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Coin counting machines add flair to credit unions

Coin counting machines add flair to credit unions

Coin-counting machines can make going to a credit union more fun.

Banking is normally associated as being a boring errand like going to the grocery store or picking up dry cleaning. But there are ways that credit unions can spice up the customer experience and draw in new members . Integrating coin-counting machines into their brick-and-mortar venues is one way to increase in-store traffic and improve customer service.

Maps Credit Union in Salem, Oregon, knows firsthand how these machines can make an impact on a business. After implementing coin-counting machines in their branch this summer, employees said they cut an average of two minutes off of every transaction due to the speed and convenience of having the machine process coins, according to Business Wire. This is because employees in the branch no longer have to run back and forth to the vault to count coins before exchanging them for paper bills as the machine will do it for them, the source noted.

The result has been a significant boost in member satisfaction, according to branch employees.

"We've definitely seen an improvement in how our members view wait time at the branch," Traci Kendall, vice president of branch operations, told Business Wire. "Those surveyed are giving us better scores when we ask about their wait time - particularly in the branches that have self-service coin machines."

Credit unions should also market coin-counting machines as an educational tool. Parents can tell their children to save up their coins and then take them to a credit union to get them converted into cash, which can be a valuable lesson about budgeting at an early age.

"It's almost as exciting as hitting the jackpot on the slot machine," Kendall said. "It makes banking fun."

February 8, 2017