Hello.
There are an estimated 11,000 to 13,000 check cashing stores in the
U.S. The business is growing 15-20% per year. The industry has
reportedly grown more than 860 percent since 1986.
sources:
From Financial Service Centers of America (FiSCA), a professional
trade organization that represents the check cashing industry:
"The profession in the U.S. is composed of approximately 11,000
neighborhood financial services centers, which cash upwards of 180
million checks annually with an aggregate face value of more than $55
billion."
http://www.fisca.org/about.htm
"The US Check Cashing, Money Transfer, and Payday Loan Industry (Report)
...booming business growing 15-20% per year. There are 13,000 check
cashing outlets, 14,000 pawn shops, 10,000 payday loan stores and
154,000+ money transfer agents competing for this business today."
source: CMS Info
http://www.biz-lib.com/ZMTCC.html
"The non-bank financial services sector is booming. In 1986, there
were 1,350 check-cashing outlets in the U.S. In March 2002, there were
13,000 according to the Annie E. Casey Foundation (AECF)?an increase
of more than 860 percent."
source: "Nickels, Dimes and Big Bucks" by Caitlin Johnson
January 12, 2004
http://www.connectforkids.org/resources3139/resources_show.htm?attrib_id=374&doc_id=202855
"...entire industry of "money services" with revenue exceeding $45
Billion in 2002, and growing at a rate of 600% since 1986. While there
is no universal definition of these services, they are generally
referred to as "fringe banking". Among the most popular of these
services are payday lending and check cashing.
...NO SAVINGS opportunities exist. NONE of the 12,000+ check cashing
outlets offer a way to set aside money."
source: KXAN TV: Payday Lending / Checkcashing
http://www.kxan.com/Global/story.asp?S=1766424&nav=65t0M8Qm
"Check cashing is a growing and profitable business; the number of
check-cashing outlets more than doubled from the mid-1980s to the
early 1990s."
source: AARP
http://research.aarp.org/consume/d16910_check_cash_1.html
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search strategy:
"check cashing * in the"
"number of check cashing"
"Financial Service Centers of America"
I hope this helps. |
