GE Capital Retail Bank And Sam’s Club Extend Member Credit Card Program

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.”

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