MADISON, Wis. — Most people in the credit union industry associate international remittances with Latin America as credit unions have stepped up with an effort to help newly arrived residents from Latin American countries send money home.
But Latin Americans are not the only ones to use credit union remittance services. Immigrants from African countries also use them. The World Council supports this credit union effort and recently added Kenya to its IRnet, the WOCCU-sponsored international remittance network. World Council says that Kenyans living abroad send more than $600 million every year to friends and family back home. WOCCU and shareholding credit unions in Kenya established IRnet Coop Kenya to provide a fast, safe and convenient way to transfer money. Through the network, people can send remittances through any Vigo Remittance Corp. agent or participating credit union in the United States or Canada to a participating financial institution in Kenya. Members and nonmembers alike may use the service.
Kenya's commissioner for cooperatives with the Ministry of Co-operative Development and Marketing, Frederick Odhiambo, was at a recent event celebrating the establishment of the remittance relationship and congratulated Coop Kenya for coming at a time when the cooperative movement faced increasing competition and the challenge to meet increasing member needs. Odhiambo also received a remittance through the network at a participating financial institution during the event. After providing the sender's reference number, his photo ID and upon completing a simple form, Odhiambo received the $10 money transfer from Madison, Wis., within a half-hour after it was sent. A "roadshow team" performed a series of entertaining and interactive skits throughout the day at key locations in Nairobi to educate the public on the benefits, mechanics and availability of Coop Kenya. Team members also distributed flyers and answered questions on the new service.
Recommended For You
Though not a credit union member, Beatrice Wainaima was one of the first people to receive a remittance via IRnet(R) Coop Kenya.
Her husband, a professional runner currently living in Brooklyn, N.Y., sends her money twice a month to a financial institution in Nairobi. Until she can obtain a visa to join him in the U.S., Beatrice uses the money to cover house payments, food and transportation. She has also invested some of the money into a small clothing store she recently opened. Beatrice said that she uses Coop Kenya because she values the customer service and low-cost alternative.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.