Community Choice Financial Inc. (CCFI) is a consumer financial services company headquartered in Dublin, Ohio, that operates a large network of retail storefronts offering payday loans, check cashing, title loans, and other short-term lending products. The company runs under several brand names, including CheckSmart, Buckeye Check Cashing, and California Check Cashing Stores, with subsidiaries spread across more than 20 states. It is not a bank or credit union. Instead, it falls into the category of “alternative financial services,” serving customers who either can’t access or choose not to use traditional banking.
What the Company Does
CCFI’s core business centers on small-dollar, short-term loans and related financial services aimed at consumers who need cash quickly. Its storefronts typically offer payday loans (small amounts borrowed against a future paycheck), installment loans (repaid over multiple payments), title loans (secured by a vehicle’s title), and check cashing services. Some locations also handle money orders and prepaid debit cards.
These services cater to people who may not qualify for conventional bank loans or credit cards, often because of low credit scores, thin credit histories, or an immediate need for cash that traditional lenders can’t meet on short notice. The tradeoff is cost: payday and title loans carry annual percentage rates that can run into the triple digits, far higher than what banks or credit unions charge.
Brand Names and Corporate Structure
You may have encountered CCFI without realizing it. The company operates through dozens of subsidiaries under names like CheckSmart Financial, Buckeye Check Cashing (with state-specific versions for Arizona, California, Florida, Kentucky, Michigan, Tennessee, Texas, and Virginia), California Check Cashing Stores, QC Financial Services, Cash Central, Direct Financial Solutions, and Insight Capital. Many of these subsidiaries are organized in Delaware or Ohio regardless of where they do business.
The parent company, Community Choice Financial Inc., sits atop a web of holding companies and operating entities. SEC filings list more than 60 subsidiaries. This kind of layered corporate structure is common in the alternative lending industry, where each state has different licensing requirements and lending rules.
Regulatory History
Like most companies in the payday lending space, CCFI has faced ongoing regulatory scrutiny. The Consumer Financial Protection Bureau (CFPB) conducted its first examination of the company in April 2012 and issued a report in October 2013. CCFI made adjustments to its compliance procedures in response but did not materially change how it does business.
The company has also fielded information requests from state attorneys general and financial regulators regarding its lending and debt collection practices. In its own SEC filings, CCFI acknowledged that such inquiries could escalate into formal investigations or enforcement actions, potentially resulting in fines or the loss of its license to operate in certain states. The company used mandatory arbitration clauses in its contracts, which meant that many lawsuits, including those filed as class actions, were redirected into individual arbitration rather than proceeding through the courts.
Customer Experience
CCFI holds an A+ rating from the Better Business Bureau, but its customer review average tells a different story: 1.5 out of 5 stars across 130 reviews. That gap exists because the BBB’s letter grade measures whether a company responds to complaints, not whether customers are satisfied.
The most common complaints involve difficulty making payments online or by phone, with some customers reporting they were required to visit a store in person. Others describe vehicles being repossessed despite having made payments or having arrangements with staff. Unauthorized withdrawals from bank accounts, conflicting information from employees, and system outages that blocked loan processing also appear frequently. On the positive side, some reviewers praise individual staff members for being patient and respectful, and note that transactions were completed quickly.
How It Differs From a Credit Union
If your search brought up results for Community Choice Credit Union, that is a completely separate organization. Community Choice Credit Union is a member-owned, not-for-profit financial institution based in Michigan that offers traditional banking products like checking accounts, auto loans, mortgages, home equity lines of credit, and credit cards at competitive rates. Its auto loan rates, for example, start under 6% APR, and its credit cards carry APRs between roughly 12% and 17%.
Community Choice Financial Inc., by contrast, is a for-profit lending company focused on high-cost, short-term products. The two share part of a name but have no corporate relationship and serve very different markets. If you’re looking for a low-cost checking account or a conventional loan, you want the credit union. If you’ve seen a CheckSmart or Buckeye Check Cashing storefront and want to know who’s behind it, that’s CCFI.
What to Know Before Borrowing
Short-term loans from companies like CCFI can solve an immediate cash crunch, but they come with significant costs. Payday loans typically charge fees that translate to APRs of 300% or more when annualized. Title loans put your vehicle at risk if you can’t repay. Installment loans from alternative lenders carry rates well above what banks, credit unions, or even most credit cards charge.
If you’re considering borrowing from a CCFI storefront, compare the total repayment amount (not just the fee per $100 borrowed) against other options: a credit union personal loan, a credit card cash advance, borrowing from family, or negotiating a payment plan with whoever you owe. Many credit unions offer small-dollar “payday alternative loans” with APRs capped at 28%, specifically designed to compete with storefront lenders. Checking whether you qualify for one of those before walking into a CheckSmart could save you hundreds of dollars in interest.