Products and Services Offered Through This Provider

Money Transfer Services, ExpressPaymentMoney Orders and Official Checks

Who is MoneyGram?

MoneyGram is committed to helping people and businesses by providing affordable, reliable and convenient payment services. An international company, MoneyGram has more than 190,000 locations in 190 countries and territories, allowing credit union members to economically and efficiently move money around the world, or close to home. One of our oldest alliance relationships, MoneyGram has had a strategic alliance with CUNA Strategic Services to offer value-priced transaction services for credit unions for more than 30 years.

How do credit unions benefit from this strategic alliance?

MoneyGram is well-positioned to assist credit unions in meeting the needs of the unbanked and underserved. The company is a global leader in wire transfers and the largest money order provider in the world. They can help your credit union attract and retain underserved populations, providing those critical first services that help you turn them into loyal, profitable members.

Why this provider over another?

Credit unions that outsource transaction services with MoneyGram are able to offer a comprehensive program which frees up staff time and guarantees compliance. The program is fully-supported by MoneyGram, and backed by their nearly 70 years of expertise, their 190,000 agent locations and presence in 190 countries.

Ready to get started?

  • Contact Brenda Halverson, CSS alliance manager, at 800-356-9655, ext. 4110, or email her at bhalverson@cuna.com.   

More Information About MoneyGram Products and Solutions

Money Transfer Services
MoneyGram stands out in the marketplace as the money transfer service that delivers the greatest value to credit union members. The service typically costs less than a Western Union transaction, which is important because, generally speaking, the people utilizing this service are the least able to absorb high transaction fees. MoneyGram also offers additional value to members such as a free 3-minute call and a 10-word message to accompany funds, for transactions in the Western Hemisphere.

The credit union can conduct send, receive and express payment transactions, drawing unbanked or underserved individuals into the branch, generating revenue for the credit union through commissions paid to them by MoneyGram. Program features include:

  • Global transaction network; 190,000 agent locations in 190 countries and territories
  • 24/7 multi-lingual customer service
  • Funds available within 10 minutes
  • Guaranteed funds to the member
  • Proven AML and compliance programs

ExpressPayment®
MoneyGram ExpressPayment service helps your members by making bill payments a lot less stressful. With the ExpressPayment service from MoneyGram, you can give members a critical, last minute cash payment option when a bill has to be expedited for payment.  Mortgages, credit cards, auto loans and more can be quickly paid from your credit union using MoneyGram, helping members to avoid costly late fees.  Plus members can easily load money onto hundreds of prepaid cards using MoneyGram ExpressPayment service.
 

Members pay their bills or load their prepaid cards using cash and notification of payment is made to their company within minutes.*


Money Orders and Official Checks
Your program can include money orders, official checks or both. You receive:

  • Paymaster check writing equipment
  • Marketing materials such as window decals, posters, ad slicks and sample newsletter articles
  • Forms, supplies and everything needed to run your program on a daily basis
  • Dedicated customer service representatives to answer questions, trace money orders and assist with photocopies and stop payments
  • Fraud protection system to protect your documents against fraudulent use
  • Back-office processing to ensure your money orders are processed, imaged and stored
  • Research and tracking of lost or stolen money orders
  • Automatic transmission, with information sent directly to MoneyGram for processing; settlement can be made via ACH or wire transfer
  • Complete compliance with the escheatment laws of your state; MoneyGram stores cleared money orders for the required seven-year period
  • MoneyGram money orders prominently display the America’s Credit Unions logo and each is payable in any amount up to $1,000
  • Your money order supply is kept current with automatic inventory replenishment
  • If any component stops working, MoneyGram replaces it for FREE! The only charge to your credit union is a small per-item fee

An additional benefit to the Official Check program is fee income to your credit union;
you earn fees on your outstanding official checks until they clear!

* Bill payment notification made within ten minutes.  Actual payment posting time may vary by biller.

 
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