MoneyGram Renews Agreement with Launch Federal Credit Union to Offer Official Check Services

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Oct 07, 2015, 05:37 ET

DALLAS, Oct. 7, 2015 /PRNewswire/ -- MoneyGram (NASDAQ: MGI), a global provider of innovative money transfer and payment services, announces that it has renewed an agreement with Launch Federal Credit Union to provide official check services at all of the credit union's locations.

"MoneyGram offers one of the most comprehensive official check programs in the industry, and we are pleased that Launch is placing its trust in us," says Pete Ohser, MoneyGram's executive vice president, business development. "With MoneyGram's service and support, the credit union can continue to be more efficient in daily balancing, reconciliation and fraud detection."

Launch Federal Credit Union is based in Merritt Island, Florida. It has over $679 million in assets and more than 62,000 members.

"We are excited to work with MoneyGram to help us manage our official check program and streamline our services," says Kevin Lebeau, vice president, chief financial officer of Launch Federal Credit Union. "More efficient business operations allow us to focus on the most important part of our business, our customers."

MoneyGram has provided official check outsourcing to financial institutions since 1979. It offers a full suite of services from inventory management, real-time updates and daily balancing and reconciliation for less than the cost of most in-house programs.

About MoneyGram International, Inc.
MoneyGram is a global provider of innovative money transfer and payment services and is recognized worldwide as a financial connection to friends and family. Whether online, or through a mobile device, at a kiosk or in a local store, we connect consumers any way that is convenient for them. We also provide bill payment services, issue money orders and process official checks in select markets. More information about MoneyGram International, Inc. is available at moneygram.com.

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SOURCE MoneyGram