Consumer Credit Counseling Service of Seattle/Oregonand Fast Cash Loans Team Up for Consumer...

SEATTLE--(BUSINESS WIRE)--Aug. 31, 1999--

In a strategic alliance that's believed to be the first of its kind in the nation, Consumer Credit Counseling Service (CCCS) of Seattle has joined with Fast Cash Loans (FCL) to help educate consumers on how to deal with their debts and to manage

The strategic alliance announcement coincides with recent U.S. Department of Commerce reports that the nation's savings rate is at a record low, with spending rising faster than incomes.

Under the alliance, FCL branches will make available through CCCS financial education, planning and counseling services to its customers free of charge. Consumer Education is the first joint initiative between CCCS and FCL. The two companies are currently exploring other mutually beneficial client initiatives.

"When Mike Alderson and I compared notes, we found that there is a strong overlap in our client demographics," said Mike Humphries, Chief Executive Officer, PFH, Inc. d.b.a. Fast Cash Loans. "We determined that an alliance of our services would better meet our respective clients' needs. Despite our successful regional economy and strong capital markets, there is a growing number of people who are not sharing in the wealth that's being created; many have a limited capacity to save for emergencies, and when the unexpected happens, people need money quickly and simply."

"Fast Cash Loans has a unique service approach, differentiating itself from other cash advance lenders. FCL's philosophy and caring spirit for their clients and the community makes this an excellent corporate alliance fit," said Mike Alderson, President & Chief Executive Officer of CCCS of Seattle.

"We have a robust economy, but there are troubling signs on the horizon. Many Americans are falling deeper and deeper into debt, especially young people in their late 20s and early 30s. We are extremely pleased to have additional outlets for providing access to our educational materials, workshops and counseling services through Fast Cash Loans branches, as we see a growing need for education," added Alderson.

Currently CCCS services include confidential financial counseling with a certified counselor. The company also provides free workshops on such topics as: "Manage Your Money," "Credit: Using It, Losing It" and "Master Your Money." Other services include confidential financial counseling with a certified counselor.