ACE Cash Express

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ACE Cash Express, Inc.
TypePrivate
IndustryFinancial services
Founded1968
Headquarters
Irving, Texas
,
United States
Area served
United States
Websitewww.acecashexpress.com

ACE Cash Express, Inc. is a financial services provider headquartered in Irving, Texas. ACE serves customers in 24 states and the District of Columbia both online and through a network of stores. Founded in 1968, ACE provides a range of retail financial products and services including short-term consumer loans, check cashing, debit card services, money transfers, bill payments and money orders. ACE Cash Express is one of the largest owners and operators of check cashing stores in the United States. ACE serves consumers seeking alternatives to traditional banking relationships by providing convenient, immediate access to financial services.[citation needed]

History[]

The first store opened in Denver, Colorado in 1968. A local entrepreneur saw an opportunity with bank deregulation to offer basic financial services with a retail presentation that emphasized convenience and service. The concept was successful and more stores were opened in Colorado and other states. The growing chain came to the attention of The Associates: a diverse financial services company headquartered in Irving, Texas. The Associates acquired the stores and continued to expand. Subsequently, The Associates decided to divest the stores and a sale was made to an investor group led by a former Associates executive.[citation needed]

Associations[]

ACE Cash Express is a member of the Financial Service Centers of America (FiSCA), a national trade association that represents financial service providers across the country and establishes best practices standards for the industry. Additionally, ACE is a member of state industry associations across the country in areas where it does business.[citation needed]

Community impact[]

Established in 2004, the ACE Community Fund is ACE Cash Express’ corporate giving program which benefits organizations that help children, support education and promote financial literacy. Since inception, the ACE Community Fund has donated more than $11 million to charitable organizations throughout the nation. Through corporate donations, in-store fundraising campaigns and employee volunteering programs, the ACE Community Fund supports communities across the country.

Organizations supported by the ACE Community Fund include: Adopt A Classroom,[1] American Cancer Society, Autism Speaks,[2] Back on My Feet,[3] Big Brothers Big Sisters,[4] Boys & Girls Clubs,[5] Genesis Women’s Shelter, Junior Achievement,[6] MenzFit,[7] National Breast Cancer Foundation,[8] National Down Syndrome Society, American Red Cross.[9]

ACE has annual fundraising and volunteer programs including its Pink Month and Give A Little Campaign, which encourage customer and employee involvement.

Pink Month

Since 2006, ACE Cash Express has partnered with Netspend to host its annual Pink Month to raise funds and awareness for breast cancer. Through the 11-year partnership, over $5 million has been donated to the National Breast Cancer Foundation. Each October, a portion of each purchase made with the ACE Elite Pink Card and ACE Flare Pink Card up to $350,000 is donated to NBCF.

Give A Little Campaign

ACE’s annual in-store fundraising campaign, the Give A Little campaign, supports employee-selected charities by collecting donations to benefit a variety of organizations across the country.[citation needed]

Legal actions[]

On July 10, 2014, it was announced that ACE Cash Express had agreed to a $10 million cash settlement with the federal Consumer Financial Protection Bureau over abusive debt collection practices. ACE denied any wrongdoing.[10]

On November 5, 2015, the company entered into a settlement agreement with the California Department of Business Oversight to resolve allegations of violations of the California Deferred Deposit Transaction Law.[11]

References[]

  1. ^ "ACE Donates $29,293 to Teachers for School Supplies | ACE Cash Express". ACE Cash Express. Retrieved 2017-11-27.
  2. ^ "ACE Cash Express Supports Autism Speaks with $30,061 | ACE Cash Express". ACE Cash Express. Retrieved 2017-11-27.
  3. ^ "ACE Continues Support of Back on My Feet to Benefit the Los Angeles Homeless Population | ACE Cash Express". ACE Cash Express. Retrieved 2017-11-27.
  4. ^ "The Give A Little Campaign Oct. 2015 Big Brothers Big Sisters | ACE Cash Express". ACE Cash Express. Retrieved 2017-11-27.
  5. ^ "ACE Cash Express Supports Boys & Girls Clubs of San Antonio with $11,207 Donation".
  6. ^ "ACE Celebrates 10 Years of Supporting Junior Achievement of Dallas | ACE Cash Express". ACE Cash Express. Retrieved 2017-11-27.
  7. ^ "ACE Cash Express Continues to Support MenzFit".
  8. ^ "ACE Cash Express Supports Mission to Save Lives Through Early Detection of Breast Cancer | ACE Cash Express". ACE Cash Express. Retrieved 2017-11-27.
  9. ^ "ACE Donates over $87,000 to American Red Cross' Houston-Area Relief Efforts".
  10. ^ Douglas, Danielle (July 10, 2014). "Payday lender Ace Cash Express to pay $10 million over debt-collection practices". Washington Post. Retrieved 3 February 2018.
  11. ^ "ACE-Cash-Express-Inc.-Settlement-Agreement" (PDF). California Department of Business Oversight.

External links[]

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