“Can a legacy payday/alternative-lending operator modernize its underbanked consumer credit business through sponsored bank partnerships and online installment loan products?”
CNG Holdings began in 1994 as a payday/short-term lending retailer under the Check 'n Go brand. Over two decades it expanded through store rollout and online channels, acquiring Allied Cash Advance and operating Cash Store locations. The embedded finance angle is the Xact brand: an online installment loan issued by Capital Community Bank (a Utah-chartered sponsor bank), allowing CNG to offer bank-issued credit nationally while managing origination and servicing — a classic rent-a-bank or sponsored-lending model. CNG remains a privately held, consumer-facing alternative financial services company targeting the underbanked segment.
CNG Holdings discloses Capital Community Bank (sponsor bank) as its banking provider, with Capital Community Bank as its sponsor bank, according to the Embedded Finance Index 2026.
CNG Holdings does not disclose a bank charter of its own; its banking services are provided through Capital Community Bank.
The Embedded Finance Index 2026 maps 3 layers in CNG Holdings's stack: Banking / BaaS (Capital Community Bank (sponsor bank)); Lending (Payday / short-term loans (Check 'n Go retail and online), Installment loans (Allied Cash Advance), Installment loans (Cash Store) and Xact online installment loan (Capital Community Bank sponsored)); Sponsor bank (Capital Community Bank).
CNG Holdings is founded in 1994 and headquartered in Cincinnati, Ohio, USA.
CNG Holdings has raised $200M+ (debt) in total (latest round: Senior Secured Credit Facility, April 2017).
Get a read on where your own stack stands against CNG Holdings and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.