23.06.2006 12:00:00
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Western Union Expands Initiative to Promote Community, Economic Development in Mexico; Mexican State of Michoacan the Second State to Benefit from 4x1 Program
Western Union will contribute a total of $1.25 million to theprogram, with $250,000 earmarked for each participating state in theprogram. With Western Union's participation, the 4x1 Program builds onthe success of Mexico's current 3x1 program, in which each governmentjurisdiction (local, state and federal) matches remittances made byU.S.-based Mexican hometown associations to communities in Mexico.
The 4x1 program helps fund development projects in Mexicancommunities that experience high levels of migration and poverty. WithWestern Union's contribution, the 4x1 Program has the potential toleverage $5 million in funding for development projects in Mexico. Thetypes of job-creating projects that will qualify for funding includeagricultural infrastructure, natural resources conservation efforts,community-based economic development projects such as structuralimprovements or technical upgrades to existing small businesses,educational facilities and health care centers. Through an openapplication process, Western Union will review proposals from hometownassociations for development projects in Mexico and match donationsmade by the associations for selected projects.
As the first private-sector company to participate in the program,Western Union will join hometown associations (HTAs) of Mexicanmigrants living in the U.S. and local, state and federal jurisdictionsof the Mexican government to improve economic opportunity and qualityof life in communities throughout Mexico.
"The 4x1 program provides an innovative solution to a challengingissue," said Christina Gold, President, Western Union. "Working withMichoacan Governor Lazaro Cardenas Batel and Mexican hometownassociations in California, Texas, Illinois, Nevada, and Alaska,Western Union will play an important role in strengthening communitiesand creating valuable job opportunities for people living indisadvantaged and underserved areas in Mexico."
The 4x1 Program evolved from remittances made by HTAs of Mexicansliving in the U.S. to their families and communities in Mexico.According to the Institute for Mexicans Abroad (IME) there areapproximately 583 Mexican HTAs located in 30 states in the U.S.
About Western Union and First Data
First Data Corp. (NYSE: FDC) is a leading provider of electroniccommerce and payment solutions for businesses and consumers worldwide.Serving 4.6 million merchant locations, 1,600 card issuers andmillions of consumers, First Data powers the global economy by makingit easy, fast and secure for people and businesses around the world tobuy goods and services using virtually any form of payment. Thecompany's portfolio of services and solutions includes credit, debit,private-label, gift and other prepaid card issuing and merchanttransaction processing services; money transfer services; moneyorders; fraud protection and authentication solutions; check guaranteeand verification services through TeleCheck; as well as Internetcommerce and mobile solutions. Western Union, together with itsaffiliates Orlandi Valuta and Vigo, are leaders in global moneytransfer, providing people with fast, reliable and convenient ways tosend money around the world, pay bills and purchase money ordersthrough a network of over 270,000 agent locations in more than 200countries and territories. The company's STAR Network offersPIN-secured debit acceptance at 1.9 million ATM and retail locations.For more information, visit www.firstdata.com.
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