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Migrants Sent More Than US$601B to Home Countries Last Year
Tuesday, December 13, 2016 6:30 AM

New Filene research shows international remittances offer an opportunity for credit unions to attract new members and offer an essential financial service at lower rates. In order to move forward successfully, credit unions will need to do several things well:

  • Think from the recipient’s perspective.
    Understand how, when, and where recipients want to receive money transfers. 
  • Choose the right partners.
    Choose appropriate distribution networks or financial institutions to connect with for transferring and distributing funds.
  • Build a deep level of trust among senders.
    Make a concerted effort to understand the culture and financial needs of migrant workers and market your products accordingly.

Learn more here.