Show Retail Groc Sponsor Check Cashing Policy Lawrence W. W Alder Executive Director Di rector Utah Retail Grocers Grocer Association tion announced that retail grocers throughout Utah have implement nt an industry in in- wide check cashing policy Today more than ever supermarkets are being used as banks Checks are cashed food purchased and cash put into the pocket A large high volume supermarket could cash checks checka per week In some areas on certain days grocers will wUl cash checks up to percent in excess of sales stated Mr Alder THE NEW check cashing policy sponsored spon by the Utah Retail Grocers Association Association As As- in cooperation with law enforcement enforcement en en- agencies from throughout the state is being instituted for the foll following follow w. w ing reasons 1 Check cashing necessitates grocers holding large amounts of cash on hand which makes them extremely vulnerable vulnerable able to robbery and increases costs and nd problems in obtaining adequate t cover coverage ge gefrom from insurance companies 2 Costs have drastically l Increased in bank service charges Interest rates Pates are higher and many stores torea mus must borrow borrow bor bor- row money to ca cash h checks 3 The food industry is experiencing a rapid rise in the number numb t of tf checks forced to collection Bad Bad ck wt- wt ten last year in Utah amounted to seve several ral million dollars Much time Uni and money moey was expended to recover these bad checks A large amount is s never nayer col col- col 1 These checks checks' must must be be written h hoff off and included i into to the cos cost oti of gr gro ceries cerles 4 Law enforcement agencies agencies' d do not have a sufficient number of officers r npr time to adequately apprehend lanet nd prose prosecute cute bad check written O Our program t when supported by our will actually help reduce tile the 1 caseload ad del ind implement apprehension o for or law personnel I jj BECAUSE OF OP OFa a food food retailers ra acce accessibility accessibility to the public a and ad dt basic na n h ture of commodities w we WI sell ell requiring g ga a significant portion of a family's I Income income in m. come grocers are often orte 1 pl placed d in the Ute uncomfortable position of I fall U guy gOy s I s the cause of high prices 1 The US U.S. Department of Agriculture fe e reports that Americans Americans' i spend pd approximately 16 perc percent nt of f their h fr paychecks s for food do down a a post II war high of 20 percent WE ARE as concerned about inflation tion as any other consumer r j so o in order r for us not to reflect out ou- lOise in higher r food prices due to b bad d cl e f we we are e appealing for cooperation un er- er r. r standing in helping u us institute ur check cashing policy The check cashing requires policy the following approval f A. A Identification requires eq res ies elU either er j 1 or 2 1 Utah drivers driver's lice r number with picture plus one of l the following o Major credit card bank c ries card bird or company or military lD JD 2 Store check cashing card n number mb r B. B Payroll and government checks v checks must have m managers managers' nager ok bk okay y no 00 checks cashed on Sundays or rhoU holidays s sor or after 6 pm p.m. Mond Monday Monday- y through ugh Sat Satur Satur- r. r day j C. C Personal ch checks ks limited d i. i t to amount in of purchase plus 5 D. D Checks not acceptable Two party personal checks of out checks Posted dated or older than 30 days personalized non or counter counterchecks checks personal loan finance company or Insurance insurance in In- checks income tax refund checks and money orders |