STAMFORD, Conn.--(BUSINESS WIRE)--GE Capital Retail Bank, a consumer lending unit of General Electric Company (NYSE: GE), and Sam’s Club, a division of Wal-Mart Stores, Inc. (NYSE: WMT) and a leading membership warehouse club, today announced their multi-year agreement to continue providing the Sam’s Club credit card program to their Advantage and Business Members. GE Capital’s Retail Finance business, the operating entity that provides financial solutions to retailers to help grow their customer sales, will continue to manage the Sam’s Club relationship and service the account.
The financing program is available at more than 600 Sam’s Club locations across the United States and Puerto Rico and can be used at Wal-Mart stores, as well as for online Sam’s Club purchases and everywhere Discover® is accepted. The Sam’s Club private label credit card and Discover card program enables both Advantage and Business Member cardholders to enjoy a range of benefits, including, zero fraud liability with photo protection, one-card membership and credit card convenience, no fee in-Club cash access, special financing promotions, itemized billing statements (for Business Members only) and advance notice of savings opportunities and events.
“Our Members value having the convenience of a dedicated line of credit to use for all their in-Club and online purchases, and we are pleased to continue providing these payment options through the renewal of our credit card program,” said Alex Aguila, senior director, Financial Services for Sam’s Club. “GE Capital Retail Bank understands the needs of our Members and has helped us create solutions over the last 19 years that are versatile and build repeat business.”
“We share Sam’s Club’s dedication to its Members, and we’re pleased to continue this relationship,” said Steve Hacala, Vice President & General Manager for Sam's Club Credit Services with GE Capital’s Retail Finance business. “Enhancing the Membership offerings has been an important aspect of the financing program for nearly two decades and we look forward to continuing to enable Advantage and Business Members to purchase the products and services they need.”
GE Capital Retail Bank began providing a net term credit program for Business Members of Sam’s Club in 1993; added revolving credit programs in 1995; and currently offers the Sam’s Club Member private label and Discover credit cards for Advantage and Business Members.
About GE Capital’s Retail Finance business
GE Capital’s Retail Finance business is among the country’s most successful retail lenders, with more than 75 years of experience in consumer financing. The business, which originates loans as a unit of 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.