Deal Would Expand Remittances

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CUNA and the World Council of Credit Unions (WOCCU) have entered into an agreement with Travelex to expand money remittance services. The new program will operate under the International Remittance Network (IRnet) name that WOCCU has built, and will be licensed to CUNA for use in the United States. Under the agreement, CUs will have the option of using Travelex's Worldwide Money Remittance system or the Vigo Remittance service, which is the service used by WOCCU to allow immigrants to send funds home. The Travelex Worldwide Money, Ltd., program was established in 2000 to provide point-to-point remittances of cash for consumers, using agents.

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