financial service centers of america

Financial Service Centers of America (FiSCA) is a professional trade organization representing an expanding industry of financial services providers in local communities across the country. FiSCA was originally established in 1987 as the National Check Cashers Association, changing its name in 2000 to reflect the evolution of the business. Financial service centers offer a wide array of basic financial services, including check cashing, money transfers, money orders, bill payments and small dollar loans such as payday advances, to millions of Americans who choose not to use financial institutions or who cannot meet the requirements imposed by financial institutions to maintain an account. Additionally, those living paycheck to paycheck need immediate access to their money and literally cannot afford to wait for a check to clear the banking system. FSCs provide the instant liquidity these individuals require. Consumers appreciate the range of pay as you go services available from FiSCA members, especially because they know there will be no hidden fees or back end charges associated with their transactions. These consumers place a very high value on the peace of mind, flexibility and convenience offered by financial service centers. The industry in the U.S. is composed of approximately 13,000 neighborhood financial service centers, which conduct more than 350 million transactions each year, providing an estimated $106 billion in various products and services to an estimated 30 million customers. In recent years, as a broader spectrum of consumers have sought increased financial service convenience, including flexibility of hours and faster delivery of financial services, community-based financial service centers have proliferated.