News & Events

News Hub

Coin counting machines help credit unions educate young consumers

Many consumers place credit unions in a very narrow box, but coin counting machines make it possible for these institutions to expand their services. As the credit union owner or manager, your focus is always on partnering with members to help them with their ongoing financial development. 

There are several ways credit unions enhance their surrounding communities. Whether it's financial literacy programs for adults, outreach to local colleges and high schools, microloans for businesses or special accounts for members, the aim is to uplift members every step of the way.

But the education doesn't have to focus on adults or college students; often the outreach begins with young children, and that's where those self-service coin counters come in extra handy.

Coin counting machines foster positive saving habits

For many young children, their first experiences with finance start with a piggy bank at home. Even saving up a few dollars in pennies and nickels can be a perfect entry point for children of all ages into how to approach being a savvy consumer. In many ways, self-service coin counters are the linchpin of this educational approach, an efficient means of providing children with a few important lessons about proper finances and how this impacts individuals' lives.

The idea of using a coin counter can be appealing to children. It's about setting a goal to all that saving and storing of their hard-earned pocket change. It gives them something to look forward to and to keep them focused on continuing down the path of savvy financial decisions. This is important for young kids, as it grounds them in the reality of how to properly save and spend money.

The lessons don't stop with simply saving physical money, either. The self-service component is a great way to teach kids the importance of responsibility. These coin counters require not only change to work, but for children to follow proper rules or guidelines. The fact that it's related to money will only further entice children to be active participants in this process. This not only shows that they can be rewarded for all their efforts, but that rules and structure have real importance in life.

While self-service coin counters don't generally require the aid of a credit union teller, these machines help build important bonds with financial professionals. In the credit union, children can get used to the smiling faces of tellers, and that helps create essential connections with families and members. 

10/07/2016