1. Sheffield Financial and Polaris extend financing partnership since 2009. 2. Renewal improves financing options for Polaris dealers and customers. 3. Truist Bank backs Sheffield Financial, strengthening industry position. 4. Sheffield Financial enhances retail sales through innovative financing tools. 5. Truist remains a leading commercial bank with substantial market share.
The partnership renewal indicates a stable growth trajectory for TFC, similar to previous successful partnerships that positively influenced stock performance.
A strong partnership with Polaris could lead to increased retail financing demand, affecting TFC’s earnings positively.
The extended partnership solidifies Truist’s position in the powersports financing market, likely augmenting long-term revenue streams.
Sheffield Financial, a division of Truist Bank, and Polaris Inc. (Polaris), a global leading powersports manufacturer, have extended their long-standing retail financing partnership, which began in 2009. This multi-year renewal highlights both companies' commitment to delivering customer-friendly installment financing options that enhance the retail experience for Polaris dealers and customers nationwide.
Polaris dealers benefit from this partnership with access to Sheffield Financial's nationwide installment financing, digital tools and service, including:
"Polaris is a valued partner in our mission to deliver a flexible, convenient and friendly financing experience to powersports customers," said Susan Andersson, head of national accounts at Sheffield Financial. "This extended partnership reflects our shared commitment to providing innovative tools and exceptional service to Polaris dealers and helping customers bring their Polaris powersports adventure to life."
"Sheffield has been a reliable partner for Polaris, offering a range of fast and flexible financing tools tailored to the specific needs of our diverse dealer network. Extending this relationship highlights our commitment to providing our dealers with competitive financial solutions that support our shared growth," said Bob Mack, Chief Financial Officer and Executive Vice President, Finance & Corporate Development, Polaris.
Sheffield Financial, a division of Truist Bank, Member FDIC, is a trusted leader in providing simple, easy and fast installment financing to the marine, powersports, compact tractor, outdoor power equipment, and trailer industries. Founded 32 years ago, Sheffield Financial has grown into a powerhouse serving hundreds of leading brands and financing millions of customers across the USA. Backed by Truist Bank, one of the largest financial service holding companies in the USA, Sheffield Financial offers innovative financial options, friendly service and simple, easy and fast retail financing to help manufacturers and dealers drive more retail sales. Learn more at SheffieldFinancial.com.
Truist Financial Corporation (NYSE: TFC) is a purpose-driven financial services company committed to inspiring and building better lives and communities. As a leading U.S. commercial bank, Truist has leading market share in many of the high-growth markets across the country. Truist offers a wide range of products and services through our wholesale and consumer businesses, including consumer and small business banking, commercial banking, corporate and investment banking, wealth management, payments, and specialized lending businesses. Headquartered in Charlotte, North Carolina, Truist is a top-10 commercial bank with total assets of $531 billion as of Dec. 31, 2024. Truist Bank, Member FDIC. Learn more at Truist.com.
As the global leader in powersports, Polaris Inc. (NYSE: PII) pioneers product breakthroughs and enriching experiences and services that have invited people to discover the joy of being outdoors since our founding in 1954. Polaris' high-quality product line-up includes the RANGER, RZR and Polaris XPEDITION and GENERAL side-by-side off-road vehicles; Sportsman all-terrain off-road vehicles; military and commercial off-road vehicles; snowmobiles; Indian Motorcycle mid-size and heavyweight motorcycles; Slingshot moto-roadsters; Aixam quadricycles; Goupil electric vehicles; and pontoon and deck boats, including industry-leading Bennington pontoons. Polaris enhances the riding experience with a robust portfolio of parts, garments, and accessories. Headquartered in Minnesota, Polaris serves nearly 100 countries across the globe. Learn more at www.polaris.com.
SOURCE Sheffield Financial