Check Into Cash

Check Into Cash
Privately Held Company
Industry Financial Services
Founded 1993
Area served
 USA, UK
Key people

W. Allan Jones
(Chairman/CEO)

Steve Scoggins
(President/COO)
Website www.checkintocash.com

Check Into Cash is a financial services retailer with more than 1,100 stores in 30 states.[1][2] The company was founded in 1993 by W. Allan Jones in Cleveland, Tennessee, where the headquarters are located today.[1]

The firm offers payday loans, online payday advances, title loans, bill payment services, check cashing, reloadable prepaid debit cards, and Western Union money transfers and money order services.[3]

History

Check Into Cash store

Jones founded Check Into Cash in 1993. He has been referred to as "the father of the payday lending industry" for creating the first national payday lending chain.[2][4] In 1973, at age 20, he left college, where he had been pursuing a business degree, to help stabilize the family’s business, the Credit Bureau of Cleveland (TN). He purchased the reporting and debt collection business in 1977 and built it into one of the largest credit bureau databases in Tennessee.[1] He sold the credit reporting side of the business to Equifax in 1988, retaining the name and collection agency division. He then built the company to be the largest in the state, and sold it in 1998.[1]

Check Into Cash has grown to become one of the second largest payday loan company in the US and was planning to expand on its existing 1,300 locations.[4]

In 2012, The firm acquired Cash and Cheque Express, a consumer financial services chain in the United Kingdom.[5] In 2013, the firm acquired Great American Pawn and Title and Quic!oans, both based in Georgia, plus Great American Cash Advance and Nations Quick Cash Title Pawn, which operate in Mississippi, Alabama and Tennessee.[6] Check Into Cash has also acquired Title First Title Pawn, which is based in Georgia.[7]

Other organizations

Check Into Cash is a founding member of the Community Financial Services Association of America, which sets best practices standards for its members in the payday advance industry.[8] The firm has affiliate companies that operate under these brand names:[9]

See also

References

  1. 1 2 3 4 "Check Into Cash Reaches 20th Milestone - 06/28/2013 - Chattanoogan.com". chattanoogan.com. Retrieved 2014-03-16.
  2. 1 2 "Payday lenders fear federal regulations | Times Free Press". timesfreepress.com. Retrieved 2014-03-16.
  3. ↑ "CHEK Profile & Executives - Check Into Cash Inc - Bloomberg". bloomberg.com. Retrieved 2014-03-16.
  4. 1 2 "Usury Country | Harper's Magazine". harpers.org. Retrieved 2014-03-16.
  5. ↑ "Cleveland Daily Banner - CIC buys overseas business". clevelandbanner.com. Retrieved 2014-03-16.
  6. ↑ "Check Into Cash expanding pawnshop reach in metro Atlanta | www.myajc.com". myajc.com. Retrieved 2014-03-16.
  7. ↑ "Cleveland Daily Banner - Check Into Cash Title Pawn acquires Georgia locations". clevelandbanner.com. Retrieved 2014-03-16.
  8. ↑ "CFSA > About CFSA". cfsaa.com. Retrieved 2014-03-16.
  9. ↑ "Our Companies". jonesmanagement.com. Retrieved 2014-03-16.

External links

This article is issued from Wikipedia - version of the Thursday, March 31, 2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.