Washington – Today key provisions of legislation by Rep. Joe Baca (D-Rialto) to provide international remittance services to non-members of credit unions advanced in the U.S. House of Representatives.

By unanimous consent, the House Financial Services Committee approved a proposal by Rep. Baca to extend international remittance services to individuals who are not members of a credit union, but who are in the field of membership. For example, individuals in professions served by Arrowhead Credit Union or the Golden 1 Credit Union, could use the credit union’s services without being a member.

Rep. Baca’s proposal, the Baca-Gutierrez Amendment, was amended to legislation adopted by the Financial Services Committee, H.R. 749, the Expanded Access to Financial Services Act of 2005. Rep. Baca reintroduced legislation earlier in March that would allow credit unions to offer their services to all individuals, including those not in the field of membership.

Remittances allow individuals who do not have traditional access to bank to wire funds to family, often in other countries. In 2004, Californians sent $9.6 billion in remittances to Latin America – an average of 11 times a year per person.

“Unfortunately, the cost of sending remittances can be very high. This proposal will open up the marketplace, providing lower-cost services to these individuals,” said Rep. Baca. “This legislation will help underserved individuals in our communities. This is about greater access.”

The effort to pass the provisions was the culmination of an effort that has spanned two sessions of Congress. Rep. Baca still intends to push for the passage of all the provisions in his bill H.R. 1003, the Financial Services For All Act.

“I will keep fighting for this bill until it is signed into law and people can enjoy lower-cost remittance services,” said Rep. Baca. “It is a commitment that we have made to the underserved in our district and throughout the nation.”

H.R. 749 with the Baca-Gutierrez amendment, must now be considered by the full U.S. House of Representatives.