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Western Union

Provides money transfer and payment services worldwide.

Headquarters:
6200 South Quebec Street
Greenwood Village, CO 80111
Employees: 8,800
CEO: Hikmet Ersek
Stock Symbol: WU

Website: http://www.westernunion.com

Career Site

The Western Union Company is a leading provider of global money transfer services. Together with its affiliates, Orlandi Valuta and Vigo, 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.

The service lets immigrants easily send money back to their home countries for a transaction fee. Western Union operates through a network of over 510,000 Agent locations in over 200 countries and territories. The company makes money through fees charged for sending money.

Western Union became a separately traded company in 2006 after being spunoff by First Data Corp.

Vigo Money Transfer was acquired in 2005 and is one of the largest money transmitters worldwide. Vigo holds one of the largest market shares in the U.S. to Latin America corridor.

Orlandi Valuta is a subsidiary of Western Union. Established in 1986, Orlandi Valuta offers international money transfers from the United States to locations in El Salvador, Honduras, Guatemala, Colombia, Ecuador, Peru and all 32 states in Mexico.

Western Union reported revenues of $5.5 billion in 2011, a 6% increase, and net income of $1.16 billion.

In 2011, The Western Union Company completed 225.7 million consumer-to-consumer transactions worldwide, moving $81.3 billion of principal between consumers with an average transaction of $360. The Global Business Payments division saw a total of 425 million business payments in 2011.

History

1851 - A group of businessmen in Rochester, NY form The New York and Mississippi Valley Printing Telegraph Company - Western Union's predecessor company.

1856 - The New York and Mississippi Valley Printing Telegraph Company changes its name to The Western Union Telegraph Company, signifying the union of "western" telegraph lines with eastern lines into one system.

1861 - Western Union completes the first transcontinental telegraph line, providing fast, coast-to-coast communications during the U.S. Civil War.

1869 - Western Union introduces the first stock ticker, providing brokerage firms with New York Stock Exchange quotations.

1870 - Western Union launches a time service, helping to standardize time nationally. Western Union holds the distinction as "The Nation's Timekeeper" for nearly a century.

1871 -Western Union Money Transfer service was introduced and became the company's primary business.

1884 - Western Union is selected as one of the original 11 stocks tracked in the first Dow Jones Average.

1914 - Western Union introduces the first consumer charge card.

1920 - Western Union introduces teletypewriters, joining branches and individual companies.

1933 - Singing telegrams are introduced.

1935 - The first inter-city facsimile service is introduced.

1943 - Western Union pioneers the first commercial inter-city microwave system.

1958 - Western Union introduces Telex, a direct-dial consumer to consumer teleprinter service.

1964 - Western Union launches the use of a transcontinental microwave radio beam system, replacing poles and wires spanning the continent.

1970 - Western Union MailGram messages offer next-day delivery through the postal service.

1974 - Western Union launches Westar I, the first commercial communications satellite in the United States.

1980 - Revenue from the Money Transfer service (originally known as money order service) exceeds that from the telegram service for the first time in Western Union history.

1982 - Western Union is the first company with five satellites in orbit.

1989 - Quick Collect provides creditors a service for securing fast collection of payments via flat-rate money transfers. Rapid Money Transfer service becomes available outside North America.

1992 - Western Union Money OrderS service provides customers with a fast, easy way to get money orders.

1993 - Dinero en Minutos (Money in MinutesSM) service is introduced, making funds sent to Mexico from the U.S. available in minutes.

1993 - The Western Union Phone Card service is the first branded, pre-paid, and disposable telephone card offered in the United States.

1994 - First Financial Management Corporation acquires Western Union Financial Services, Inc.

1995 - First Financial Management Corporation completes a $7 billion merger with First Data Corporation (NYSE: FDC). Western Union Financial Services, Inc. becomes a First Data Corporation subsidiary.

1996 - Western Union opens its North America headquarters in Englewood, CO. International presence continues to expand with new regional offices in Paris, Vienna, and Hong Kong.

1998 - The Western Union Money Transfer service expands to reach 50,000 Agent locations worldwide, the world's largest money-transfer network. International Regional Operating Centers open in Brussels and Costa Rica.

1999 - By the end of the year, there are more than 80,000 Western Union Agent locations in more than 140 countries and territories around the globe.

2000 - Western Union launches westernunion.com, bringing the convenience of money transfer to the Internet.

2001 - Western Union celebrates its 150-year anniversary by reaching more than 100,000 Agent locations worldwide.

2005 - The Western Union Agent network, combined with subsidiary Orlandi Valuta, exceeds 250,000 locations.

2006 - Western Union discontinues its telegram service, completing its transformation to a financial services company.

Benefits

* Medical
* Dental
* Vision
* Employee Assistance Plan
* Flexible Spending Accounts
* Life Insurance
* Business Travel Accident Insurance
* Short and Long-Term Disability
* Legal Assistance Plan
* Long-Term Care Insurance
* Auto and Home Insurance
* 401K
* Tuition Assistance
* Adoption Assistance
* Service year Anniversary Program
* Scholarship Award Program
* Gift Matching Program
* Holiday Club
* Employee Discount Program
* Coupons for Western Union products and services

Updated October 1, 2012