World Council and Vigo Provide Remittance Services to Kenya
Madison, WI—World Council of Credit
(WOCCU) today announced a strategic relationship
with Vigo Remittance Corp., one of the largest
electronic funds transfer companies in the
United States, to provide remittance services in
Africa. The new program,
IRnet® Coop Kenya,
marks the first venture into the Kenyan
remittance market for both World Council and
IRnet® Coop Kenya is a
joint undertaking of
World Council, its affiliated credit unions and
Vigo, which provides consumers with access to
Vigo money transfer transactions sent from the
United States to participating credit unions
throughout Kenya. World Council member Kenya
Union of Savings and Credit Cooperatives, Ltd.
(KUSCCO) and its affiliates, Kenya Bankers
Savings and Credit Co-operative Society, Ltd.,
Mwalimu Savings and Credit Cooperative (SACCO),
Baringo Teachers SACCO and Ndege Chai SACCO
comprise the current
IRnet® remittance network
"Entering the Kenyan market is really an
exciting milestone for World Council,
IRnet® Coop Kenya and the
Kenyan SACCOs," IRnet®
program manager Tiffany Kultgen said. "Providing
Kenyans with access to international remittance
services through these credit unions enables the
general population to receive greatly needed
funds from their family members in the U.S. It
also provides all Kenyans the opportunity to
deposit their money directly into a savings
account, which offers security and helps make
their remittances work for them."
Andrew Odera, IRnet®
Coop Kenya general
also sees remittances as an outreach tool to
serve the unbanked population and help attract
"We now offer an affordable alternative to
traditional money transfer organizations," Odera
said. "Additionally, members of cooperatives no
longer have to travel far to receive
remittances, as this agreement establishes
convenient locations throughout Kenya."
has focused on providing
services in Latin American and Caribbean
countries. IRnet® aims to
money transfer in Africa.
"We've been quite successful in markets where
credit unions entered before the market became
over-saturated," Kultgen said. "It gives credit
unions the opportunity to gain recognition early
on and thus position themselves as key players
in the market."
"The Kenyan remittance corridor represents a
growth opportunity for Vigo, and we welcome the
addition of World Council of Credit Unions to
our expanding network of payment locations,"
said Karen Lithgow, Vice President,
international, Vigo. "World Council and its
affiliated credit unions provide Kenyans with
convenient, trusted locations, making it easy
for them to receive money from associates,
friends or family in the United States. This,
coupled with the competitive price, speed and
reliability of Vigo's money transfer services,
establish a foundation for continued growth in
The new remittance distribution network
currently serves Athi River, Nairobi, Nyeri and
Kisumu. Vigo also offers remittance services in
Ghana, Ivory Coast, Nigeria and Sierra Leone.
World Council has been working with the Kenyan
credit union sector for more than 20 years and
with Vigo since 2000. With
IRnet®, anyone can
send money through Vigo's agents in the United
States and Canada. In addition to its payer
network in Kenya, IRnet®
approximately 900 points of service in Bolivia,
Ecuador, El Salvador, Guatemala, Honduras,
Jamaica, Mexico and Nicaragua.
About Vigo Remittance Corp.
VIGO Remittance Corp. is a subsidiary of
Union, which trades in the NYSE under ticker
symbol (WU). Vigo is a branded consumer
financial services company with 20 years of
experience in the most competitive U.S. and
international markets. It is a low-cost, high-
value provider to the consumer with superior
service levels and reach throughout the world.
Vigo is one of the largest electronic funds
transfer companies in the United States and
provides affordable and efficient payment
services with more than 4,000 agents in 45
states in the U.S. and 43 countries. For more
information, visit www.vigousa.com.
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, 51,000 credit unions in 100 countries serve 196 million people. Learn more about World Council's impact around the world at www.woccu.org.