June 11, 2013, Mt. Prospect, IL—Cummins Allison, the leading innovator and provider of currency, coin and check handling solutions, today announced the introduction of new offerings for financial institutions (FIs) interested in leveraging the benefits of self-service coin machines to grow branch traffic and boost customer service offerings.
With coin production steadily rising, coin redemption makes good business sense.1 For financial institutions, where 64 percent of coin savers prefer to cash in coins, self-service counting machines are critical tools to build branch traffic, improve customer satisfaction and stay ahead of the competition.2
Cummins Allison now offers a choice of several programs to address the unique needs of FI customers where business objectives are varied and not one acquisition model or type of equipment is a solution for all.
Flexible Choices Increase Profitability Potential
FIs are trusted sources for counting coins, and the average saver makes several additional trips to their FI just to cash in their coins. Yet, not all FIs can or want to purchase coin counting machines. With Cummins Allison, now there are more options to choose from so FIs can easily add this valued service to their branch.
Own: FIs can maximize long-term profitability and return on investment (ROI) through self-service coin machine ownership.
Lease: Frees bank lines of credit and provides retention of capital so FIs can generate earnings while maximizing the profit of ownership.
Rent: With a fixed monthly payment, FIs can count on a fixed expense and the ability to set user fees and retain those profits.
Placement: This option requires no investment, instead Cummins Allison places the coin counter free of charge and manages the entire coin counting solution for you.
Turnkey Coin Management for Maximum Efficiency
Cummins Allison also offers multiple coin management options to meet varying branch needs. One option is a turnkey coin pickup and processing solution managed by Cummins Allison–eliminating the time-consuming task of coin handling so tellers are free to focus on more valuable service-related tasks. FIs can also choose to process coin inside the branch for recycling and/or reselling coin. With more options than any other provider, Cummins Allison enables FIs to select among the right program that works for them. Coin counters can be customized with the FI’s brand, packaged with a new stainless steel exterior or used in their standard packaging.
“We’re allowing FIs to customize how they add coin counters to their branches, how the machines look and how they process the coins—it’s complete flexibility,” said Jim Weaks, vice president, Cummins Allison. “Our programs enable FIs to structure a program that will best meet their business objectives – whether that’s drawing in more foot traffic to convert into new customers or offering lobby engagement tools to improve customer service – we now have very flexible programs to complement our high-quality, customizable self-service coin machine options.”
For more information on how FIs can take advantage of the different programs, machine options and coin management programs, visit cumminsallison.com/traffic.
1 CoinNews.net: US Mint Coin Production in April: New Quarter and $1 Coin Mintages; May 2013
2Branmark Research Report, 2011.
About Cummins Allison
Cummins Allison is a global leader in developing solutions that quickly and efficiently count, sort and authenticate currency, checks and coin. With a heritage of leadership in technology and product innovation spanning more than 125 years, Cummins Allison serves the majority of financial institutions worldwide, as well as leading organizations in retail, gaming, law enforcement and government. Ninety-seven percent of our customers recommend our products and services. CA holds more than 350 U.S. patents and invests double the industry average in R&D. Our world-class sales and service network includes hundreds of local representatives in more than 50 offices in North America, 4 wholly-owned subsidiaries in Europe and is represented in more than 70 countries around the world. For more information, visit cumminsallison.com.
Carol Moore – Vice President Marketing
Cummins Allison Corp.
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