The $2.2 billion Veridian Credit Union in Waterloo, Iowa, has begun offering Western Union’s global money transfer and bill pay services at its 26 branches.
The agreement will allow Veridian’s 166,000 members to send or receive money transfers with funds accessible for payout at more than 500,000 Western Union agent locations in more than 200 countries and territories, the company and credit union said.
Expedited payments through an extensive biller network also will be available and both services also will be available online.
“This will allow us to offer a broad suite of products and services to meet the needs of our members while continuing to deliver an outstanding member experience," said Mark Koppedryer, vice president of branch services at Veridian.
"Western Union is changing quickly and this agreement with Veridian builds on our company's continued focus to work with leading credit unions and banks to provide best-in-class value-added services to customers." said Victoria Lopez-Negrete, senior vice president and general manager, North America, for Western Union.
Western Union said it completed 226 million consumer-to-consumer transactions worth $81 billion worldwide in 2011 and completed 425 million business payments.