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March 8, 2013 /PRNewswire/ - The Cash Store Financial Services Inc. ("Cash Store Financial") (TSX:CSF) (NYSE:CSFS) is announcing today that the response to its roll-out of a suite of line of credit products in
Ontario has been positive. These line of credit products, first introduced in
February 1, are designed to better serve under-banked consumers through flexible, medium-term credit products that help consumers to build a credit history and move toward lower cost mainstream credit.
The Company reports that consumer acceptance of these products has been strong, and that since
February 1, 2013 its loan volumes, loan fees and total revenue in
Ontario and all other Canadian jurisdictions have been generally consistent with such performance during the same period in 2012.
The Company also offers its line of credit products in
About Cash Store Financial
Cash Store Financial is the only lender and broker of short‐term advances and provider of other financial services in
Canada that is listed on the Toronto Stock Exchange (TSX: CSF). Cash Store Financial also trades on the New York Stock Exchange (NYSE: CSFS). Cash Store Financial operates 511 branches across
Canada under the banners "Cash Store Financial", "Instaloans" and "The Title Store". Cash Store Financial also operates 25 branches in the
Cash Store Financial and Instaloans primarily act as lenders and brokers to facilitate short-term advances and provide other financial services to income-earning consumers who may not be able to obtain them from traditional banks. Cash Store Financial also provides a private-label debit card (the "Freedom" card) and a prepaid credit card (the "Freedom MasterCard") as well as other financial services, including bank accounts.