Cash America 2011 Annual Report Download - page 19
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13
item at any point during the loan
period – or the customer may choose
to transfer the property as payment in
full, with no negative effects on personal
credit scores. Cash America offers pawn
loans on a variety of items, including
gold and diamond jewelry, electronics,
musical instruments, power tools and
more. According to industry gures,
more than 25 million Americans annually
use pawn services, and the average loan
is very small, at $125.
Myths about the pawn industry
and the underbanked public
abound, and most assumptions
about pawn customers are equally
erroneous and unfounded. People
from all economic groups and all walks
of life need extra cash from time to
time. Today’s customers are educated,
hard-working people who care about
maintaining credit scores and making
responsible decisions – and many of
them have few options without the help
of our products and services.
Our customers are armed with
accurate product information when they
choose a Cash America loan product.
They know that Cash America’s small,
short-term loans provide lower-cost
alternatives to increasingly high bank
fees, NSF charges, late fees on credit
cards, and penalties on delinquent
At Cash America, we know that our customers depend on us as a community
resource that provides a short-term solution to an immediate nancial need. Our
customers represent the backbone of America’s middle class – and sometimes they
face an unexpected need for short-term credit. In those cases, our products and
services keep them going even when other institutions turn their backs. In fact,
traditional lending institutions have all but abandoned many of our customers, but
Cash America’s depth of expertise in meeting the needs of the underbanked gives us
the opportunity to offer effective options. This purpose is the reason our company
exists, and we are committed to excellence in fullling this purpose.
accounts from utility companies
or mortgage lenders. And they
keep coming back because
they know we’re reliable,
convenient and committed to
offering the products that best meet
their needs.
Cash America’s traditional pawn
loan has always been a quick and easy
option. A customer’s short-term cash
need can be met with no credit check
or legal consequences if the loan is not
repaid – simply put, it’s a collateralized
loan. The customer offers an item of
personal property in exchange for a
small, short-term loan.
Within minutes, the customer
receives a loan based on the property’s
expected resale value. The customer
may return and pay the loan balance,
fees and service charges to reclaim the
Committed to
excellence for our
customers
CASH AMERICA INTERNATIONAL, INC.