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Western Union and Producers Bank Renew Relationship

·3 mins read

Long Term Money-Transfer Collaboration Connects the Philippines to the World

Western Union, a leader in cross-border, cross-currency money movement and payments, has renewed its relationship with Producers Savings Bank Corporation (also known as Producers Bank).

With the renewed agreement, customers in the Philippines will continue to have access to convenient money transfer services, enabling them to send and receive money to and from their loved ones around the world. Western Union service is currently available at more than 250 Producers Bank retail locations.

"We are excited to continue to foster a strong relationship with Producers Bank, enabling us to connect communities in the country to their loved ones across the globe," said Jeffrey Navarro, Head of Network, Philippines, Malaysia, Brunei & Indochina, Western Union. "Moving money to urban, remote and rural settings with convenience is a top priority for Western Union. We look forward to our continued collaboration, so we can meet our customers physically wherever they are, no matter how remote."

"We are very pleased to renew our successful relationship with Western Union," said Andres Cornejo, President & CEO, Producers Bank. "Western Union is truly a global company with an extensive network worldwide, and together we have a clear, shared vision of what we collectively hope to accomplish – and that is connecting families and improving lives in the Philippines. Also, via our network in the Philippines, we are excited to continue to reach out to farmers and SMEs even in the most remote locations and provide them with access to convenient money transfer services."

Western Union has been providing money transfer services in the Philippines since 1990. Today, it serves customers from a large network of Agent locations offering convenience to customers in the country. Customers are advised to check the Agent Locator link for the status of the nearest locations.

About Western Union

The Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement and payments. Our omnichannel platform connects the digital and physical worlds and makes it possible for consumers and businesses to send and receive money and make payments with speed, ease, and reliability. As of June 30, 2020, our network included over 550,000 retail agent locations offering our branded services in more than 200 countries and territories, with the capability to send money to billions of accounts. Additionally, westernunion.com, our fastest growing channel in 2019, is available in over 75 countries, plus additional territories, to move money around the world. With our global reach, Western Union moves money for better, connecting family, friends, and businesses to enable financial inclusion and support economic growth. For more information, visit www.westernunion.com.

About Producers Bank

The Producers Bank Group, currently the biggest standalone Thrift bank in terms of branch network with over 200 branches, is also the biggest lender to individual rice farmers, Teachers and SMEs in the Philippines today. It is focused on the countryside with preference to areas not served and underserved by the large Banks and has in fact opened branches where the local community bank was closed by the Bangko Sentral Ng Pilipinas (BSP).

In its 25 years of existence, Producers Bank has achieved many firsts – the most notable of which are – it is the first Rural Bank with Head Office in Metro Manila to be upgraded to thrift bank status since the enactment of the General Banking Law of 2000 – and it is the first thrift bank to be accredited by BSP as an Accredited Rural financial Institution under RA 10000 and BSP Circular 736. Focusing on the Countryside has enabled Producers Bank to achieve double bottom line results – protect farmers from unscrupulous traders and from their counterpart in the ASEAN and achieve above-industry return on equity.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200825005518/en/

Contacts

Western Union Asia-Pacific
Karen Santos; Karen.Santos2@westernunion.com

Producers Bank
Marigold C. Rivera;
0933-854-3524
(044) 464-2688