When the United Nations Federal Credit Union (UNFCU) wanted a better way for their members to transfer funds from their UNFCU accounts into Kenyan M-Pesa accounts, they came to Transpay seeking a streamlined solution.
Transpay had the answer. Using Transpay’s Local Bank Transfer network, the UNFCU has become the first credit union in the U.S. to offer its members the ability to transfer funds directly and securely to M-Pesa accounts. What used to take three to five days is now accomplished usually within 24 hours.
UNFCU’s volume of M-Pesa transfers to Kenya using Transpay’s Local Bank Transfer network more than tripled within three months of launching.
“We’ve seen significant growth through this channel as members realize that it’s almost as easy to do business through their UNFCU accounts as through their local bank accounts,” says Bill Thomas, First Vice President of Member Operations, who oversees payments, cards, and a 24/7 contact center.
UNFCU offers a full suite of banking products and services designed for the mobile lifestyle of the global UN community. Headquartered in New York, UNFCU was founded in 1947 by 13 UN staff members. Today, UNFCU has more than 130,000 members worldwide with representative offices in Austria, Italy, Kenya, Switzerland and Uganda.