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CFSC New Money Express in Minneapolis, MN
CFSC New Money Express offers payday loans, check cashing, and tax filing services with locations in Minneapolis and New Richmond, Minnesota. Mixed customer reviews reflect inconsistent service quality.
Data compiled from public sources · Rating from CreditDoc methodology
CFSC New Money Express Review
CFSC New Money Express operates as a financial services provider with a physical location at 333 E Lake Street in Minneapolis, MN 55408, with extended hours Monday–Saturday (9AM–7PM weekdays, 10AM–6PM Saturday). The company is currently categorized as an emergency-cash lender but operates a multi-service model that includes payday loans, check cashing, furniture sales/consignment, and tax preparation services. Their website advertises loan amounts ranging from $100 to $2,500 with a simple online application form, emphasizing fast funding and 24/7 customer support. According to the website, they maintain a 2.5-star rating based on 30 customer reviews.
The company's service offerings span payday loans, check cashing services, tax filing assistance (mentioned specifically for the New Richmond location with staff member Lindsey), and furniture retail/consignment. They advertise competitive pricing and friendly staff in marketing materials. The company claims their personal information handling is secure and promises response within 1-2 business days for inquiries sent to support@mbvt.com. Their website mentions alternative lender listings and positions themselves as an accessible option for quick cash needs.
Key distinguishing factors include physical storefront locations in the Twin Cities area, multi-service offerings beyond payday loans, and tax preparation services—differentiating them from pure online lenders. Customer testimonials reference specific staff members (Jason, Anita, Lindsey) by name, suggesting personalized service at certain locations. The company advertises promotional offers including Black Friday deals and senior discounts.
However, significant concerns emerge from customer reviews. Multiple reviews describe rude staff, poor customer experience, and warnings about potential scams. Negative feedback specifically mentions lack of customer care and suggestions to avoid the business. The mixed 2.5-star rating (30 reviews) reflects substantial dissatisfaction alongside positive testimonials praising speed and friendliness. The website content mixing payday loans, furniture sales, and tax services raises questions about consistency and specialization. No transparent fee or APR information appears on the provided website content, which is a red flag for payday lending transparency.
Services & Features
24/7 customer support (email and phone)
Bill payment services
Check cashing services
Fast funding claims
Furniture sales and consignment
In-person loan processing
Money services
Online loan application
Payday loans ($100–$2,500)
Senior discounts
Tax filing and preparation
Wire transfers (implied from site listing)
Feature Checklist
Mobile App
Online Portal
Score Tracking
Credit Education
Personal Advisor
Identity Theft Protection
Pros & Cons
Pros
- Multiple physical locations in Minneapolis and New Richmond allowing in-person service
- Extended business hours (9AM–7PM weekdays, 10AM–6PM Saturday) for accessibility
- Loan amounts available up to $2,500 for emergency cash needs
- Fast processing times mentioned positively by some customers ('One of the fastest companies')
- Multi-service offerings including check cashing, tax preparation, and furniture sales
- Staff members specifically praised by name for friendliness and professionalism (Jason, Anita, Lindsey)
- Promotional offers and discounts mentioned (Black Friday deals, senior discounts)
Cons
- Significant negative reviews citing rude staff and poor customer experience ('rude staff does not care about the customer experience')
- Multiple warnings about scams and recommendations to avoid the business from customers
- Inconsistent service quality across locations based on conflicting customer testimonials
- No transparent fee structure, APR, or loan terms disclosed on website
- Low average rating of 2.5 stars from 30 reviews indicates substantial customer dissatisfaction
Rating Breakdown
Value 2.0
Effectiveness 1.0
Customer Service 2.2
Transparency 2.0
Ease of Use 3.9
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Frequently Asked Questions
Is CFSC New Money Express legitimate?
Yes. CFSC New Money Express is a registered company, headquartered in 333 E Lake St, Minneapolis, MN 55408.
Quick Facts
- Headquarters
- 333 E Lake St, Minneapolis, MN 55408
- BBB Accredited
- No
- Starting Price
- Contact provider
- Setup Fee
- None
- Money-Back Guarantee
- No
CreditDoc Diagnosis
Doctor's Verdict on CFSC New Money Express
CFSC New Money Express is best for borrowers in the Minneapolis/New Richmond area who need fast emergency cash and prefer in-person transactions with named staff. Critical caveat: The 2.5-star rating with multiple scam warnings and complaints about rude staff suggests significant service inconsistency—thoroughly research specific branch reviews and compare APR/fees with competitors before applying, as no transparent pricing appears on their website.
Best For
- Customers in Minneapolis or New Richmond needing immediate cash and able to visit in-person
- Individuals who prefer face-to-face interactions with named service representatives
- Customers seeking bundled services (loans, check cashing, tax prep) from one provider
Updated 2026-04-29
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Read guide →Financial Terms Explained (10 terms)
New to credit and lending? Here are the key terms used on this page, explained in plain language with real-number examples.
