Cash America 2007 Annual Report Download - page 11

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Advances in customer diversity
The teacher, the medical technician, the student and the
musician are all potential Cash America customers. That
may not surprise you, but what may is the fact that these
customers are armed with facts and understand their
alternatives when they choose a Cash America
loan product.
They know that Cash America is a community resource
that provides a financial bridge to their next payday – a
short-term solution to an immediate problem. They also
care about maintaining good credit scores and other
indicators of financial responsibility.
Traditional lending institutions have all but ignored many
of our customers, leaving them with limited access to
financial options. In fact, data indicate that up to
10 percent of American families are not
served by banks. But many customers are
actively choosing Cash America over
traditional banks or credit cards because of
our ability to provide a lower-cost alternative in
a time of need. As the public becomes more
educated about the favorable cost comparison
of Cash America services, we’re able
to serve a larger and more
diverse clientele.
Offering small, short-term loans gives customers a lower-
cost option to high penalties or late fees because of the
inability to get cash when they need it. These advances are
preferable to increasingly high bank fees, NSF charges, late
fees on credit cards, and penalty charges and fees on
delinquent accounts from utility companies or mortgage
lenders. Our loans range from a few weeks to a few months,
giving customers the ability to tailor financial solutions that
are right for them.
And they know it. Today’s Cash America customer has
advanced to a savvy guardian of the household budget who
wants the fastest, lowest-cost option when an unexpected
need for cash arises. Our customers keep coming back
because they know
we’re convenient and
reliable, and that we
constantly adapt to best
understand and meet
their needs.
Cash America International, Inc. 9
Orville and Wilbur had no idea what
they were pioneering with that first
successful flying machine. Aeronautical
engineers have continued to advance
their technology, forging a path through
the solar system into worlds unknown. In
that spirit, Cash America forges ahead to
seek new markets and opportunities for
growth, benefiting customers, employees
and shareholders.
Pawn Lending Collateral/Merchandise Mix
(as of December 31, 2007)
62% Jewelry
15% Electronics
13% Musical
Instruments/Other
10% Tools
$0
$500
$1,000
$1,500
$2,000
$2,500
03 04 05 06 07
Total Cash Advances Written
(in millions, as of December 31)
$0
$100
$200
$300
$400
$500
$600
03 04 05 06 07
Total Pawn Loans Written
and Renewed
(in millions, as of December 31)
Transportation
Advances