What are Credit Service Organizations (CSOs)?
Credit Service Organizations provide retail financial products and services to Texas consumers. From stores in neighborhoods across the state, hard-working Texans have access to small, short term loans; money orders; pre-paid telephone and debit cards and other services to help them manage their finances. One of the services a CSO provides is locating and securing an independent third-party lender for customers who need small, short term loans for immediate financial needs. CSOs do not provide loans to consumers. The small, short term loans are underwritten using the criteria of the unaffiliated third-party lender. Many CSOs also help consumers improve and rebuild their credit ratings by providing the opportunity for the successful repayment of their loans to be reported favorably to the Payment Reporting Builds Credit (PRBC)™ credit bureau.
