Check Into Cash Exceeds $100 Million in Volume

Check into Cash, a national leader in specialty consumer financial services, has exceeded $100 million in checks cashed already this year.

“Check cashing naturally fits into Check Into Cash’s existing corporate footprint and allows us to use infrastructure already in place to meet a growing demand of our customers."- Check Into Cash President Steve Scoggins.

Cleveland, TN (PRWEB) February 10, 2010 -- Check into Cash, a national leader in specialty consumer financial services, has exceeded $100 million in checks cashed already this year.

Check Into Cash has cashed $114 million in checks in the first six weeks of 2010, putting the company on pace to exceed last year’s total of $450 million in checks cashed.

Check cashing is a growing segment of Check Into Cash’s financial product portfolio, with nearly 1,000 Check Into Cash locations in 30 states now offering the service. Check Into Cash cashes all types of checks, including tax refund, refund anticipation, payroll, government, insurance and personal checks.

Check Into Cash, known largely for being a pioneer of payday advance, began experimenting with check cashing two years ago and fully launched the service one year ago.

“Check cashing naturally fits into Check Into Cash’s existing corporate footprint and allows us to use infrastructure already in place to meet a growing demand of our customers,” said Check Into Cash President Steve Scoggins. “Adding check cashing, along with other services such as Western Union, automated bill pay and money orders, allows us to achieve our goal of being a full-service financial center that truly makes Check Into Cash a one-stop money shop.”

Reaching the $100 million threshold this early in the year shows the overwhelming demand for the service, Scoggins said. Check Into Cash expects even more growth as the check cashing business is buoyed by an influx in income tax refund checks through the April 15 filing deadline.

Check Into Cash, a privately-held company based in Cleveland, Tenn., is also expanding its loan service portfolio to include revolving credit loans, traditional installment loans, pawn lending, title lending and other products to meet the evolving regulatory landscape in certain states.

“The goal of Check Into Cash is to meet the needs of our customers in a fair, transparent manner and we will continue to explore new business models such as check cashing to meet those needs,” Scoggins said.

About Check Into Cash:
Founded in Cleveland, Tennessee in 1993, Check Into Cash is a specialty consumer financial services company with a core product of payday advance. Check Into Cash operates more than 1,150 branch locations in 30 states and is the founding member of the Community Financial Services Association of America (CFSA) and a leader in industry best practices. Check Into Cash offers a full suite of financial service products which include check cashing services, bill payment, wire transfer, money orders, reloadable prepaid debit cards, gift cards, title lending and ATM access in select locations. For more information, visit www.checkintocash.com.

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[Via Legal / Law]

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