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4-Traders Homepage  >  Equities  >  Nyse  >  Western Union    WU

WESTERN UNION (WU)
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Western Union : Aqua to halt in-person payments

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05/18/2017 | 09:18pm CEST

May 18--DANVILLE -- In 2006, Aqua Illinois officials said about 42 percent of the water company's 18,000 city customers pay their bills in person.

Today, that number is 11-12 percent, according to Aqua Illinois Area Manager Bob Ervin.

"It's a smaller group of people utilizing it and it's expensive to maintain a full-time person and backups ...," Ervin said.

Ervin gave an update on Aqua Illinois projects and also told the Danville City Council Tuesday night Aqua's Gilbert Street office is phasing out in-person payments for water bills starting July 17.

Aqua is pushing other payment options: by phone, online, direct payments from checking accounts and by mail in addition to Western Union payment locations.

"There's a certain part of our customer base that feels comfortable giving it to someone," Ervin said of their water bills.

Over the years, the Aqua Illinois drive-up window also has been a safety concern with backed-up vehicles onto Gilbert Street.

Ervin said Aqua has a staffed payment process site in New Jersey.

When they maintain that staffing at the local level, there's a smaller group of people who could be utilized to do other things, he said. This is not the best use of local resources and they are looking to do things more efficiently, he said.

"We're trying to get the remaining (customers) to use a more cost-effective measure," he said. "We're looking to utilize those resources for other functions."

Ervin said there would not be any employee layoffs, but they would realign the employees.

Aqua is doing more statewide and using staff to do things outside of this division, he added.

If a customer still wants to hand a bill to a person they can pay a one-time set up charge at a Western Union location. One is not far from the Aqua Gilbert Street office.

Local Western Union locations include: First Payday Loans, 1 N. Gilbert St.; Check 'n Go, 22 E. West Newell Road; Ace Cash Express, 4111 N. Vermilion St.; and Westville 66, 1717 N. State St.

Aqua employees still will be available to answer questions.

They hope for a smooth transition and will help customers, Ervin said.

"We want to transition our customers, the ones accustomed to coming in, if they are interested in signing up for the other payment options," he said.

___

(c)2017 the Commercial-News (Danville, Ill.)

Visit the Commercial-News (Danville, Ill.) at www.commercial-news.com

Distributed by Tribune Content Agency, LLC.

© Tribune Content Agency, source Regional News

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Financials ($)
Sales 2018 5 711 M
EBIT 2018 1 123 M
Net income 2018 824 M
Debt 2018 -
Yield 2018 3,92%
P/E ratio 2018 10,28
P/E ratio 2019 9,77
Capi. / Sales 2018 1,54x
Capi. / Sales 2019 1,51x
Capitalization 8 816 M
Chart WESTERN UNION
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Western Union Technical Analysis Chart | WU | US9598021098 | 4-Traders
Technical analysis trends WESTERN UNION
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 18
Average target price 20,7 $
Spread / Average Target 8,7%
EPS Revisions
Managers
NameTitle
Hikmet Ersek President, Chief Executive Officer & Director
Jeffrey A. Joerres Non-Executive Chairman
Rajesh K. Agrawal Chief Financial Officer & Executive Vice President
Sheri Rhodes Chief Technology Officer & Executive VP
Betsy DeHaas Holden Independent Non-Executive Director
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