Moneytree

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Moneytree, Inc. is a retail financial services business, headquartered in Seattle, Washington with branches in Washington, Idaho, California, Nevada, and Colorado. Moneytree was founded by Dennis, David and Sara Bassford, in 1983. Moneytree is a family owned business that is one of Washington's largest privately-held companies.

Founding Mission: Moneytree's Mission is to: "Be the best provider of retail financial services by exceeding customers' expectations, creating a professional work environment, and giving back to its communities." [1] Moneytree employs approximately 1,200 people company-wide. Moneytree has been listed as one of Washington's Best Companies to Work by the Washington CEO Magazine's Best Companies To Work For Annual Survey[2] and on the Puget Sound Business Journal's "Washington Best Workplaces" list.[3] Moneytree has also consistently been named as one of Washington's Most Philanthropic Companies by the Puget Sound Business Journal.

History: Moneytree was originally a check cashing business. In 1995, the Washington Legislature authorized payday lending, at which time Moneytree added small denomination, short-term loans, commonly referred to as "payday loans," to its product offering. Today, Moneytree offers payday loans, check cashing, money orders, wire transfers and other financial services. Payday loans are regulated in each of the states in which Moneytree operates. Rates are limited by statute in Washington, California and Colorado. Rates are established by market forces in Idaho and Nevada. Nationally, payday loan rates average around $15 per $100 borrowed or 15%.

Trade Association Membership; Best Practice Guidelines: Moneytree is a member of the Community Financial Services Association, the Washington Financial Services Association and the California Financial Service Providers Association. Moneytree adheres to industry Best Practices that include a mandatory repayment plan; no-cost, 24 hour right to rescind a payday loan transaction; truthful advertising; transparent disclosures and legal and fair collection practices. Moneytree provides the following customer notice on all payday loan advertising: "Payday loans are intended to and should be used for short-term financial needs only, not as long-term financial solutions. Customers with credit difficulties should seek credit counseling."


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