The World Council of Credit Unions has collaborated with the US electronic funds transfer company Vigo Remittance to offer a remittance service in Kenya. Their first venture will be marked with the launch of the new program IRnet Coop.
The program will enable consumers to gain access to Vigo money transfers sent from the US to participating credit unions across Kenya – to include World Council member Kenya Union of Savings and Credit Cooperatives (KUSCCO) and its affiliates, Kenya Bankers Savings and Credit Co-operative Society, Mwalimu Savings and Credit Cooperative (SACCO) and Afya SACCO.
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 US. 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.
Traditionally, IRnet provides services to Latin America and within the Caribbean countries. Its aim is to now expand the geographic area to provide affordable money transfers to Africa.
The new remittance distribution network currently serves Athi River, Nairobi, Nyeri and Kisumu.