Mike Bannister

Ford Motor Company has made tremendous progress in recent years, while maintaining a firm commitment to sustainable business principles and to leadership in areas such as fuel economy, emissions and recycling. As Ford’s global financial services business, Ford Motor Credit Company played an important role in Ford’s recovery, and we look forward to the exciting growth prospects on the road ahead.

We are proud that Ford Credit is a successful, consistently profitable business, paying significant dividends to Ford. These contributions help Ford improve its balance sheet and develop fuel-efficient, high-quality, exciting cars and trucks to meet its sustainability goals. For more than 50 years, Ford Credit has been a reliable source of support for Ford, our dealers and our customers during all economic cycles.

We are mindful of the legacy of Henry Ford, who wanted to help open the roads to all. With consistent and responsible financing for purchasing or leasing, we contribute to this legacy, especially in a time when access to a vehicle is crucial for so many people to work and manage daily life.

During the recent financial crisis, many banks curtailed auto financing. But Ford Credit stayed side by side with Ford and our dealers, helping them withstand the economic downturn. Many financial institutions abandoned customers with less-than-perfect credit. However, our proprietary risk management models enabled us to continue extending credit to individuals whom many others viewed as too great a risk.

As a finance company, Ford Credit is highly regulated, and in markets where we operate as a bank, additional regulations apply. The regulatory environment is changing around the world, and new requirements will affect us directly or indirectly. We pay strict attention to regulatory compliance, transparency and internal governance, which helps ensure our business efficiency, reassures investors who provide funding and contributes to the fair treatment of our customers.

Traditionally, most of our growth has been in North America and, like Ford, we are now expanding in key growth markets. For example, in China not only are we supporting the expanding Ford dealer network and consumer financing, but we also are working with authorities and financial institutions to contribute to the development of capital markets there.

On the environmental front, we work to reduce our environmental footprint through energy-efficiency improvements and electronic paperwork, including electronic contract approvals. We also are increasingly utilizing technology to make our business relationships with dealers and consumers more efficient, faster and more satisfactory.

We also monitor borrower compliance with environmental standards and regulations related to dealership facility construction and mortgage funding. Funding is advanced only after we know that final plans and specifications have been approved by the governing authority and all necessary permits have been obtained, including permits related to environmental requirements.

One area of our business that many people may not be familiar with is our insurance operation in North America, the American Road Insurance Company. When our dealers are struck by natural disasters, we help dealers restore their business operations and ensure that the damaged vehicles are properly disposed of and recycled.

Ford Credit has a strong “people” culture, and our employees show high job satisfaction year after year. Our employees are committed and engaged, and they are active supporters of deserving community and environmental causes.

As Ford grows its business, all of us at Ford Credit remain dedicated to a strong, sustainable, profitable financing business; exceptional dealer and customer satisfaction; performance that rewards our investors; and ensuring reliable support through all business cycles for Ford, our dealers and our customers.