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American Money Transfer is relatively new to the money transfer game. Founded in 1998 by Dr. Fernando Molina, the company has offices in 15 states, primarily across the Midwest and southeast.
Molina, whose family made its fortune by building a soft-drink empire in Mexico, has both a business and a medical degree. While licensed to practice as a surgeon, Molina, 37, has spent most of his time in business. Money transfers, he says, in addition to being profitable, are a way to give back to his country.
"I'm Mexican. I want to help my people," he says. "If this helps all the companies put down their rates, I think we are already accomplishing one of the goals."
Phoenix is an attractive market, he says, because of the city's Hispanic population, which ranks in the top 10 nationally in terms of consumer dollars and numbers of people.
"It's going to be a hub," he says of the company's decision to relocate.
As for La Campesina and the farmworkers' union, Molina says they share his desire to help not only migrant workers, but Mexicans in general. That's one reason he is willing to give the union additional money, such as the annual donation, for its support in helping American Money Transfer get established.
"We are going to make a donation from each wire to help a better way of living," Molina says. "It's going to be handled by them [UFW] because they know exactly what areas have more need. They know the necessities of the people."