“At Think Finance we understand the number of families struggling to put food on the table is growing and we felt it was important to give our employees the opportunity to help,” said Ken Rees, Chief Executive Officer of Think Finance.

This is the second annual food drive Think Finance has conducted for Tarrant Country residents in need.  This year’s donation of 6,000 pounds more than doubled the previous year’s total.

“We are honored to be recognized by Inc. magazine as one of the fastest growing companies in the US,” stated Ken Rees, chief executive officer of Think Finance.  “We have experienced remarkable growth over the past three years and expect that trend to continue as we deliver on our vision of Banking for the Rest of Us™.  Traditional bank products are simply not meeting the needs of millions of Americans and we have seen tremendous consumer response to our next generation products.”

According to a recent study by the FDIC, some 60 million American adults - one quarter of households – are “underbanked,” meaning they don’t have a traditional bank account or rely on alternative financial services such as prepaid debit cards, check cashing, and payday loans.  Think Finance’s innovative financial products provide underbanked consumers with better solutions for their financial needs, combining convenience, affordability, and transparency.

“The leaders of the companies on this year’s Inc. 5000 have figured out how to grow their businesses during the longest recession since the Great Depression,” said Inc. president Bob LaPointe. “The 2010 Inc. 5000 showcases a particularly hardy group of entrepreneurs.”

“I would like to thank our employees, partners and our more than 1 million customers for supporting Think Finance as we work to become the leading provider of financial solutions for the underbanked,” added Mr. Rees.

The 2010 Inc. 500|5000 is ranked according to percentage revenue growth when comparing 2006 to 2009.  The minimum revenue required for 2009 is $2 million; the minimum for 2006 is $80,000. Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found on www.inc.com/5000.

Elastic Line of Credit Product Drives Company Growth

FORT WORTH, Texas, July 7, 2010 - Think Finance, a developer of next generation financial products that help people manage life’s everyday expenses, announced today that it has served over 1 million customers.

 ”We are very pleased to achieve such a significant milestone. We believe our success is directly related to our strategic vision to provide the most convenient, fast, easy-to-use, and transparent financial products available” said Think Finance CEO Ken Rees.  “According to recent reports, access to consumer credit has been constricted by as much as $10 trillion by the financial crisis so there is an enormous need for innovative financial products like ours that help people handle life’s everyday expenses, build credit, and save money.”

Rees continued, “our most recent product, Elastic, is growing rapidly as it enables us to provide customers with convenient, flexible access to credit and a lower cost alternative to a traditional checking account.  For many consumers, Elastic is better than a traditional bank account,”

Elastic credit is delivered through a strategic partnership with Urban Trust Bank, which was founded by legendary entrepreneur Robert L. Johnson.  Think Finance provides the Elastic technology platform, marketing and risk management services and Urban Trust Bank issues the Elastic line of credit.

“Think Finance and Urban Trust Bank share the vision of providing better solutions for the tens of millions of working Americans that have been underserved or overcharged by traditional banking products,” said Robert L. Johnson, investor and owner of Urban Trust Bank.

In addition to the existing suite of products, throughout 2010 Think Finance plans to announce several new offerings to help consumers save money, build credit, and gain more control over their financial well-being. 

About Think Finance
Think Finance is dedicated to providing Banking for the Rest of Us^TM.  Our next-generation financial products provide increased convenience, transparency, and value to the millions of consumers whose needs are not being met by today’s banking products.  We enable banks to serve these consumers profitably and responsibly by providing a complete technology, risk management and marketing platform.  Think Finance’s latest product, Elastic, helps customers manage life’s everyday expenses by providing flexible credit and a lower-cost alternative to a traditional checking account.

Established in 2001, Think Finance has served over 1 million customers.  The company is privately held and backed by some of Silicon Valley’s most respected venture capital firms, including Sequoia Capital and Technology Crossover Partners.   Learn more at www.ThinkFinance.com.

