News & Events

River Valley Credit Union Saves $30,000 Annually by Switching to Coin Counting Equipment from Cummins Allison

 

February 5, 2019, Mt. Prospect, IL – Cummins Allison, the leading innovator and provider of coin, currency and check processing technology as well as ATMs, today announced that River Valley Credit Union, located in Miamisburg, Ohio has purchased three Money Machine® 2 self-service coin counters saving nearly $30,000 in rental program costs and making a much-needed move to problem-free machines.

Addressing the needs of members while meeting revenue objectives

River Valley rented refurbished coin counting machines from another provider but encountered service and response time issues. “All too often, a machine would cease working, leading to headaches for branch managers and inconvenience for our members,” said James McConnell, River Valley Credit Union branch operations manager.

In the search for a new supplier, River Valley met with Cummins Allison. “The company helped us examine the needs of our credit union and our community along with our revenue and risk level objectives,” added McConnell. “After careful deliberation, we found that purchasing the machines is actually less expensive than renting.”

Positive results

McConnell reports that the branches are seeing an increase in the number of coins being processed. “I’m sure that has a lot to do with the coin machines being newer, nicer, and faster. We have some members who bring in hundreds, even thousands of dollars’ worth of coins at a time. It’s nice to know that they can now bring them in and count them in a matter of seconds,” reported McConnell.

“Cummins Allison offers several, flexible programs such as rent, lease and purchase, for credit unions to add coin redemption services to their branches,” said Bob Gibson, vice president, branch operations, Cummins Allison. “Alternatively, we also offer turnkey solutions to pick up and process coin, eliminating potential liability for credit unions,” said Gibson.

For more information on Cummins Allison’s self-service coin product line, procurement options and coin management programs, visit www.cumminsallison.com/choice

 

About River Valley Credit Union

Serving the Greater Miami Valley region for over 70 years, River Valley Credit Union provides state-of-the-art banking and loan services to more than 26,000 members. With assets totaling $340 million, the credit union has six convenient locations and is the 19th largest credit union in the state of Ohio.

 

About Cummins Allison

Cummins Allison is the leading innovator and provider of check, currency and coin 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