News & Events

Sales of Cummins Allison’s Self-Service Coin Counting Machines Grow by Thirty One Percent in Credit Union Segment

 

“The steady growth of our self-service coin product line is reflective of our customers’ desire to make technology investments that allow for more efficient use of staff resources,” said Bob Gibson, vice president, branch operations, Cummins Allison. “Our Money Machine 2 self-service coin counter is designed so members can easily redeem coins themselves and deposit the coins directly into their checking or savings account. This allows staff to focus on high-value services that retain and grow membership.”

Flexible Options and Hands-Free Coin Management Programs Drive Adoption

Cummins Allison offers credit unions the most options for adding self-service coin redemption to their branches, including a rental program, which provides a fixed monthly payment and includes maintenance, so there are no additional service expenses. Additionally, a hands-free coin management program for coin pickup and processing eliminates the burden tellers spend on managing coin.

Langley Federal Credit Union chose the rental program option. “Renting the machine is a great option for us because it means worry-free operation. Cummins Allison picks up the coin, monitors the machine’s performance and services the machine for us,” says Teresa Jackson, senior branch manager. “And, in the future, when technology advances happen, we won’t have to reinvest in a new machine. We can simply swap out to an upgraded model instead of buying a new one,” she adds.

“Our credit union customers understand the importance of expanding and differentiating services in order to stay competitive and improve the member experience,” said Gibson. “Now they have more options than ever to offer an essential service that members want, while preserving their capital.”

Credit Unions Seize Opportunities for Differentiation, Expanded Services

As some larger financial institutions have discontinued self-service coin redemption in their branches, many credit unions have seized on the service offering as a way to differentiate, increase branch visits and grow their membership.

Since investing in member-centric technologies, including self-service coin redemption from Cummins Allison, St. Lawrence Federal Credit Union, located in Ogdensburg, New York, has been able to differentiate its offerings and increase visits to its branches, providing an opportunity for branch personnel to discuss other value-added services with members.

“We strive to make the member experience the center of everything we do and we do everything we can for our members. With the installation of a new branch and new products and services, we’ve seen significant growth, topping 250 members last year and we expect to top that growth again this year,” said Tim Felt, chief operations officer for St. Lawrence.

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

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 – Senior Vice President Marketing and Strategy

Cummins Allison Corp.

Tel: 847-759-6403

moorec@cumminsallison.com

 

Andrea Davis

Outlook Marketing Services

Tel: 312-957-8905

andrea@outlookmarketingsrv.com