CUNA (Credit Union National Association) & Affiliates [in May 2003] entered into an agreement with the World Council of Credit Unions, Inc. (WOCCU) and Travelex to make international money remittance services more broadly available to credit unions in the United States.
The new international money remittance program will operate under the umbrella name “IRnet” which has been licensed by WOCCU to CUNA & Affiliates for use in the United States. The agreement gives U.S. credit unions the option of using Travelex’s Worldwide Money Remittance system or the Vigo Remittance service, the service currently used by WOCCU.
“This agreement means U.S. credit unions can provide international money remittances to their members and potential members efficiently and economically to the consumer,” says CUNA President and CEO Daniel A Mica. “The IRnet name is well-established, so licensing it from WOCCU gives the program instant name recognition and credibility in the marketplace.”
Credit Unions increased their remittance capability in 2003 and continue to expand. More and more systems facilitating international remittance transaction mean that IPM and our business partners will continue to bring state of the art solutions to our customers.
No comments:
Post a Comment