Using remittances to build financial relationships with credit unions

• Autores: David Grace
• Localización: Enterprise development & microfinance, ISSN 1755-1978, Vol. 15, Nº. 1, 2004, págs. 35-43
• Idioma: inglés
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• Resumen

  • Apart from fee income, remittance services offer formal financial institutions the potential of building relationships with unbanked people which often leads to them opening deposit accounts. This article describes how and why the World Council of Credit Union's (WOCCU) member credit unions in Central America began offering remittances in the 1990s. It analyses their current and potential impact on the market at both the originating and distributing side and draws lessons from its experience.