Madison - First Data Corporation, a leading provider of electronic commerce and payment solutions for businesses and consumers worldwide, and owner of a family of remittance companies, including Western Union and Orlandi Valuta, has recently announced its plans to acquire VIGO Remittance Corporation, subject to regulatory approval.
VIGO is one of World Council of Credit Unions, Inc.'s (WOCCU) strategic partners within its International Remittance Network (IRnet) program, which offers remittance services to credit unions and their members in the U.S. and abroad.
In anticipation of this development, WOCCU met with VIGO's senior management to discuss the potential impact of this acquisition on IRnet credit unions. After the acquisition announcement was made public, VIGO informed WOCCU of the following:
IRnet products & services manager, Pablo DeFilippi, responded to the announcement stating, "WOCCU will continue providing an affordable remittance service alternative to consumers through its IRnet program and is committed to working with VIGO's management team after the acquisition is finalized."
WOCCU has notified all IRnet Program credit unions of the acquisition and will continue to do so as additional information becomes available. Any new information regarding the future of the relationship will also be posted to WOCCU's website at www.woccu.org.
For operational questions, please contact Pablo DeFilippi at pdefilippi@wocc u.org or (608) 231-7849 or Tiffany Kultgen at email@example.com g or (608) 231-7486.
World Council of Credit Unions is the global trade association and development agency for credit unions. World Council promotes the sustainable development of credit unions and other financial cooperatives around the world to empower people through access to high quality and affordable financial services. World Council advocates on behalf of the global credit union system before international organizations and works with national governments to improve legislation and regulation. Its technical assistance programs introduce new tools and technologies to strengthen credit unions' financial performance and increase their outreach.
World Council has implemented more than 290 technical assistance programs in 71 countries. Worldwide, 57,000 credit unions in 103 countries serve 208 million people. Learn more about World Council's impact around the world at www.woccu.org.