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World Council of Credit Unions
International Remittances World Council is the apex trade association and development organization of the international credit union system. It promotes the sustainable growth of credit unions and financial cooperatives across the globe. As instruments of economic and social development, World Council, its regional confederations, and national member organizations in 79 countries with 40,000 member credit union serve more than 118 million people worldwide. CUNA & Affiliates has entered into an agreement with the World Council of Credit Unions, Inc. (WOCCU) and Travelex to make international money remittance services more broadly available to credit unions in the United States. The new international money remittance program will operate under the umbrella name IRnet which has been licensed by WOCCU to CUNA & Affiliates for use in the United States. The agreement gives U.S. credit unions the option of using Travelex's Worldwide Money Remittance system or the Vigo Remittance service, the service currently used by WOCCU. This agreement means U.S. credit unions can provide international money remittances to their members and potential members efficiently and economically to the consumer, says CUNA President and CEO Daniel A Mica. The IRnet name is well-established, so licensing it from WOCCU gives the program instant name recognition and credibility in the marketplace.
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