GE Money Supports Village Banking Campaign with $1.5 Million Grant

Media Contact: Diane Jones       FINCA International        (949) 215-6130        djones@villagebanking.org       Laura McCafferty/GE Money        202-585-2384

GE Money Supports Village Banking Campaign with $1.5 Million Grant
Funding to be used for loan capital, program expansion and research

Washington, DC, April 23, 2008 – GE Money has made a $1.5 million, three-year commitment at FINCA’s Village Banking Campaign that will support the Campaign’s goals of reaching one million of the world’s lowest-income entrepreneurs by 2010 with small loans, insurance and savings products. The grant formalizes the two organizations’ commitment to partner on a range of endeavors that couple GE Money’s corporate social responsibility strategy to promote economic development, empowerment and financial literacy with FINCA’s goal of creating strategic partnerships that deliver value-added services to clients.

During 2008, FINCA will use the first $500,000 installment of the funding to:

• Provide additional start-up capital for FINCA Jordan, FINCA International’s newest program in the Greater Middle East;
• Expand FINCA’s outreach in Malawi, one of the poorest countries in Africa;
• Develop a business plan and feasibility study for FINCA’s entry into India, one of FINCA’s priority countries;
• Fund start-up activities to begin operations in Ukraine, FINCA’s newest endeavor in the Eurasia region; and
• Initiate a health education project in Mexico, an innovative, value-added client service.

FINCA International Executive Director Rupert Scofield said the agreement marks the beginning of what is destined to be a long-term partnership that advances FINCA’s goals for outreach and product development expansion.

“GE Money’s commitment will allow us to more rapidly advance our strategy of broadening and deepening our outreach in current programs, as well as expanding into high-density populations where the need is tremendous, and the supply is always lacking,” Scofield said. “In addition, GE Money’s CSR commitment matches perfectly with our goals of helping the industrious poor better manage their resources in order to achieve self sufficiency over the long term.”

GE Money President and CEO Bill Cary said the grant is   part of the company’s global philanthropic program, “Banking on Women.”

“Banking on Women is about investing in the world’s women because sharing knowledge, time and experience can help transform lives,” Cary commented. “At GE Money, we’re committed to improving lives by promoting sound financial education, successful entrepreneurship and an investment in the human spirit.”

Locally, GE Money will organize financial education and entrepreneurial training, so that programs can be targeted to the specific needs of each community. GE Money volunteers will actively participate in helping people in the communities in which they live and work to change their lives for the better.

FINCA International

FINCA is a leading international micro-finance organization that provides financial services to the world's lowest-income entrepreneurs, helping them to create jobs, build assets and improve their standard of living.  For more than twenty years, FINCA has been committed to breaking the cycle of poverty by providing community-based credit and savings opportunities. Currently, FINCA operates with a distinctive, integrated business model that accepts donations and investment dollars, an approach that leverages available capital and promotes greater transparency, sustainability and higher standards of business practices.  This has allowed FINCA to achieve balanced financial and social performance unmatched in its industry while opening the path to socio-economic development for the lowest-income citizens of the world.  Based in Washington DC with local operations across 21 countries serving 700,000 clients (as of 04.30.08), FINCA's outreach is among the broadest and most comprehensive of today's microfinance networks.  For more information, please visit www.villagebanking.org

GE Money

With more than $200 billion in assets, GE Money, a unit of General Electric Company (NYSE:GE), is a leading provider of retail; banking and credit services to consumers, retailers and auto dealers in 55 countries around the world. With more than 130 million global customers, GE Money, headquartered in London, UK offers a range of financial products, including private label credit cards, personal loans, bank cards, auto loans and leases, mortgages, corporate travel and purchasing cards, debt consolidation and home equity loans, and credit insurance. More information can be found at http://global.gemoney.com

GE
GE (NYSE: 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. For more information, visit the company's Web site at www.ge.com