GE Money Bank is a unit of General Electric Company aimed at meeting financial needs of the population and small enterprises through the provision of services. It is a leading provider of retail banking and credit services. GE Money Bank has its headquarters in London, UK. The total assets of GE Money Bank are more than $200 billion.

In the year 2008 made a three year commitment with FINCA’s Village Banking Campaign, worth $1.5 million. FINCA is one of the leading organizations internationally when it comes to micro finance organizations that are providing services to the entrepreneurs in low income group all over the world. For more than 20 years FINCA has been giving community based credit and savings opportunity to break the vicious circle of poverty. FINCA is operating in 21 countries to provide socio economic development to the disadvantaged low income group.

Through Village Banking Campaign, GE Money Bank and FINCa, is committed to provide small loans, savings products and insurance to about one million low income entrepreneurs of the world by the year 2010. As GE Money Bank’s corporate social responsibility it is committed to support and promote financial literacy, economic empowerment and development. Therefore it has partnered with FINCA to provide value added services to the impoverished and disadvantaged group of people. 

This monetary donation to FINCA is part of the GE Money Bank’s global philanthropic program, “Banking on Women.” GE Money Bank’s President and CEO Bill Cary states that “Banking on Women is about investing in the world’s women because sharing knowledge, time and experience can help transform lives, At GE Money, we’re committed to improving lives by promoting sound financial education, successful entrepreneurship and an investment in the human spirit.”

During the year 2008, FINCA used the first installment of $500,000 for providing additional start-up capital for FINCA Jordan which was FINCA International’s latest program in the Greater Middle East. It also expanded FINCA’s outreach in Malawi which is one of the poorest countries in Africa.

For entering into India FINCA developed a business plan and feasibility study, one of its priority countries. Operations in Ukraine were also started as part of the plan to expand to the Eurasia region. Another most important project that was started was the initiation of health education project in Mexico. 

In the local market GE Money Bank organized financial education and entrepreneurial training with the view to target the program to the specific needs of each community. GE Money Bank’s own employees volunteered to help people living in their surrounding to help them have a better life. 

FINCA’s International Executive Director Rupert Scofield appreciated the commitment and efforts of GE Money Bank and said that “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. 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.”

The GE Money Bank has been quite generous in doing charitable activities. As in the year 2007 the GE Money Bank in Hungary, Budapest organized Day of Care. In this charity program not only the bank employees volunteered but their families also took part in it. The Day of Care was aimed at improving the overall environment of the Special Training and Development Institute. The volunteers tried to make a difference to the lives of the disadvantaged children. The bank also donated HUF 1,200,000 in cash for the betterment of the school.