Business
Based in Kettering, Ohio, GE Capital’s Sales Finance business is among the country’s oldest and most successful retail lenders, with more than 75 years of experience in consumer financing. The business, which originates loans as a unit of GE Money Bank, 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 more than 15 industries including: automotive, appliances and consumer electronics, 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 and twitter.com/GEMoneyUS.
GE Capital (NYSE: GE) is one of the world’s largest providers of credit. For over one million businesses, large and small, GE Capital provides financing to purchase, lease and distribute equipment, as well as capital for real estate and corporate acquisitions, refinancings and restructurings. For our 100+ million consumer customers, GE Capital offers credit cards, retail sales finance programs, home, car and personal loans and credit insurance. For more information, visit gecapital.com or follow company news via Twitter @GECapital.
GE is a diversified infrastructure, finance and media company taking on the world’s toughest challenges. From aircraft engines and power generation to financial services, health care solutions, and television programming, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com, www.gereports.com and twitter.com/ge_reports.
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