Media Inquiries:  Liz Brady, ICR, Inc. for Think Finance, 646-277-1226, liz.brady@icrinc.com

About Urban Trust Bank
Urban Trust Bank (UTB) is a federally chartered community-oriented bank founded by legendary entrepreneur Robert L. Johnson. UTB is successfully executing an innovative business model that provides value-oriented, common-sense banking and mortgage services through a network of branches in Florida and the Washington, DC area.  UTB is among the largest African-American controlled banks in the country and is designated as well capitalized by the Office of Thrift Supervision, the highest possible capital rating. UTB is headquartered in Central Florida.  For more information, visit Urban Trust Bank online at: www.urbantrustbank.com.

Media Inquiries:  Traci Otey Blunt, 240-744-7858, press@rljcompanies.com

FOR IMMEDIATE RELEASE

ThinkCash Changes Its Name to Think Finance

FORT WORTH, Texas, June 28, 2010 — ThinkCash Inc. announced today that it has changed its name to Think Finance.  The name change reflects the Company’s strategic vision to develop next generation financial products that help people manage life’s everyday expenses.  

“Our new name reflects our continued expansion into next generation financial products.  We are listening to the 60 million consumers whose needs are not being met by traditional banking products.  These people want help managing life’s everyday expenses but demand convenience, speed, ease of use, and transparency. Our latest product, Elastic (http://www.elastic.com), provides consumers with convenient, flexible access to credit and a lower cost alternative to a traditional checking account,” said Think Finance CEO Ken Rees.

About Think Finance
Think Finance is dedicated to providing Banking for the Rest of Us(TM).  Our next-generation financial products provide increased convenience, transparency, and value to the millions of consumers whose needs are not being met by today’s banking products.  We enable banks to serve these consumers profitably and responsibly by providing a complete technology, risk management and marketing platform.  Think Finance’s latest product, Elastic, helps customers manage life’s everyday expenses by providing flexible credit and a lower-cost alternative to a traditional checking account.

Established in 2001, Think Finance has served over 1 million customers.  The company is privately held and backed by some of Silicon Valley’s most respected venture capital firms, including Sequoia Capital and Technology Crossover Partners.   Learn more at www.ThinkFinance.com.

Media Inquiries:  Liz Brady, ICR, Inc. for Think Finance, 646-277-1226, liz.brady@icrinc.com

Think Finance is proud to announce a multi-year title sponsorship of a competitive 30-member amateur road cycling team based on Fort Worth, Texas.  The team will be sponsored by the company’s ThinkCash brand and will be called ThinkCash Racing.  As the primary sponsor, ThinkCash will provide financial support to the team’s athletes and will also be the title sponsor of the Texas State Criterium Championships in Fort Worth on May 31, 2010.

ThinkCash VP of Marketing and ThinkCash Racing team member Ben Cooper on his way to a top 5 finish at the Horse Country Time Trial.

ThinkCash Racing, formerly known as the Moritz Chevrolet Racing Team, has a long history of strong race results and giving back to the local community.  Since 2003, the team has hosted the Texas State Criterium Championships, which brings the state’s top pro and amateur racing talent to the streets of Fort Worth’s Cultural District while raising money to support the Fort Worth Police Bicycle Patrol.

ThinkCash Racing team member Tammy Wallace, one of state’s top female cyclists

“Cycling has become part of the corporate culture at Think Finance, so it makes sense for us to use cycling as a vehicle to encourage fitness and philanthropy in the local community,” said Ben Cooper, ThinkFinance’s VP of Marketing and a member of the ThinkCash Cycling Team.

Learn more about the team and view the latest news, race results, and photos at  www.ThinkCashRacing.com.

Mr. Johnson spoke about the need for financial services solutions that are transparent, cost-efficient, and responsive to consumers’ needs.  To meet those needs, Mr. Johnson announced two new products:

• The Urban Trust Success Card — A prepaid Visa debit card that can serve the basic banking needs of millions of Americans.  The Success Card can be used to make purchases anywhere Visa debit is accepted or to get cash at ATM’s worldwide.
• The Elastic Line of Credit — An emergency cash line of credit that provides a fast, convenient way for consumers to deal with unexpected expenses such as car repair and urgent medical care. 

