Treasury Official Sees IRnet InAction

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SANTA FE, N.M. - (10/15/04) -- A top Treasury official met Thursdaywith members and staff at Guadalupe CU here to witness theinternational remittance process in action. One member of thecredit union, the first in New Mexico to offer the IRnet service,explained to Treasury Assistant Secretary for International AffairsRandy Quarles that he sends money home each week through the creditunion to family members living in a small town near Mexico City.Guadalupe is one of nearly 200 credit unions in the U.S. using theWorld Council of CU's IRnet international money transfer network.Guadalupe CU charges members $10 to send up to $1,000, andnonmembers a slightly higher fee.

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