October 1, 2015, 6:30 PM EDT
Synchrony Financial and Springs Window Fashions Introduce New Consumer Financing Program
Financing options available through Synchrony Bank credit card
STAMFORD, Conn. & MIDDLETON, Wis.
Public Company Information:
STAMFORD, Conn. & MIDDLETON, Wis.--(BUSINESS WIRE)--Synchrony Financial (NYSE:SYF), a premier consumer financial services company with 80 years of retail heritage, today announced a new, multi-year agreement to offer a credit card program for consumers to finance Graber® blinds, shades, shutters and draperies.
Springs Window Fashions, founded in 1939 as Badger Crane Drapery Hardware, manufactures and works with retailers, designers and distributors to provide horizontal and vertical blinds, shades, specialty treatments and drapery hardware, including Bali® and Graber® brands. Qualifying cardholders will have access to special financing options and exclusive offers* available through a network of authorized Graber dealers.
“We’re pleased to work with a company that has such a rich history, deep product knowledge and passion for pleasing its customers,” said Glenn Marino, executive vice president and CEO, Payment Solutions, Synchrony Financial. “We share these same attributes and look forward to providing financing options that add value for customers as they improve their home.”
Synchrony Financial’s Fourth Annual Major Purchase Consumer Study** found that home improvement shoppers conduct extensive research when considering purchases over $500, spending an average of 97 days, compared to the 68-day average of shoppers in all 13 categories studied. Further, Synchrony Bank cardholders in the home improvement sector surveyed confirmed the importance of the availability of financing, with 75 percent saying they “always” seek promotional financing when making a large purchase.
“We pride ourselves on delivering a ‘best experience’ for our customers,” said Sean Martin, vice president of marketing, Springs Window Fashions. ”Partnering with Synchrony Financial will provide financing options that help our Graber® dealers enhance their customers’ lives and achieve their design vision through our quality products.”
*Subject to terms and conditions
**Conducted in 2015 by a third party, the Fourth Annual Synchrony Financial Major Purchase Consumer Study explores the customer path to purchase and surveyed consumers who had either made, or planned to make a $500+ purchase in one of 13 categories, including Home Improvement.
About Springs Window Fashions
Springs Window Fashions, the Best Experience Company, supplies leading retailers and distributors with a complete line of blinds, shades, specialty treatments and window hardware. Bali® and Graber® are brands of Springs Window Fashions. Based in Middleton, Wis., the company has facilities in nine locations in the United States and Mexico and employs approximately 5,000 associates. For more information, visit www.springswindowfashions.com.
About Synchrony Financial
Synchrony Financial (NYSE: SYF) is one of the nation’s premier consumer financial services companies. Our roots in consumer finance trace back to 1932, and today we are the largest provider of private label credit cards in the United States based on purchase volume and receivables.*** We provide a range of credit products through programs we have established with a diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers to help generate growth for our partners and offer financial flexibility to our customers. Through our partners’ over 300,000 locations across the United States and Canada, and their websites and mobile applications, we offer our customers a variety of credit products to finance the purchase of goods and services. Synchrony Financial (formerly GE Capital Retail Finance) offers private label and co-branded Dual Card credit cards, promotional financing and installment lending, loyalty programs and FDIC-insured savings products through Synchrony Bank. More information can be found at www.synchronyfinancial.com, facebook.com/SynchronyFinancial and twitter.com/SYFNews.
***Source: The Nilson Report (April, 2015, Issue # 1062) - based on 2014 data.
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