MIAMISBURG, Ohio–The $340-million River Valley Credit Union here has purchased three Money Machine 2 self-service coin counters from Cummins Allison, which will save it nearly $30,000 in rental program costs and also improve service, according to the company.
River Valley had been renting refurbished coin counting machines from another provider but encountered service and response-time issues, Mt. Prospect, Ill.-based Cummins Allison said.
“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. “(Cummins Allison) helped us examine the needs of our credit union and our community along with our revenue and risk level objectives. After careful deliberation, we found that purchasing the machines is actually less expensive than renting.”
‘Newer, Nicer, Faster’
According to Cummins Allison, McConnell reports 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,” McConnell said.
Bob Gibson, VP-branch operations with Cummins Allison, added, “Cummins Allison offers several, flexible programs such as rent, lease and purchase, for credit unions to add coin redemption services to their branches. Alternatively, we also offer turnkey solutions to pick up and process coin, eliminating potential liability for credit unions.”
For info: www.cumminsallison.com/choice