Interest & Rates
APR — Annual Percentage Rate
The total yearly cost of borrowing money, including the interest rate plus any fees the lender charges. Think of it as the 'true price tag' on a loan.
Why it matters
Lenders must show APR by law (Truth in Lending Act) because the interest rate alone can hide fees. Comparing APR across lenders is the most reliable way to find the cheapest loan.
Example
You borrow $10,000 at 6% interest for 3 years, but there's a $300 origination fee. The interest rate is 6%, but the APR is 6.9% because it includes that fee. You'd pay $304/month and $946 total in interest.
Compound Interest
Interest calculated on both the original amount borrowed AND the interest that's already been added. It's 'interest on interest' — and it makes debt grow faster than you'd expect.
Why it matters
Credit cards and many loans use compound interest. If you only make minimum payments, compound interest is why a $3,000 balance can take 15 years to pay off.
Example
You owe $1,000 at 20% annual interest compounded monthly. After month 1 you owe $1,016.67. Month 2, interest is charged on $1,016.67 (not $1,000), so you owe $1,033.61. After 1 year without payments: $1,219.
MAPR — Military Annual Percentage Rate
A special APR calculation used for military servicemembers that includes ALL costs — fees, insurance, and add-ons — capped at 36% by federal law.
Why it matters
The Military Lending Act protects active-duty servicemembers and their families from predatory lending. Any lender charging above 36% MAPR to military is breaking federal law.
Example
A payday lender charges a $15 fee per $100 borrowed for 2 weeks. For civilians, that's technically legal in some states. For military: that works out to 391% MAPR — illegal under the MLA.
Usury Rate — Usury Rate (Interest Rate Cap)
The maximum interest rate a lender can legally charge in a particular state. Charging above this rate is called 'usury' and is illegal.
Why it matters
Usury laws are your main legal protection against predatory interest rates. But beware: some states have weak or no usury caps, and federal banks can sometimes override state limits.
Example
New York caps interest at 16% for most consumer loans (25% is criminal usury). If a lender tries to charge you 30% in NY, that loan is unenforceable — you could fight it in court.
How Loans Work
Collateral — Loan Collateral
An asset you pledge to the lender as security for a loan. If you stop paying, the lender can seize and sell that asset to recover their money.
Why it matters
Secured loans (with collateral) have lower interest rates because the lender has less risk. But you could lose your home, car, or savings if you default.
Example
A mortgage uses your house as collateral. A car loan uses your vehicle. A title loan uses your car title. If you miss payments, the lender can foreclose or repossess.
Fees & Costs
Late Fee — Late Payment Fee
A charge added to your account when you miss a payment deadline. Most credit cards charge $29-$41 per late payment, and many loans have similar penalties.
Why it matters
The fee itself hurts, but the real damage is to your credit score. A payment 30+ days late stays on your credit report for 7 years and can drop your score 60-110 points.
Example
Your credit card payment of $150 is due March 1. You pay on March 18. The bank charges a $39 late fee. If it's 30+ days late, it gets reported to credit bureaus and your 760 score drops to 670.
NSF Fee — Non-Sufficient Funds Fee
A fee your bank charges when a payment bounces because there isn't enough money in your account. Also called a 'bounced check fee' or 'returned payment fee.'
Why it matters
NSF fees hit you twice — your bank charges you AND the company you were trying to pay may charge their own returned payment fee. That's $50-70 for one missed payment.
Example
Your auto-pay tries to pull $350 for rent, but you only have $280 in checking. Your bank charges $35 NSF fee. Your landlord charges $25 returned payment fee. Total damage: $60 in fees.
Legal Terms
Usury — Usury (Illegal Interest)
The practice of charging interest rates higher than what the law allows. Usury laws set state-specific caps on how much lenders can charge.
Why it matters
If a lender charges usurious rates, the loan may be void, penalties can be reduced, or you may be entitled to damages. Know your state's limits.
Example
Your state caps consumer loans at 24% APR. An online lender charges you 36%. That loan may be unenforceable, and you might only need to repay the principal — no interest or fees.
Credit Cards
Cash Advance — Credit Card Cash Advance
Using your credit card to get cash from an ATM or bank. It's one of the most expensive ways to borrow — higher interest rate, immediate interest accrual (no grace period), and an upfront fee.
Why it matters
Cash advances are a debt trap: 25-30% APR with no grace period plus a 3-5% fee. Interest starts the second you withdraw, not at the end of the billing cycle.
Example
You take a $500 cash advance. Fee: $25 (5%). Interest: 28% APR starting immediately. After 30 days, you owe $536.67. After 6 months of minimum payments, you've paid $85 in interest on $500.
Want to learn more? Read our Financial Wellness Guides for in-depth explanations and practical advice.
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