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River Valley Credit Union saves $30,000 annually by switching to coin counting equipment from Cummins Allison

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

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