To provide money transfer and bill payment services to approximately 7,900 credit unions
MoneyGram International, a provider of payment services, has entered into an agreement to partner with CUNA Strategic Services (CSS), to provide credit unions simplified access to MoneyGram’s global money transfer and bill payment services. The agreement extends a relationship that started more than 35 years ago when CSS began offering MoneyGram money order services to credit unions.
Under the agreement, the 7,900 credit unions, representing 21,000 individual branches in all 50 states and Puerto Rico, are eligible to implement MoneyGram money transfer and bill payment services. Once implemented, credit unions will be connected to the 180,000 agent locations in more than 190 countries and territories for money transfer services. MoneyGram ExpressPayment services are also available for payments to 2,200 US-billers including mortgage and auto lenders. Many prepaid cards are also conveniently loaded with the MoneyGram ExpressPayment service including RushCard, Visa ReadyLink and Netspend cards.
Tim Summers, general manager Consumer Products – Americas for MoneyGram International, said: “Our 35-year relationship with CUNA Strategic Services provides a great framework for MoneyGram to help the 7,900 individual credit unions establish money transfer and walk-in bill payment services for their members. Approximately 90 percent of these institutions do not offer the service today and MoneyGram provides a technology solution to easily connect each branch with person-to-person money transfer to more than 190 countries, and direct-to-account services in a growing number of locations including Mexico.”
Wes Millar, senior vice president of CUNA Strategic Services, said: “Consumers look to credit unions for trusted, valuable services to meet their financial needs. MoneyGram’s convenient and reliable money transfer service provides a great opportunity for credit unions to immediately fill a gap in their services and attract new members. Last year, more than 6,000 credit unions implemented solutions offered via CUNA Strategic Services’ partnerships. Expanding our relationship with MoneyGram to money transfer and bill payment services provides an instant opportunity for credit unions to enhance their products.”
CUNA Strategic Services, owned jointly by Credit Union National Association (CUNA) and the state leagues, provides credit unions with access to products, services, and technologies delivered with a competitive advantage made possible through volume pricing and strategic program development.