News

CashWorks adding 430 Kum & Go locations

February 16, 2005

DALLAS - CashWorks, Inc., a GE Consumer Finance company and provider of automated check-cashing and prepaid solutions, has reached an agreement to roll out its proprietary system to 430 Kum & Go Convenience Stores in 13 Midwestern and Western states.

According to a news release, the addition of the Kum & Go chain has pushed the number of CashWorks locations to more than 3,500.

The new Kum & Go CashWorks locations are in Iowa, Kansas, Minnesota, Missouri, Montana, Nebraska, North Dakota, Oklahoma, South Dakota, Colorado, Arkansas, Wyoming, and Wisconsin.

CashWorks recently obtained approval from the Office of Thrift Supervision to operate in all 50 states. According to the release, the company experienced strong regional growth in California, Texas, Louisiana, and Florida in 2004. 

"We are continually looking for innovative products and services that improve our customer experience," said W.A. Krause, , Kum & Go's founder and chief executive.  "Our relationship with CashWorks brings added convenience to our number one priority…our customer." 

The CashWorks program provides the ability to quickly approve new customers for check-cashing and bill payment. Kiosks provide users with step-by-step instructions, while CashWorks' proprietary Central Decision Engine can quickly approve transactions for first-time users.  Once a customer is enrolled, transactions typically take less than a minute.   

According to research conducted by CashWorks, 81 percent of consumers using the service for the first time say they will return to the same location to cash checks in the future - and more than 60 percent of users are repeat customers.