Cash America 2006 Annual Report Download - page 11

With 720 lending locations offering
cash advances, Cash America provides
fast and convenient solutions to satisfy
our customers’ needs for short-term loans.
The needs for cash advances are as
varied as the people who use them. Our
customers are the teachers, road workers,
medical technicians, waitresses, students
and bank tellers who are America’s
backbone. These are the people who
have come to know Cash America as a
resource in their community and in their
lives. People choose cash advances to
pay for items such as car repairs, unusually
high utility bills, unexpected medical
expenses, college books and other short-
term needs. With this tool, we’re providing
a financial bridge to their next payday.
It’s designed as a short-term solution to an
immediate problem. We encourage our
customers to seek other solutions for their
longer-term financial needs.
These are also the people who
traditional banking institutions have, in
many ways, ignored. Our typical customer
has limited access to many financial
options, even as our economy strengthens
and expands. These are hardworking
Americans, busy pursuing their dreams.
In 2006, Cash America funded
$1.2 billion in cash advances — up
from $930 million in 2005. Loan sizes
range from $100 to $1,500. As with
our traditional pawn business, Cash
America leads the way in defining and
implementing the industry standard of “fair
practices” in an effort to make the cash
advance product as fair and beneficial to
our customers as possible.
Cash America International, Inc.
9
Online access expands the
universe of possibilities.
An additional avenue for accessing
cash was made available to our customers
with the purchase in September 2006
of CashNetUSA, a leading provider
of online cash advances. Through
CashNetUSA, customers in 29 states
can arrange cash
advances via the
Internet. With
its proprietary
software and
delivery platform,
CashNetUSA
has served over
320,000 new
customers since
its inception in 2004. Clearly, many
people prefer this convenient, proven
and accepted method for obtaining the
funds they need. Adding CashNetUSA
to our team is another example of
Cash America’s effort to use the latest
technology and innovations to provide
solutions for our customers.
$0
$200
$400
$600
$800
$1,000
$1,200
Cash advances written* (in millions)
$1,177
02 03 04 05 06
Online access.
* Includes amounts extended by
third parties.