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CSS MoneyGram offer money transfer services

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MINNEAPOLIS (10/2/09)--CUNA Strategic Services (CSS) and MoneyGram International announced they will provide 7,900 credit unions access to MoneyGram’s global money transfer and bill payment services. CSS has offered MoneyGram money order services to credit unions for more than 35 years. Under the agreement, the credit unions--which represent 21,000 individual branches--can implement the money transfer and bill payment service. Once implemented, the credit unions will be connected to 180,000 agent locations in more than 190 countries and territories for money transfer services. MoneyGram ExpressPayment services also are available for payments to 2,000 U.S. billers, including auto and mortgage lenders. About 90% of credit unions do not offer global money transfer services, said Tim Summers, general manager of Consumer Products--Americas. An Aite Group survey cited by the companies also indicates that 85% of credit unions have increased their deposits over last year and 70% are working to attract deposits from banks. “Last year, more than 6,000 credit unions implemented solutions offered via CUNA Strategic Services’ partnerships,” said Wes Millar, CSS senior vice president. “Expanding our relationship with MoneyGram to money transfer and bill payment services provides an instant opportunity for credit unions to enhance their products.”