UNION FINANCIAR TIRANË, 25 years close to clients in the financial services market
On October 23, 1995, Union Financiar Tiranë (UFT), the representative of Western Union Financial Services INC. in Albania, completed the first money transfer in the country.
Union Financiar Tiranë has been close to Albanians since the first years of the country’s transition, when Albanians liberated from years of isolation and poverty emigrated in large numbers across the world in search of a better life. Wherever they settled, Albanians kept providing for families and relatives in Albania with Western Union money transfers.
The state-owned banks, which operated during those years in Albania, were engaged in transforming into commercial banks adjusting to the market economy format. As a result, they had little time / interest to offer new services suitable for this type of client. The Western Union service became practically the only service that allowed immigrants, wherever they were, to connect with their families.
Very soon, UFT expanded to all Albanian-speaking areas. In 1998, the representation agreement with Western Union Financial Services Inc for Northern Macedonia was signed, and in 2000, the first branch was opened in Kosovo. In 2005, a representation agreement with Western Union Financial Services Inc. was signed for money transfer service in Switzerland and in 2016, UFT launched Western Union services in the Croatian market as well.
Today, we are proud that, during these 25 years, UFT has completed more than tens of millions of transfers in Albania, enabling the entry of several billion euros in remittances from emigrants, from more than 220 countries (or territories) in the world.
During this journey, Union Financiar Tiranë is proud to be a partner of Western Union, a company which, not only has a history of hundreds of years of success, but it is also one of the living examples of transformation, in line with customer needs and technological developments. Now, Western Union money transfers can be made online from Albania, as well as from about 80 other countries in the world, bringing another innovation for the Albanian market, even 25 years after the start of service. Adapting to customer needs, embracing innovation, and continuous diversification will always be our main priorities.
In addition to Western Union money transfers, today clients find all the necessary payment services for the household in our locations, creating accordingly opportunities to pay their duties. UFT has continuously expanded the network of “Unionnet – Western Union” locations in order to be as close as possible to the client, and to provide quality and high standard services, becoming the market benchmark for the payment services industry.
Currently, the companies of the group employ about 1000 professionals and support staff, who advance our mission with hard work and dedication.
On the jubilee of this quarter century, we are proud of our achievements. We have grown and changed a lot. During these years, Union Financiar Tiranë has become an undisputed leader in the field of money transfers and financial services. It has also gradually diversified and expanded in Albania, the region and beyond, through continuous investments for the establishment and evolution of several important financial institutions such as Union Bank, LandesLease, Paylink and other initiatives, which have contributed and continue to strengthen the Albanian financial system.
From the beginning until today, our accompanying values in business have always been and remain, correctness and responsibility in providing our services to customers,in full compliance with the legal framework and service parameters, in full transparency in every aspect of our business, with social responsibility and continuous contribution to the community, and last but not least, based on stable relationships with our staff and partners.
Today, as we celebrate this anniversary of the beginning of a journey that has brought us here, we feel obliged to express our sincere appreciations to our customers, staff and partners, for all the help and support during these 25 years. And, at the same time, we promise that we will continue with supreme commitment to respect and preserve the values that have brought this success!
ABOUT THE FINANCIAL UNION TIRANA
Union Fiananciar Tiranë is the sole agent of Western Union Financial Services Inc. for Albania, since 1995. With fast, secure and reliable financial services, UFT operates in Albania, Kosovo, Northern Macedonia, Croatia and Switzerland. In Albania, we have provided the widest network of financial service delivery points throughout the country. With over 600 Unionnet – Western Union locations, we provide all payments at just one stop.
Union Fiananciar Tiranë has a diversified portfolio in Albania and abroad. In 2006, UFT established Union Bank, as a bank with 100% Albanian capital and in 2012, PayLink was established, a technology and processing company for interbank payments, also from 100% UFT investment. Contributing to the support of start-ups and innovative market services is and will continue to be part of our DNA.