Essentia Financial Services Signs New Distribution Agreement with Superior Grocers

FORT WORTH, Texas, Jan. 7, 2012 /PRNewswire/ -- Essentia Financial Services LLC, a nationwide leader in retail-specific consumer financing solutions, today announced the signing of a major distribution agreement for the ChargeIt+Plus charge card with Superior Grocers in all Southern California locations. 

The distribution agreement makes Essentia's innovative ChargeIt+Plus charge card available to all qualified Superior Grocer customers and provides the grocer with the ability to safely extend immediate credit to its customers at the point of sale whenever needed.

"We are truly excited about this new agreement with Superior Grocers and the opportunity to serve their thousands of customers in Southern California.  Nearly 60 million US consumers are financially underserved and need short term credit. For grocery, convenience stores and other retailers, this can limit sales in between their customer's pay cycles," explains Tommy Glenn, Essentia CEO.  "The ChargeIt+Plus card gives financially underserved consumers immediate credit for life's essentials, without having to worry about bank overdraft or other high fees. We're thrilled to partner with such a customer-focused grocery chain, working together to give their customers the purchasing power they deserve."

The distribution agreement with Superior Grocers represents the fifth regional grocery chain partner for Essentia.  Commitments from other retailers currently in implementation will expand the total number of retail distribution outlets to nearly 1,500 by first quarter, 2013.  In each of these locations, the ChargeIt+Plus card creates increased retailer loyalty and repeat sales, a recurring revenue stream and additional ways to serve the consumer through a long term customer relationship.  The ChargeIt+Plus card generates more spending power for consumers and a competitive advantage for the retailer with good funds guaranteed by Essentia to the retail partner.

Under the terms of the distribution agreement, interested customers of Superior Grocers can apply for the card 24 hours a day, and if approved, are granted credit for instant in-store use. Essentia will provide all customer support and card account servicing.

For more information on Essentia Financial Services or the ChargeIt+Plus card, call 1-800-516-7840 or visit www.essentiafinancial.net. 

About Essentia Financial Services (www.essentiafinancial.net)
Essentia Financial Services (EFS) and its consumer credit product, the ChargeIt+Plus card, delivers immediate point-of-purchase credit to financially underserved US consumers. By leveraging existing retail payments infrastructure and sophisticated analytics, the ChargeIt+Plus Card can be installed at more than 100,000 US retail grocery and convenience locations.

About Superior Grocers (www.superiorgrocers.com)  
Headquartered in Santa Fe Springs, California, Superior Grocers is one of the largest independently-owned chains of grocery stores in Southern California. The Company delivers high quality products, exceptional service, and low prices through its 39 retail locations.

SOURCE Essentia Financial Services LLC