The Washington Post: Credit Unions Help Drive Down Remittance Costs
An article in today's issue of The
Post recognized the role of credit unions in
reducing the cost of sending remittances.
The article expanded upon a report presented
today by the Inter-American Development Bank and
the Annie E. Casey Foundation, which discussed
findings on cost, competition and financial
access related to remittance flow in Latin
America and the Caribbean.
According to Manuel Orozco, author of the
the costs of sending remittances have
significantly dropped in the past several years
due to competition. Credit unions were noted for
helping to drive down costs and provide greater
access to financial services for the poor.
In the article, World Council's Dave Grace
emphasized the important role of credit unions in
providing financial services along with
Full article available at The Washington Post on-
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.