Western Union President & CEO Christina Gold Honored with the Excellence in Leadership Award at the Organization's Winter Award Gala
ENGLEWOOD, Colo., Feb 28, 2008 (BUSINESS WIRE) -- At its Annual Winter Gala celebrated today in Washington, D.C., the Inter-American Economic Council recognized The Western Union Company (NYSE: WU) for its leading efforts to aid the economic growth of developing nations and making a meaningful difference in the communities it serves.
Company President and CEO Christina Gold was honored by the council with the prestigious Excellence in Leadership Award for spearheading the company's initiatives in support of migrant communities worldwide.
"Western Union's commitment to stimulating economic development and ensuring the remittance industry makes a positive contribution for the betterment of society is unparalleled," said Barry Featherman, president of the Inter-American Economic Council. "With Christina Gold's leadership, Western Union has become a true partner for communities everywhere, and we're very proud to honor Western Union with this well-deserved award."
According to a joint report by the International Fund for Agricultural Development and the Inter-American Development Bank, last year migrant workers sent $68 billion in remittances to Latin America and the Caribbean. These monies have multiplier effects in reducing the costs of education and are used by families and individuals to purchase basic goods and services - opening up a critical lifeline for the region's economies and helping communities escape poverty.
As a worldwide leader in money transfer services, Western Union's capacity to assist migrants in sending money back home has provided a critical avenue for economic growth and development throughout the hemisphere.
Committed to its stance that migration should be a choice - not a necessity, the company has consistently dedicated resources to foster the growth of local communities through innovative enterprises such as the recently announced Our World, Our Family initiative - a $50 million, five-year commitment to empower migrant families through education and global economic opportunity programs - and the 4+1 Program in Mexico, among others.
Additionally, Western Union also is the first corporate donor to the United Nations Central Emergency Relief Fund and through its Foundation has provided disaster relief, through matching contributions from its employees, Agents and in some cases the company has waived transfer fees for humanitarian relief in areas of need. This commitment was demonstrated on last year's storms in Nicaragua and the Dominican Republic, as well as the earthquake in Peru.
"Remittances are one of the most effective ways to help fight poverty," said Gold. "Those who work overseas to support their families back home are transforming our world and it is important that the public and private sectors work together to maximize the positive impact of such transformation. The IAEC and Western Union share that commitment, and we are very proud to help them move forward the dialogue on economic development in the Americas."
Previous recipients of the Excellence in Leadership Award include Harriet Mayor Fulbright (President of J. William and Harriet Fulbright Center), R. Allen Stanford (Chairman & CEO of Stanford Financial Group), Fadi Nahas (Honorary Consul General of Ecuador in Turkey and CEO of NA Plus), and Gustavo Cisneros (Chairman & CEO, Cisneros Group), Ambassador Peter Romero, former Assistant Secretary of State for Western Hemisphere Affairs, among others.
The Council is committed to promoting economic development and poverty alleviation in the Caribbean and Latin America.
About the Inter-American Economic Council
The Inter-American Economic Council ("Council") was founded in 1999 as a non-profit organization based in Washington, D.C. with a focus on the Caribbean Basin and Latin America. For additional information, please visit www.inter-american.org.
About Western Union
The Western Union Company (NYSE: WU) is a leader in global money transfer services. Together with its affiliates, Orlandi Valuta, Vigo and Pago Facil, Western Union provides consumers with fast, reliable and convenient ways to send and receive money around the world, as well as send payments and purchase money orders. It operates through a network of more than 335,000 Agent locations in over 200 countries and territories. Famous for its pioneering telegraph services, the original Western Union dates back to 1851. For more information, visit www.westernunion.com.
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SOURCE: The Western Union Company
The Western Union Company Dan Diaz, 720-332-5564 Daniel.Diaz@WesternUnion.com