Western Union, US Bank to Partner for Money Transfer Services

The signing of U.S. Bank is an important step in Western Union's North America "go-to-market" strategy by entering into new classes of trade. As Western Union expands its service offerings, in an effort to strongly position money transfers to consumers, it is tapping into consumer banking channels including: Cash-to-Cash, Account-to-Cash, and Account-to-Account.

"U.S. Bank is pleased to join Western Union's global money transfer network," said Richard Davis, chairman, president and chief executive officer of U.S. Bancorp. "This relationship brings together two historic American companies - U.S. Bank, chartered in 1863, and Western Union, with roots dating back to 1851 - to provide Western Union's unmatched distribution and market strength through our network of 2,791 U.S. Bank branch offices. We look forward to a great future together."

In 2008, Western Union completed more than 188 million consumer-to-consumer transactions worldwide.

Stewart Stockdale, executive vice president and president, The Americas for Western Union, added, "The prevailing need for banked and un-banked consumers to send money around the corner and the world brings a significant partnership opportunity to both U.S. Bank and Western Union. Together, our businesses provide valuable services to our consumers."

"U.S. Bank is a leading edge financial services institution. Our agreement with U.S. Bank is part of Western Union's new focus on identifying and driving the development of best-in-class services to expand the company's business to new consumer segments in the United States."

The Western Union(R) global money-transfer service will be available at U.S. Bank locations as soon as May 2009. U.S. Bank walk-in consumers will be able to send domestic or international money transfers for payout in 200 countries and territories. Plans also include expanding Western Union's services to U.S. Bank online consumers.