GE Capital Retail Bank Renews P.C. Richard & Son Consumer Credit Card Program

STAMFORD, Conn. & FARMINGDALE, N.Y.--(BUSINESS WIRE)--GE Capital Retail Bank today announced a multi-year extension of its relationship with P.C. Richard & Son to provide a consumer credit card program. GE Capital Retail Bank provides financial solutions to retailers to help grow their customer sales and will continue to service the account and manage the credit program, which began in 1986.

“Our research shows that consumers shopping for electronics and appliances look for a wide selection, knowledgeable service and an affordable way to make their purchases”

“Over the past three decades, GE Capital and P.C. Richard & Son have built a strong relationship,” said Tom Pohmer, VP and CFO for P.C. Richard & Son. “GE Capital’s flexible financing programs have helped us build long-term customer loyalty, and we’re pleased to continue working together.”

P.C. Richard & Son is one of the oldest private, family-owned appliance and consumer electronics retailers in the United States with 65 locations, as well as an online store. Founded in 1909, P.C. Richard & Son has a long history of working with GE, including carrying GE appliances and products for nearly a century. Today, customers can apply for the P.C. Richard & Son Credit Card in-store or online and qualified applicants receive immediate approval for purchases with flexible financing promotions.* Cardholders can manage their account online, as well as make payments in-store.

“Our research shows that consumers shopping for electronics and appliances look for a wide selection, knowledgeable service and an affordable way to make their purchases,” said Paul Schell, general manager for GE Capital’s Retail Finance business. “We’re proud to continue providing a consumer credit card program, which has been an important tool to build business for P.C. Richard & Son and meet the needs of its customers.”

For 80 years, GE Capital has helped major retailers and more than 200,000 small- and mid-sized businesses throughout the United States build consumer financing programs that support business growth and customer satisfaction. GE Capital is a leading provider of consumer credit in the Appliances and Consumer Electronics industry. The company supports its clients with proprietary online technology such as Business Center, which includes service, marketing and sales tools, as well as Learning Center, providing businesses with access to comprehensive training for their teams on financing for consumers.

*Subject to credit approval and availability

About P.C. Richard & Son

Founded in 1909, P.C. Richard & Son is one of the oldest private, family-owned appliance and consumer electronics retailers in the United States. This Week in Consumer Electronics places P.C. Richard & Son among the top 25 largest electronics retailers in America. For more information, visit www.pcrichard.com, Facebook.com/Pcrichardandson or via Twitter @PCRichardandSon.

About GE Capital's Retail Finance business

GE Capital’s Retail Finance business is among the country’s most successful retail lenders, with 80 years of experience in consumer financing. The business, with its lending entity GE Capital Retail Bank, provides customized credit programs to retailers and consumers in the United States and Canada that help drive sales. This includes private label and bankcard credit programs to major national, regional and independent retailers in the U.S., as well as private label credit programs, promotional and installment lending, bankcards and financial services for consumers through dealers; contractors; manufacturers; healthcare practices; and service providers across nearly 20 industries. We are not just bankers; we help clients build better businesses. More information can be found at www.gogecapital.com and twitter.com/GoGECapital.

GE Capital 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, sales finance programs, home, car and personal loans and credit insurance. For more information, visit www.gecapital.com or follow company news via Twitter @GECapital.

GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.