These products represent a better solution for many of the esimated 60 million adults — one quarter of US households — that either don’t have a bank account or use non-bank financial services.  But, as Mr. Johnson pointed out in his keynote speech, these products are only a start.  Over time, Urban Trust Bank, ThinkCash, and other partners will deliver more products to give these consumers control over their financial well-being.

Click here to view an excerpt from Mr. Johnson’s keynote speech.

Here are the winners for Q2 2009:

Respect the Customer:  Jessica R. (Verifications)

Do the Right Thing:  Quincint C. (Information Technology)

Always Improve:  Doris J. (Customer Service)

Make the Numbers:  Jeff C. (Marketing)

Play Nice:  Somer S. (Customer Service)

Think Big:  Bernard G. (Risk Management)

Congratulations to all of this quarter’s core values winners!

Elastic represents another step toward ThinkCash’s vision of providing affordable, convenient emergency credit to hard working Americans that need it most.  By using Elastic instead of bank overdraft protection, many consumers will save hundreds of dollars annually in fees.  For example, to cover a typical $40 expense, bank overdraft protection would cost an average of $34 but an Elastic line of credit would cost just $5.

“We’re excited about partnering with Urban Trust Bank to provide emergency credit to the hard working Americans that need it most,” stated Ken Rees, Chief Executive Officer of ThinkCash. “By using the Elastic line of credit instead of bank overdraft protection, consumers can save money and build credit. We believe Urban Trust Bank is uniquely positioned to deliver this product to the underserved consumer.”

Consumers can apply for an Elastic account at www.elastic.com.

Click here to read the full press release.

On Memorial Day, ThinkCash sponsored the 2009 Texas State Criterium Championships in Fort Worth.  It’s the largest 1-day bike race in North Texas with over 500 participants and 3,500 spectators.  The event featured a wide range of races for both men and women, including a professional race with thousands of dollars in cash prizes.  Just as importantly, the event supported a good cause, raising over $10,000 for the Fort Worth Police Bicycle Patrol.

Professional cyclists whiz by at speeds topping 30 mph

In 2008, ThinkCash started a corporate cycling team — Team ThinkCash — to promote fitness across the company and in the local community.  Team ThinkCash’s own Anthony M. raced in the Category 5 event at this year’s state championship.

ThinkCash rider Anthony M. out of the saddle in the Cat 5 race

The highlight of the day for everyone was the kids’ race.  Kids as young as two years old were able to ride the finishing stretch on the race course with hundreds of spectators cheering them on.  Each child received a participant medal and a bottle of chocolate milk courtesy of Borden’s.

ThinkCash employee Ben C. watches his son ride to victory

This sponsorship is only the beginning of ThinkCash’s committment to serving the community through its cycling team.  Stay tuned for more exciting announcements this summer.

“…there is no statistical evidence to support the ‘cycle of debt’ argument often used in passing legislation against payday lending.”

The study goes on to suggest that legislation resulting from incorrect conclusions about payday loans are likely to cause harm to consumers:

“The likely outcome of state restrictions placed on payday lenders is an increase in costs of doing business which will lead to higher prices than otherwise, leaving consumers worse off.”

The study was based state-level data between 1990 and 2006, and utilized two different empirical approaches.  It used incidence of bankruptcy filings as a measure of consumers’ welfare. 

The report concludes by noting that payday loans, like all loan products, can be abused by consumers.  However, these abuses are the exception rather than the rule.

“These results do not imply that there might not be individuals who make mistakes and borrow beyond their means, paying significantly large finance charges relative to principal, but rather that they are likely to be in the tail of the distribution of payday clients, not a symptom of the industry.”

This study adds to a growing body of evidence supporting what over one million of our customers already know:  Payday loans can be a great way to make ends meet when lower-cost forms of credit aren’t available.  With bank overdraft fees topping $37 billion in 2008, millions of consumers would be better off using payday loans rather than paying more expensive overdraft fees and NSF charges.