QC Fast Facts

Founded in 1984 and headquartered in Overland Park, KS, QC Holdings provides short-term consumer loans or payday loans for middle-income, working individuals in the United States.

2,000 employees; 140 at the company's Overland Park headquarters
588 branch offices in 25 states as of March 31, 2007
2006 Revenue: $172.3 million (up from $152.9 million in 2005)

Customer Profile

All customers have checking accounts and jobs or steady incomes
25 percent have annual incomes of more than $50,000; 77 percent have annual incomes of more than $25,000
64 percent have children; 68 percent are under 45 years of age
94 percent have a high school diploma; 20 percent have a college degree

Products

Small, short-term loans averaging about $300 for two-week terms
Cost averages $15 per $100 borrowed
Check-cashing services, title loans, money transfers and money orders

Competitive Credit Products

$100 bounced check with $48 insufficient funds/merchant fees equals 1,251 percent APR
$100 credit card balance with $26 late fee equals 678 percent APR
$100 utility bill with $50 late/reconnect fees equals 1,304 percent APR

Industry

Approximately 23,000 locations nationally
More than 50,000 employees earning $2 billion per year
Served more than 15 million households in 2005
$40 billion in transaction volume generating $6 billion in fees
The Community Financial Services Association (CFSA) represents more than half of the industry and supports laws and regulations with substantive consumer protections

Regulation

Regulated in 37 states, up from six in 1996
Applicable Federal regulations include TILA (Truth In Lending Act), FCRA (Fair Credit Reporting Act), FDCPA (Fair Debt Collections Practices Act), Privacy or GLBA (Graham-Leach-Bliley Act), ECOA (Equal Credit Opportunity Act), BSA/AML (Bank Secrecy Act/Anti-Money Laundering), OFAC (Office of Foreign Assets Control)