CUANM offers Worldwide Remit remittance solution
NEW YORK, March 25, 2010 — BNY Mellon and the Credit Union Association of New Mexico (CUANM) announced that CUANM will expand credit union access to BNY Mellon’s Remit Worldwide global remittance solution to credit unions in New Mexico and nationwide on a white-label basis
Remit World
wideSM is a robust global remittance solution that will enable credit unions to offer global remittances as a new member service. A major form of cross border funds transfer, remittances provide credit unions and banks with an important opportunity to expand their product and service offerings to customers interested in remitting funds to beneficiaries abroad.
“Enabling credit unions to provide global remittances as a new customer service provides us with a superior product that is important to the underserved new immigrant community. This group comprises a significant and rapidly growing consumer group that credit unions are committed to serving. We look forward to working with BNY Mellon to provide this easy-to-use remittance product to credit unions throughout the country,” said CUANM CEO Sylvia Lyon.
“We know from experience that remitters welcome the opportunity to send funds to beneficiaries in the safety, security and reliability of a credit union environment,” said Wendy Miller, head of multicurrency services for BNY Mellon Treasury Services. “CUANM’s commitment to Remit Worldwide gives us an exciting opportunity to expand not just the reach of our solution, but also to enhance its user friendliness from a client credit union perspective.”
First established in 1958, CUANM is a trade organization that helps credit unions throughout the state address member needs through services, products, education and advocacy. CUANM is committed to offering outreach opportunities to credit unions and has a history of providing relevant products and services to credit unions across the United States and Canada through their award winning Kirby Kangaroo® and CU Succeed Teen Financial Network® youth programs. “The ability to add Remit Worldwide to the suite of outreach products we offer credit unions is very exciting” said Mike Athens, CUANM vice president of Association Services. Remit Worldwide will be marketed by CUANM as Worldwide RemitSM.
With locations in 34 countries on six continents and a network of more than 2,000 correspondent financial institutions, The Bank of New York Mellon’s Treasury Services group delivers high-quality performance in global payments, trade services, cash management, capital markets, foreign exchange and derivatives. It helps clients optimize cash flow, manage liquidity and make payments more efficiently around the world in more than 100 currencies. The Company is a top-five participant in both the CHIPS and overall funds transfer markets, and was recognized by Global Finance magazine in 2008 as the leading provider of white-label treasury products and services for banks and other large institutional clients.
BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $22.3 trillion in assets under custody and administration, $1.1 trillion in assets under management, services $12.0 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day.
For more information about Worldwide RemitSM global remittance solution, contact García-Miera at 505-270-9546 or via e-mail at This e-mail address is being protected from spambots. You need JavaScript enabled to view it . Find out more about CUANM and Worldwide Remit.