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Financial Service Centers of New York (FSCNY),
formerly named Check Cashers Association of New York (CCANY), is the largest association of community
"Face-to-Face" cash access
outlets in New York. Our industry has been licensed
by The New York
State Banking Department since 1944. Throughout this period
we have
had an unimpeachable record of financial stability.
Since its inception in
1957, FSCNY is the leading voice on legislative,
regulatory and
business issues that affect its members and the rights of New Yorkers
to access basic financial services.
On May 11, 2004, at the annual FSCNY Conference and Vendor
Show, NYS Banking Superintendent Diana Taylor said,
"You provide such an
important service
to such a large, and often unbanked, segment of our
society."
Click for more on FSCNY:
Sam Gordon and Howard
Stein in 1957 wrote the by-laws of the the
Check Cashers Association of New
York (CCANY), the original name of the Association. In Article II the By-Laws states the Objectives and Purposes
of the Association. With all the changes over these 40 plus years,
Article II
still says it all -- even appropriate to a web site. If
this web site can further
the objectives stated here, it will be an
unqualified success.
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To foster business and
interests of check cashers licensed pursuant to the banking laws of
the state of New York.
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To receive and
disseminate among the members accurate and reliable information as
to matters of interest to licensed check cashers.
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To promote a more
enlarged and friendly intercourse among its members and others.
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To establish and
maintain standards of fair and efficient practices in the licensed
check cashing business with a view to promoting the common welfare
of its members.
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To advance and promote
the general public use and enjoyment of licensed check cashers by
means of research, pubic relations, advertisements, and similar
activities;
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To consider, propose,
and act upon legislation and legislative activities affecting the
industry;
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To garner for its
members the various benefits available to associations;
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To do and perform any
other and further acts which may be proper and lawful for the
accomplishment of the foregoing purposes or any of them.
If you would like information about
becoming a member call (212) 268-1911 or
click here to contact us.
THE CHECK CASHING INDUSTRY
IN NEW YORK
The Check Cashing Industry in New
York
An independent
study found that consumers use financial service centers because of their
convenient locations, longer hours of operation, excellent customer
service, reasonable fees and safe environment.
About 675 licensed check cashing centers
employing almost 4,500 New York residents
Approximately 32 million checks
cashed annually with a face value of nearly $15 billion
Created in 1944 and
regulated by the New York State Banking Department
Second lowest check cashing fee in the nation at 1.75%
Two-thirds of check cashing
customers have bank accounts and seek more convenient financial
services (source: Roper)
Primary service is cashing
of payroll, government and insurance checks
Other services include:
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Money and remittance orders
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Wire Transfers
- NetSpend prepaid debit and
credit card with link to All-Access National Savings account
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Payroll check cashing for municipal workers in City of New York
- Utility bill payments -- more than 6 million
electronic transactions annually
- Public transportation -- largest out-of-system
vendor of tokens and transit cards in New York City
- Ancillary products such as pre-paid telephone
calling card, notary public, postage, etc.
For
interviews, backgrounders and information, please contact:
Stephen Altobelli
MWW Group, Vice President
Direct Line: 201-964-2369
Alt. Phone: 201-507-9500
Email:
saltobelli@mww.com
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