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Date Published : Tuesday, March 04, 2008
Banks and financial institutions have a variety of histories. Some are former state departments; some are founded by wealthy businessmen, however very few are directly linked to the inventor of the light bulb.
GE Money Australia, though, is. GE Money has been, for over 100 years, the financial division of General Electric - a company which makes everything from lighting to wind turbine.
General Electric was initially founded in 1890 by Thomas Edison - inventor of the light bulb - under the name of the Edison General Electric Company. Through a succession of mergers, the company was renamed General Electric and, to deal with its growing nature, GE Money was born.
The financial company grew from its base of company employees rapidly to be come one of the major banking authorities in the US.
GE Money Australia was formed in 1995 when GE Money acquired the credit card operations of the Coles Myer Group. Since then, it has invested many millions of dollars in opening a total of 134 branches and financial opportunities across both Australia and New Zealand.
Today, Victoria-based GE Money is one of Australia's largest credit card companies, while also offering motor insurance, home insurance, personal loans, home loans and business services.
It still holds close links with the Coles Myer company and provides the store cards of both the Coles and Myer outlets.
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