Analysis of Customer Use and Satisfaction

In 2009, the George Washington University School of Business released a comprehensive economic analysis of consumer demand for, and use of, payday advance services. The study was conducted among a national representative sample of customers of CFSA member companies. It found that:

Customers overwhelmingly appreciate the payday advance product.

  • 86 percent of customers believe it is a useful financial product.

  • 88 percent were satisfied with their last transaction.

Customers use the service responsibly.

  • 71 percent of customers use payday advances to cover unexpected expenses or a temporary reduction in income.

  • 58 percent of customers either did not renew in the last year or renewed only 1-2 or 3-4 times. (“Renewals” include both rollovers and advances taken out the same day another was paid in full.)

Customers understand the cost of the service.

  • 95 percent of customers were aware of and reported the finance charge and could compare it with similar fees.

  • 81 percent of customers could recall that the fee had been disclosed as an APR, although most could not recall the rate.

Most customers fit the expected economic profile of consumers in early life-cycle stages.

  • Most come from middle-income, educated young families.

  • 32 percent of customers own homes and 100 percent have steady incomes and checking accounts.

  • Nearly 94 percent have a high school diploma or better; with 56 percent having some college or a degree.

In This Section:

Connecting With Our Communities

Managing household finances can be a daunting task. However, by using solid budgeting and savings techniques, you can accomplish major financial goals. In the Customer Resource Center, CFSA offers a variety of payday advance resources that support and encourage responsible lending practices, and highlight the vital role of our members’ stores in neighborhoods near you.

Forgot Username or Password?


Thanks for visiting the CFSA Web site. CFSA values you as a member and is constantly seeking new ways to enhance your membership experience. As such, the information in this section is restricted to members only. If you are a CFSA member, please enter your username and password. If you have forgotten your login info, send an e-mail to

Forgot Username or Password?


Here you will find an aggregate of industry research, comprehensive data, and benchmarking tools from the short-term lending industry. They cover all payday advance business areas – consumer demographics, media hits, the latest policy initiatives, among others. Click here to access to the partner's resource library.

Forgot Username or Password?

For Our Policymakers

CFSA works at the federal, state, and local levels educate legislators and regulators about the role of payday advances in the broader financial services arena. This section provides resources for policymakers who believe in access to credit, want to preserve financial options and ensure balanced, substantive consumer protections. Click here to enter the Policymaker Resource Library.