Business & Finance
Business and Finance
Business and Finance
Tue, July 19, 2011
Mon, July 18, 2011 RIFCO Inc. Announces name change of operating subsidiary to Rifco National Auto Finance Corporation
RED DEER, AB, July 18, 2011 /CNW/ - RIFCO INC. (TSXV-RFC) is pleased to announce that the name of its wholly owned operating subsidiary will now be Rifco National Auto Finance Corporation. This will be accompanied by a re-branding initiative consistent with the Company's growing presence in the Canadian auto finance industry.
"Our new name, Rifco National Auto Finance allows us to retain Rifco's substantial brand equity, while positioning our Company as capable of lending across a full range of market niches. It's bold, confident, clear, definitive and professional. We feel it communicates our increasing reach and good reputation."
As part of the rebranding efforts, a 4 min video clip has been prepared and can be seen at [ www.Rifco.net ].
The unveiling of Rifco National Auto Finance marks a significant milestone for our Company. The original name, Repair Industry Finance Corporation, no longer represented our business, our market, and our ambitions as a growing player in the Canadian auto finance industry.
In conjunction with the new name, RIFCO has added a tag line to its branding initiatives. The tag line is, 'It's about Time.'
Rifco's third party market research confirmed that its dealer's partners see the Company as a bit of a departure from the more established market participants. Dealers reported that Rifco has differentiated itself in the non-traditional marketplace.
Rifco takes the time to understand the needs and wants of our dealer partners.
Rifco takes the time to supplement technology with frequent, personalized, telephone and face to face interactions.
Rifco takes the time to listen to a common sense credit story so that a borrower can purchase their needed automobile.
Rifco takes the time to understand the financial issues of our borrowers as we service their loans.
'It's about Time.' is another way of saying, that our philosophy, mandate, and way of conducting business set us apart as we grow in market significance.
Rifco National Auto Finance has adopted an updated logo which can be seen on the Company's website at [ www.Rifco.net ].
Effective immediately, all operational business activity will be conducted using the new name.
This announcement does not represent a change in the Company's management or business strategy.
About Rifco
RIFCO Inc. operates through its wholly owned subsidiary Rifco National Auto Finance Corporation to provide automobile loans through its dealership network across Canada.
Rifco National Auto Finance provides consumers with financing options on new and used vehicles. Rifco National Auto Finance specializes in building long-term partnerships with dealers by investing time in personalized services through dedicated account representatives. Rifco's quick credit decisions, common sense lending, and expedited funding processes give its dealers better financing options and more closed deals. Rifco's most successful partnerships result in graduated recognition programs for its loyal dealerships.
Rifco is committed to continuing growth. Key strategies for achieving this growth include the expansion of its automobile dealer base, excellence in credit and collections processes,
The common shares of RIFCO INC. are traded on the TSX Venture Exchange under the symbol "RFC". There are 19.78 million shares (basic) outstanding and 21.34 million (fully diluted) shares.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
