The large and growing need for affordable remittance transfer services represents an equally large business opportunity for credit unions. This is especially true for those U.S. cooperatives serving Hispanic members with family in Latin America.
Once the domain of Latin mom-and-pop shops, remittance services have in recent years become accessible to Hispanic and other consumers through their local credit unions.
Beyond simply allowing consumers another choice, providing remittance services also gives credit unions the chance to deliver more-comprehensive financial services to a largely underserved population. In fact, remittance services are so successful that Coopera has made it a best-practice solution for credit unions looking to invest in the youngest, largest and fastest-growing segment of the U.S. population.
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