HISTORY......

The short term lending industry has been a resource for working families for more than 10 years. Prior to the passing of legislation that provided regulations for cash advances, small short-term loans were only available through unregulated back-door operations. Today, close to 2,000 storefronts in the state of Alabama offer short term loans which are carefully regulated and audited through the State Banking Department.

Though the services we provide are clearly needed and appreciated by our customers, short term lenders have come under attack in recent years by consumer groups who are concerned that simple, convenient cash loans most certainly lead to dangerous over-borrowing by consumers.

With this in mind, a group of lenders came together in 2007 to begin to take steps to ensure that our customers are well educated about their lending options. The goal of the Council for Fair Lending and the Borrow Smart Alabama program is to work with customers to make sure our services are a part of the solution and not a part of the problem. The program includes in-store messaging, employee training, and proactive financial literacy education. It also includes a Code of Fair Lending to which all member stores have committed in order to self regulate our stores.

We hope our efforts to protect and educate customers will also help ensure that our service remains a carefully regulated and available option to the many thousands of people who use our loans wisely every single day to improve their lives.