CFSA, LLC

What CFSA, LLC does

CFSA (Community Financial Services Association of America), founded in 1999 and headquartered in Alexandria, Virginia, is a national trade association representing non-bank lenders that offer small-dollar credit products and related consumer financial services. Its member companies collectively represent more than half of all traditional small-dollar loan storefronts in 30+ states and serve approximately 19 million households. The association operates with a small staff of 1-10 employees and is led by CEO Dennis Shaul and Chairman D. Lynn DeVault.

The association's core deliverables are industry representation, regulatory advocacy, and a formalized Best Practices compliance framework that members must adhere to. Membership is conditional on holding appropriate state licenses and complying with CFSA standards, which were modernized in July 2018 to cover all small-dollar loan products. CFSA also provides litigation support, most notably against the CFPB (2018) and Operation Choke Point (2014), and operates member support programs such as the March 2020 COVID-19 Member Flexibility Program. Revenue is generated through membership dues from lenders and service providers in the industry.

In October 2020, CFSA and the Financial Service Centers of America (FiSCA) formed the INFiN alliance, unifying the two associations' advocacy efforts, expanding the represented base to over 350 companies across approximately 8,000 storefront locations, and broadening CFSA's scope to the full consumer financial services spectrum. The alliance reshapes CFSA from a sector-specific small-dollar lending association into a more comprehensive consumer financial services advocacy body.

Name

CFSA, LLC

Legal name

Community Financial Services Association of America

Website

https://cfsaa.com

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

1–10 employees

Short description

CFSA is a national trade association founded in 1999 that represents non-bank lenders offering small-dollar credit products, serving 19 million households across 30+ states through a unified base of 350+ member companies under the INFiN alliance.

Ownership category

akta.pro rank

Headquarters

HQ city

Alexandria

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Membership dues: CFSA generates revenue through membership fees from lenders and service providers. The association offers membership levels to both lenders and service providers, and membership is described as an investment in business and the future of small-dollar lending.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

CFSA is a national trade association that represents non-bank lenders and service providers offering small-dollar credit products and other consumer financial services. The organization provides industry advocacy, policy engagement, and a member-driven Best Practices framework covering advertising, collections, and consumer protections for the small-dollar lending industry.

Product overview

CFSA is a trade association representing non-bank lenders that offer small-dollar credit products and financial services. The association's member companies provide a portfolio of products including single-payment and multi-payment small-dollar loans, auto title loans, check cashing, prepaid debit cards, bill payment, money transfers, and tax preparation services. All products are offered through state-licensed and regulated storefront locations and online platforms, with members adhering to CFSA's industry-leading Best Practices framework. CFSA members also participate in the Extended Payment Plan (EPP) provision for customers needing additional repayment flexibility.

Differentiator

Problem solved

Functional benefit

Products and services

• CFSA Membership
• CFSA Best Practices
• INFiN, A Financial Services Alliance
• Policymaker Resources and Policy Advocacy
• Research and Surveys Publications
• COVID-19 Member Flexibility Program

Quantifiable outcome

• 96% of borrowers find small-dollar loans useful
• +3 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• INFiN, A Financial Services AlliancecoreStrategic or Co-development Partner · 6 October 2020In October 2020, CFSA and Financial Service Centers of America (FiSCA) announced the creation of INFiN, A Financial Services Alliance. This alliance creates a collective of companies dedicated to meeting the needs of consumers in a diverse and evolving financial services marketplace. INFiN provides a unified and strengthened voice for the consumer financial services industry and represents more than 350 companies operating approximately 8,000 locations throughout the United States.
• Financial Service Centers of America (FiSCA)coreStrategic or Co-development Partner · 6 October 2020FiSCA is a national trade association representing the Financial Service Center (FSC) industry. FiSCA and CFSA jointly formed the INFiN alliance in October 2020, combining their membership bases to create a stronger collective voice for the consumer financial services industry.

Scale indicators5 records

Recent moves7 records

Expansion highlights3 records

Broad incumbents

• Consumer Bankers Association (CBA): CBA represents retail banking institutions serving consumer markets. It is a broad incumbent peer engaged in overlapping federal regulatory advocacy on consumer credit products.
• National Association of Federally-Insured Credit Unions (NAFCU): NAFCU advocates for credit unions, which CFSA explicitly identifies as inadequate substitutes for small-dollar credit. It is a broad incumbent peer in consumer-financial-services advocacy.
• American Bankers Association (ABA): ABA is the largest US banking trade association, representing institutions that compete and overlap with CFSA members in serving consumer credit demand. It is a broad incumbent in the same financial-services advocacy space, though it represents depository banks rather than non-bank lenders.
• Independent Community Bankers of America (ICBA): ICBA represents community banks, many of which are positioned as alternatives to small-dollar lenders. It is a broad incumbent advocacy body operating on adjacent regulatory and consumer-finance issues.

Direct peers

• American Financial Services Association (AFSA): AFSA is the national trade association for consumer finance companies, including installment lenders and small-dollar credit providers. It is a close peer in mission, membership profile, and policy advocacy focus.
• Online Lenders Alliance (OLA): OLA is a trade association for the online consumer lending industry, including fintech and small-dollar digital lenders. It serves an overlapping membership base with CFSA's online-channel members and engages on similar state and federal regulatory issues.
• Financial Service Centers of America (FiSCA): FiSCA is a national trade association representing the Financial Service Center industry. It is CFSA's closest peer, having merged its membership base with CFSA to form INFiN in October 2020.
• INFiN, A Financial Services Alliance: INFiN is the combined alliance formed by CFSA and FiSCA in 2020, representing 350+ companies and ~8,000 locations. It is the natural umbrella entity in which CFSA now operates and the most direct peer in terms of mission and member base.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/profile.php

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CFSA, LLC