UNIFORM EFFORT TO DRESS CITY SCHOOLCHILDREN MARKS FOURTH YEAR FOR NEW YORK’S CHECK CASHERS

NEW YORK, NY, October 23, 2001 -- Parents who cannot afford to pay for public school uniforms now mandated for pre-kindergarten through sixth grade students by the New York City Board of Education, will continue to receive financial assistance from a special fund created by the Check Cashers Association of New York (CCANY).

New York’s check cashing community was among the first to endorse the program in 1998 when it was proposed and continues to support it, now in its fourth year, with the assistance of Western Union Financial Services, Inc.

The joint fund has promised $65,000 this academic year. When this is realized over $250,000 will have been promised and delivered to the New York City Public Schools System to date.

“This is a special year for our city, our constituents and our members,” said William Siegel, CCANY’s uniform fund chairman and a director.  “New York has been through a lot and a number of the youngsters who will benefit from the program, have been through much more.  Some lost a parent, a friend or a friendly face.  We can only hope that our efforts help a little.”

Mr. Siegel added that the Board of Education administers the selection process to determine which students will qualify for this financial aid.

“We are doing our part to help ensure that our city’s youngsters look smart while learning. Together with our highly successful scholarship program now in its seventh year, we are truly giving back to the communities we serve.”

About the Check Cashers Association of New York

CCANY (www.ccanyinc.org) represents over 550 licensed check cashing stores in the Empire State.  New York’s check cashers employ ever 4,000 residents statewide and cash checks with a face value nearing $14 billion.  The maximum check cashing fee, regulated by the New York Department of Banking, is 1.4% of the face value -- the lowest rate in the nation.  Check cashers also offer payment of utility bills, sale of MetroCards (the second largest purveyor after the MTA), pre-paid telephone cards, postage, money orders, wire remittances and cash advances, to cite a few of the many financial services available.

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Note:  Prior to May 2004, the Financial Service Centers of New York (FSCNY) was named the Check Cashers Association of New York (CCANY). Consequently, press releases and articles during that time period reflect the organization's CCANY name.