A 10-year relationship between The Andersons, Inc. retail stores and GE Money will continue for multiple years. The companies recently announced a new agreement extending The Andersons Credit Card, a consumer financing program available in six retail stores.The original consumer financing agreement between The Andersons and GE Money began in 1996. The Andersons has six large retail stores in Ohio that offer extensive traditional home center merchandise along with a broad array of products including lawn and garden, house wares and work wear. The stores also feature a unique offering of high-quality fresh foods including produce, deli, bakery, specialty gourmet foods, frozen and fresh meats and one of the largest selections of fine wines in the Midwest.
The company is opening its seventh store, The Andersons Market, in the Toledo area during the second quarter of 2007. The new specialty food store will have a strong emphasis on “freshness” that features produce, deli and bakery items, fresh meats, specialty and conventional dry goods, wine and beer presented in an atmosphere that is both educational and fun
“GE Money has been a powerful and reliable financing partner for us,” said Nick Conrad, assistant treasurer of The Andersons, Inc., a $1.5 billion company headquartered in Maumee, Ohio. “Customer service and value are important components to our business, and GE Money helps provide that in our consumer financing program.”
The Andersons Credit Card offers consumers an option to earn 2 percent reward certificates on every purchase, 90-day, 6-month and 12-month deferred payment and deferred interest on specified levels of purchase, no annual fee, and a 25-day grace period on all new purchases. A Contractors Card also is available.
“The Andersons is a solid company that has combined great products with uncompromising values and service. We are honored to be their financing partner and help them continue to grow,” said Paul Schell, senior vice president for GE Money – Sales Finance.
About The Andersons, Inc.
The Andersons, Inc. is a diversified company with interests in the grain, ethanol and plant nutrient sectors of U.S. agriculture, as well as in railcar leasing and repair, turf products production, and general merchandise retailing. Founded in Maumee, Ohio in 1947, the company now has operations in seven U.S. states plus rail leasing interests in Canada and Mexico. Total revenues in 2006 were $1.5 billion. For more information about The Andersons, visit the company’s Web site at www.andersonsinc.com.
About Sales Finance and GE Money
Sales Finance, based in Kettering, Ohio, is part of GE Money, formerly GE Consumer Finance, and provides private label credit card programs, marketing, installment lending, service contracts and financial services for national and regional retailers and service providers in more than 20 industries including: home improvement, outdoor power equipment, powersports, sporting goods, automotive, recreational vehicles, consumer electronics and appliances, furniture, floor covering, marine, music, jewelry, and health care.
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 more than 54 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
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