7,500 from United Firefighters of Los Angeles City Local 112 - Issues Committee; $7,500 total from the law firm O'Melveny & Myers and its political action committee; $5,000 from Pacific Energy Group LLC; $5,000 from Navicert
This agreement will bring together two industry leaders in an unprecedented effort to extend affordable and necessary financial services to millions of consumers who have been underserved by traditional financial services firms," said Tom Nix, President/CEO of Navicert.
Navicert will change its name to Kinecta Alternative Financial Solutions, Inc.
Navicert was represented in the transaction by Barrington Associates, a division of Wells Fargo Securities, LLC.
Under terms of the agreement, Union Bank of California has acquired preferred stock convertible into 40 percent of the common equity interest in Navicert Financial, Inc.
Nix Check Cashing has been providing fast, friendly, courteous service at a fair price for 33 years from locations that are well maintained and professionally staffed with people who live in the communities we serve," said Tom Nix, chairman and CEO of Navicert.
It will lead a Navicert Community Advisory Board that will be assembled shortly to oversee community education and consumer protection.
Thomas Nix, president and CEO, Navicert