About Financial Service Centers of Mississippi
Financial Service Centers of Mississippi (FSCM) is a professional trade organization representing an expanding industry of financial services providers in local communities across Mississippi. FSCM was originally established in 1992 as the Mississippi Check Cashers Association, changing its name in 2002 to reflect the evolution of the industry.
Financial service centers offer a wide array of basic financial services, including check cashing, money transfers, money orders, bill payments and small dollar loans such as payday advances, title loans, and installment loans to those who choose not to use more traditional financial institutions or who cannot meet the requirements imposed by financial institutions to maintain an account. Additionally, those living paycheck to paycheck need immediate access to their money and literally cannot afford to wait for a check to clear the banking system. Financial service centers provide the instant liquidity these individuals require.
Consumers appreciate the range of “pay as you go” services available from FSCM members, especially because they know there will be no hidden fees or back-end charges associated with their transactions. These consumers place a very high value on the peace of mind, flexibility and convenience offered by financial service centers.
At the beginning of 2018, FSCM membership represented hundreds of licensed location throughout the state. We also have a number of associate members that include vendors and friends of the industry.
Association members generally benefit in two ways. First, members continue to learn about the industry. This includes current events, legislative activity, and good business management. The second benefit is learning how to serve our customers better. This includes educating customers, training staff well, and offering a product that is wanted and needed by customers.