MANHATTAN BEACH, Calif. — If you can't beat 'em, buy 'em.

Kinecta Federal Credit Union announced today that it purchased Carson, California-based Nix Check Cashing for approximately $45 million, to be housed under the credit union's wholly-owned subsidiary, Kinecta Alternative Financial Solutions, Inc.

Nix is the largest independent check cashing chain in Los Angeles, with 55 retail locations. The payday lender is such a cultural icon in Southern California, the rap group The Beastie Boys included Nix in the lyrics of their 1989 hit, High Plains Drifter.

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