GE Capital’s Retail Finance business, a consumer lending unit of General Electric Company announced that it has renewed its agreement with Select Comfort Corporation to provide consumer financing programs through Select Comfort’s approximately 400 SLEEP NUMBER® stores, online at sleepnumber.com and Select Comfort’s direct marketing operations. The four-year extension of the SLEEP NUMBER® Card will allow Select Comfort to continue to provide long term financing options with additional offers and discounts for cardholders.
The servicing arrangement between GE Capital and Select Comfort dates back to 1999 and has produced double-digit increases in new cardholder accounts and sales growth over the past two years. The new agreement will help drive growth for many years to come.
Select Comfort’s mission is to improve lives by individualizing sleep experiences. From the revolutionary series of SLEEP NUMBER® beds to the exclusive SLEEP NUMBER® Bedding Collection, its vision is to set a new standard in sleep through product innovation and integrated experiences delivered by its associates.
"Select Comfort is focused on providing an outstanding customer experience and we believe GE Capital is an important part of that value proposition,” said Paul Boeckman, vice president of sales for GE Capital’s Retail Finance business. “We are excited to continue our long-standing relationship with an industry leader and be a part of Select Comfort’s growth plans.”
For more than 75 years, GE Capital’s Retail Finance business has provided billions of dollars in consumer financing through more than 200,000 small- and mid-sized businesses throughout the United States. The business is a leading provider of consumer credit in the home furnishings industry and supports its retail clients and dealers with online technology such as the Business Center, which includes service, training, marketing and sales tools.
About Select Comfort Corporation: Founded more than 20 years ago and based in Minneapolis, Select Comfort Corporation designs, manufactures, markets and supports a line of adjustable-firmness mattresses featuring air-chamber technology, branded the SLEEP NUMBER(R) bed, as well as bases and bedding accessories. Sleep Number products are sold through its 375 company-owned stores located across the United States; select bedding retailers; direct-marketing operations; and online at www.sleepnumber.com.
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 Money Bank, provides credit card programs to retailers and consumers in the United States and Canada. This includes customized private label and bankcard credit programs to major retailers in the U.S., as well as private label credit card programs, promotional and installment lending, bankcards and financial services for consumers through dealers; national, regional and independent retailers; contractors; manufacturers; healthcare practices; and service providers across more than 20 retail segments 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 @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 www.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 @GE_Reports.