CHICAGO – GE and the Michigan Boating Industries Association have pledged to contribute to the Grow Boating Initiative’s Rising Tide fund, Grow Boating reported in separate statements yesterday and today.
Two GE business units, GE Commercial Distribution Finance and GE Retail Sales Finance are Double Platinum contributors to the fund with a $150,000 combined donation, or $50,000 a year over a three-year period.
“Grow Boating provides the entire industry with an opportunity to cost-effectively deliver the message across the U.S. that boating is a way to make life more exciting and fun, while at the same time helping the industry improve the boating experience,” said Bruce Van Wagoner, president of the Marine Unit for GE-Capital Solutions, Commercial Distribution Finance. “Attracting new boaters to the water will enable the entire industry to grow and benefit.”
“The marine dealers and manufacturers we serve are able to offer customers flexible financing options, making boating more affordable and attractive for new enthusiasts and existing owners alike,” said Ed Arienti, president of RV/Marine for GE Consumer Finance’s Retail Sales Finance unit. “We are proud to support the Grow Boating Initiative, which encourages people to enjoy our natural resources, drives growth for our clients and expands interest in the industry.”
“GE has been a leader in the Grow Boating Initiative from day one,” said Thom Dammrich, president of the National Marine Manufacturers Association. “Their support and financial commitment, along with the involvement of their leadership teams, are helping insure the success and broad industry buy-in of this critical industry initiative.”
The MBIA is a Gold Rising Tide Fund contributor with a $30,000 donation, or $10,000 a year over a three-year period.
“The MBIA has communicated its interest and support for an industry-based marketing and promotion campaign for a number of years, and to see the industry work together on the Grow Boating Initiative is very satisfying to all of us,” said Van Snider, MBIA president. “The MBIA board of directors felt it was appropriate to make a three-year commitment to the campaign and support it with dollars to help it come to fruition.”
MBIA has supported the Grow Boating Initiative from its inception, contributing $19,200 to the Initiative¹s Start-Up Fund in 2004 and 2005.
Established in 2006, the Rising Tide Fund is a way in which industry stakeholders can pledge voluntary contributions at varying levels of commitment to the Grow Boating Initiative. The pledge commitment lasts for three years and can be made at the following levels: Participant ($1-$2,999); Bronze ($3,000-$14,999); Silver ($15,000-$29,999); Gold ($30,000-$74,999); Platinum ($75,000-$149,999); Double Platinum ($150,000-$224,999); and Triple Platinum ($225,000-$299,999).
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