WOCCU, Visa Complete First Cross-Border Credit Union Remittance Pilot
By CU Today Staff —
MADISON, Wis.—The World Council of Credit Unions (WOCCU) and Visa said they have completed what they describe as one of the first cross-border digital remittance pilots connecting credit union cooperatives, allowing members of a U.S. credit union to send money directly to members of Guatemalan credit unions through debit cards.
The pilot links members of Unitus Community Credit Union with members of three Micoope-affiliated credit unions—Acredicom, Copecom and Tonantel—using Visa Direct. According to WOCCU, the initiative is designed to provide faster, more reliable remittances while helping connect recipients to the formal financial system.
"Cross-border payments are essential to families and communities around the world, but they are often difficult, costly or disconnected from the formal financial system," said Paul Treinen, president and CEO of WOCCU. "This pilot shows how credit unions, working with partners like Visa, can deliver practical digital solutions that expand financial inclusion and create lasting value for members on both sides of a remittance corridor."
WOCCU noted that Guatemala is one of the world's most remittance-dependent economies, receiving approximately $25.5 billion in remittances in 2025, equal to nearly one-fifth of the country's gross domestic product. The organizations said directing those payments to debit cards issued by credit unions could improve access to financial services for recipients.
"In this pilot, we have proven that the process, technology, and security are in place to connect credit union members from Guatemala through international remittances to the rest of the world," said Steven Stapp, president and CEO of Unitus Community Credit Union.
WOCCU said Micoope's network serves approximately 2.7 million members across Guatemala, with strong penetration in rural communities, creating an opportunity to expand financial inclusion through cooperative institutions. The organizations said the pilot could serve as a model for additional cross-border remittance corridors involving credit unions in other countries.
Originally reported by CU Today.