FSCNY MOBILIZES NEW YORK'S CHECK CASHING INDUSTRY TO RAISE FUNDS FOR HAITIAN RELIEF EFFORTS

Direct Contributions, In Store Fundraising Commences to Raise Needed Funds

NEW YORK, NY, January 15, 2010 -- Following Haiti’s devastating earthquake on January 12th, Financial Service Centers of New York (FSCNY) is moving aggressively to organize the state’s entire industry, including more than 787 stores, to raise funds to help with the relief and recovery effort. Starting on Friday, funds are being collected at check cashing locations throughout New York State. FSCNY is making available in-store promotional materials and is coordinating the industry’s overall effort. It has established a FSCNY Haiti Relief Fund for this purpose, and all funds collected by check cashers will then be forwarded to Save the Children and Mercy Corps.

All licensed check cashing locations have been asked to set up in-store donation centers where customers, employees and their families can make direct donations while conducting their business. In addition, all owners and operators have also been asked to donate $200 per store to the emergency fundraising effort.

“New York’s check cashing companies have always taken pride in being of and for the local communities we serve,” explained Jason Carballo, President of FSCNY. “With more than 150,000 Haitian immigrants living in New York City, the tragedy has hit close to home for many of us. In addition, we all have customers who want to help in any way they can. New York check cashers have always been philanthropically oriented and this is one reason why we are being so active in the relief effort.”

Two of FSCNY’s largest partners, Western Union and MoneyGram, also are supporting this effort. Funds raised at check cashers that also serve as agents for Western Union will have their donations matched by the Western Union Foundation. MoneyGram is offering one-dollar money transfers to Haiti and free money transfers for donations to the American Red Cross.

About FSCNY

The Financial Service Centers of New York is the industry’s leading voice on legislative, regulatory and business issues and the leading advocate for the rights of consumers to access basic financial services in New York. FSCNY represents approximately 660 check cashing centers, which employ nearly 4,000 New York residents. FSCNY members annually cash more than 30 million checks with a face value in excess of $16.76 billion. New York has the second-lowest check cashing fee in the nation at 1.82%.