16 STUDENTS AWARDED $43,500 IN SCHOLARSHIPS AT THE FINANCIAL SERVICE CENTERS OF NEW YORK'S 18TH ANNUAL CONFERENCE

Since Inception of the FSCNY/MoneyGram International Scholarship Program in 1996, $511,500 Has Been Awarded to 236 Students NYC Councilman Mathieu Eugene Presented with Check for $300,000 Raised from the State’s Check Cashers and Matched by Western Union Foundation to be Used for Haiti Relief

BROOKLYN, NY, May 11, 2010 --The Financial Service Centers of New York (FSCNY) today held its Eighteenth Annual Conference & Exposition at which it announced its annual scholarship award winners. The FSCNY/MoneyGram International Scholarship Program recognizes New York City area high school students for their academic achievements and community service. This year, 16 students received scholarships with a total value of $43,500; the grand prize was $7,500. Since the program’s inception in 1996, the FSCNY college scholarship program has helped 236 deserving students attend Ivy League and other selective universities and colleges. In total, $511,500 in college scholarships has been awarded.

The all-day Annual Conference included an address by Jonathan Mintz, Commissioner, New York City Department of Consumer Affairs, a panel discussion on the role of alternative financial service providers in serving the underbanked & unbanked, and a vendor showcase featuring more than forty industry vendors with their latest products and services.

The conference highlight was the luncheon. First, U.S. Congresswoman Carolyn Maloney (D-NY) addressed the attendees. Then New York City Councilman Mathieu Eugene took part in a check presentation at which representatives of FSCNY and the Western Union Foundation gave Eugene a check for almost $300,000 for Haiti relief. The funds will be forwarded to Mercy Corps. Almost $150,000 of that amount was raised from check cashers throughout the state which was then matched by the Western Union Foundation.

Sanford Herman, Chairman of FSCNY’s Scholarship Committee then presented the winners of the 2010 scholarships. Now in its 15^th year, FSCNY awards one-time cash grants to New York State high school seniors who meet the following selection criteria:

• Commitment to community service

• Perseverance in the face of significant obstacles

• Display leadership skills in school

• Academic achievement

“FSCNY members believe that education is the key to success,” said Herman. “FSCNY members find themselves in a fortunate situation to be able to assist intelligent, hard working students reach their dreams of going to college. We honor them and wish them luck in their future endeavors.”

Winners of the 2010 FSCNY/MoneyGram International scholarships include:

  Name                                City                              High School

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. The New York check cashing industry consists of approximately 700 check cashing locations, which employ nearly 4,000 New York residents. The industry annually cashes more than 30 million checks with a face value of nearly $15 billion. New York has the second-lowest check cashing fee in the nation at 1.83%.

Winners of the 2010 FSCNY MoneyGram International
Scholarship Program. A total of $43,500 was awarded in 2010