Broadway Federal Bank, Nix in Alliance

Los Angeles-based Broadway Federal Bank, the oldest black-owned thrift institution west of the Mississippi, said it will open a banking center in the lobby of an outlet of Los Angeles-based Nix Check Cashing, one of California’s largest check-cashing chains. Broadway Federal Banking Center is expected to open by July 1 at 3555 W. Slauson in South Los Angeles and will offer an ATM, a night depository and personnel to provide banking services such as new accounts and real estate loan applications. The collaboration will increase banking services for inner-city residents and minimize the cost of expansion for Broadway Federal, the two companies said.