Credit unions offer online international money transfer

For Immediate Release
Tuesday, November 22, 2016

Credit unions offer convenient online international money transfer service

Libro and First Calgary Financial members can now send international money transfers quickly with Western Union® Money Transfers via Interac e-Transfer®

VANCOUVER, British Columbia - Today, Central 1 Credit Union (Central1) announced that two of its credit union clients are the first to offer their members Western Union Money Transfer® services via Interac e-Transfer® through Central 1.

Members of Libro Credit Union, based in London, Ont., and First Calgary Financial, based in Calgary, can use the Interac e-Transfer® service to quickly and easily send international money transfers to family and friends to be paid at more than 550,000 Western Union Agent locations around the world.

Members will be able to send money through their online banking portal to Western Union Agent locations in over 200 countries and territories, and feel confident that it will arrive securely for the recipient to collect in cash.

"The integration with Interac e-Transfer® means that members are no longer reliant on bank wires to send money," says Shelley Vandenberg, President of First Calgary Financial, a division of Connect First Credit Union. "Our members will not have to go in to a branch to send their international transfers - they can do it from anywhere they do their online banking."

"This is just another way credit unions can be competitive to service our members wherever they are," adds Scott Ferguson, EVP Information Systems at Libro. "It aligns with our vision and strategic initiatives as we work to transform banking and grow prosperity in southwestern Ontario."

"We appreciate the work and guidance of Libro and First Calgary Financial who played a key role in helping us bring this important service to credit unions and their members," says Kelly West, AVP of Product Management at Central 1. "We know that individuals who send international transfers will enjoy the convenience of being able to send it directly from their credit union account and the comfort of their own home."

There is no need to set up new accounts, user IDs or passwords. Members of credit unions using the service can get started immediately from the convenience of their online banking site. With Western Union Money Transfers via Interac e-Transfer® an international transfer can be processed and available for collection at a Western Union location within minutes.

About Central 1

With offices in Vancouver, Mississauga and Toronto, Central 1 holds on balance sheet approximately $15.7 billion in assets. We provide wholesale financial products, trust services, payment processing solutions and direct banking services to almost 300 credit unions and institutional clients from coast to coast.

In addition, Central 1 is the primary liquidity manager, payments provider and trade association for our 42 member credit unions in B.C. and 72 Ontario member credit unions. Our members represent a consumer-oriented, full-service retail financial system that collectively serves 3.3 million members and holds more than $112 billion in assets. For more information, visit central1.com.


About Libro Credit Union

Libro is Ontario's third largest credit union with $4 billion in assets under administration and more than 103,000 Owners across southwestern Ontario and has been recognized as a 2016 & 2017 Platinum Level Aon Best Employer in Canada. As a co-operative financial institution with more than 70 years of history, Libro supports the well-being of people, businesses and communities by providing high-quality financial coaching and profit sharing. Libro is proud to support The Prosperity Project, which aims to grow prosperity in southwestern Ontario by mobilizing and inspiring collaboration, strengthening the financial health of people, families and businesses, and investing in our communities to help the region prosper together. Libro offers a full range of financial products and services for consumers, businesses and farms, including savings and chequing, investing, and borrowing. Great service can be experienced through 31 branches, online, telephone, mobile devices and a network of 4,000 ATMs across Canada.

For further information or to set-up an interview, please contact:

Mike Donachie, Communications Manager
Libro Credit Union
P: 519-672-0130 ext. 4344
Mike.Donachie@libro.ca