News & Events

Cummins Allison Announces New Rental Program to Facilitate Self-Service Coin Redemption in Financial Institutions

 

NOVEMBER, 14 2018 MT. PROSPECT, IL – Cummins Allison, the leading innovator and provider of coin, currency and check processing technology as well as ATMs, today announced a new rental program that makes it easier than ever to add self-service coin redemption services to bank and credit union branches.

While most financial institutions (FIs) choose to buy self-service coin machines outright, some prefer the flexibility to rent and preserve their capital. Cummins Allison offers both options, plus the ability to manage coin pick up and processing so that tellers can maximize the time they spend with consumers.

“Cummins Allison offers several, flexible programs for FIs to deploy self-service coin redemption within their branches. This new rental program, which is available immediately, offers FIs that choose to rent their machines a cost-effective option that also delivers flexibility in terms of product and lease terms,” said Jim Weaks, vice president, Cummins Allison.

Based on proprietary research, Cummins Allison has found that 80 percent of U.S. households save coin and 65 percent of those who redeem coin prefer to do so at an FI. Self-service coin redemption creates an opportunity for banks and credit unions to directly interact with a considerable number of their consumers.

“Cummins Allison has seen an increase in the number of FIs adding coin redemption services to their branches as a way to increase foot traffic and customer satisfaction levels,” noted Weaks. “Consumers who redeem coin visit a branch an average of three times per year, and coin redemption tends to peak during summer and holiday seasons.”

With this new program, banks and credit unions can add coin redemption services at a very attractive rate and capitalize on one of the busiest coin redemption seasons of the year. For more information on Cummins Allison’s new self-service coin rental program, visit cumminsallison.com/rent or call 800-786-5528.

About Cummins Allison

Cummins Allison is the leading innovator and provider of currency, ticket and check handling solutions, as well as full-function ATMs. Our world-class sales and service network includes hundreds of local representatives in more than 50 offices in North America, 6 wholly-owned subsidiaries and is represented in more than 70 countries around the world. For more information about our award-winning solutions, visit www.cumminsallison.com.

Contacts

Carol Moore – Sr. VP Marketing and Strategic Planning
Cummins Allison
Tel: 847-759-6403
moorec@cumminsallison.com

Andrea Davis
Outlook Marketing Services, Inc.
Tel: 312-957-8905
andrea@outlookmarketingsrv.com