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.