A Brief History of Western Union

For more than a century, western union has been a name synonymous with sending money. The company has grown to encompass a broad range of services in its modern business operations, but domestic and international money transfers still comprise the core of the Western Union brand.

In 1843, Samuel F. B. Morse sent the first telegraph message, “What hath God wrought?” through a telegraph line running from Washington, D.C. to Baltimore. This was followed by a telegraph line that ran from Baltimore to New York City, then on to Rochester, New York. The telegraph service was a significant innovation that brought about the modern world of communication.

The success of the telegraph line led to other lines being established across the country. By 1857, Western Union was involved in the ‘treaty of six nations’ which brought together the largest telegraph companies to form a network that allowed each to operate its own line but share the larger main lines. Over the next several years, Western Union absorbed its rivals until it had a virtual monopoly on the American telegraph industry.

Throughout its history, Western Union has adapted and expanded to meet the needs of the times. In addition to delivering messages across the globe, the company now offers bill payments, money orders, reloadable prepaid cards and more. Western Union is also a leader in giving back, with a long legacy of supporting humanitarian causes.

In the 1980s, a decade of diversification and aggressive growth began to take its toll on the company. By 1984, profits and debt were increasing at different rates, causing the company to experience a financial crisis. Eventually, the company went through bankruptcy proceedings in 1987 when investor Bennett S. LeBow purchased control of the company through an out-of-court restructuring that avoided chapter 11.

Today, Western Union operates in more than 200 countries and territories, with approximately 70,000 agent locations worldwide. The company’s primary business operations include domestic and international money transfers, bill payments, money orders and reloadable prepaid cards. Customers can send funds using the company’s online platform, mobile app or in person at one of its agent locations.

The company has a rich heritage of innovative developments that dates back to its origins as a telegraph operator. Its founders were early innovators in the use of Morse code, which helped revolutionize the communications industry. In addition, the company was instrumental in laying the first transcontinental telegraph line and was an early adopter of new telegraphy-related services such as the first stock ticker in 1866 and standardized time service in 1870. These innovations helped solidify the reputation of the Western Union name. The Western Union Museum of History and Technology is an archive and collection of artifacts from the company’s history. The Museum is housed at the National Museum of American History and Technology in Bethesda, Maryland. The Museum accepts donations of items related to Western Union. Donations are tax-deductible. For more information, visit the museum’s website.