GE Money and the Professional Audio-Video Retailers Association (PARA), a division of the Consumer Electronics Association, announced a multi-year agreement to provide consumer financing through PARA member retailers.
The private label credit card program, managed by GE Money’s Sales Finance unit, provides attractive, consumer financing programs and special credit promotions that make it easy for retailers to drive initial and repeat audio-visual equipment sales. Key benefits of the financing program include no annual fee, no down payment required, 24-hour online account access, everyday no-interest promotional financing and low minimum monthly payments.
“Many consumers utilize financing for their audio-visual purchases,” said Kerry Moyer, director of PARA. “The GE Money credit card program will provide PARA dealers customers’ with what they are requesting: a payment option with unique promotional terms created just for them that lets them stay within their monthly budgets.”
“Consumers are becoming increasingly knowledgeable about electronics products that make life easier and more enjoyable,” said Louis Pagliarini, vice president of sales for GE Money - Sales Finance’s Consumer Electronics division. “Likewise, they are also smarter when it comes to financing options that help them enjoy the products they want with credit terms that work best for them and their finances. The PARA financing program is a great solution for savvy retailers who want to meet those customer needs while driving growth and traffic for their businesses.”
About PARA and the Consumer Electronics Association
The PARA Division of the Consumer Electronics Association is home for more than 250 professional audio, video, home theater, and custom electronics specialty dealers. These members share a common interest in continuing education, maintaining competitiveness, enhancing the marketplace, and improving financial performance. The PARA Division helps members grow their business skills through education and fosters professional relationships with their suppliers in the manufacturing community.
The Consumer Electronics Association (CEA) is the preeminent trade association promoting growth in the $161 billion U.S. consumer electronics industry. More than 2,200 companies enjoy the benefits of CEA membership, including legislative advocacy, market research, technical training and education, industry promotion and the fostering of business and strategic relationships. CEA also sponsors and manages the International CES – Where Entertainment, Technology and Business Converge. All profits from CES are reinvested into CEA’s industry services.
About GE Money
With more than $200 billion in assets, GE Money (gemoney.com), a unit of General Electric Company, (NYSE: GE) is a leading provider of retail banking and credit services to consumers and retailers in more than 50 countries around the world. With more than 130 million global customers, GE Money, based in London, UK, offers a range of financial products, including private label credit cards, personal loans, bank cards, mortgages, debt consolidation and home equity loans and credit insurance. GE Money’s Sales Finance unit, based in Kettering, Ohio, provides private label 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 20 industries including: automotive, consumer electronics and appliances, elective health care, floor covering, home design and improvement, home furnishings, jewelry, marine, music, powersports, outdoor power equipment, recreational vehicles, sporting goods and travel.
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.