MADISON, Wis. — IRnet, the network of low cost remittance services for credit unions that is administered by the World Council of Credit Unions, has seen a drop in remittances sent to Mexico over the last five months, according to an WOCCU manager. But the manager said it is not yet clear whether the drop is merely the result of seasonal fluctuation or part of a longer term trends.
"Overall we are still seeing growth in remittance volume but just not as fast," explained Tiffany Kultgen, manager of remittance services for WOCCU. "We generally see peaks and valleys in the flow over these months."
Non-credit union remittance providers have reported a sharp decline in remittance volume to Mexico.
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