News

Cummins Allison intros coin redemption rental program for FIs

November 15, 2018

Cummins Allison, a provider of ATMs and coin, currency and check-processing technology, has rolled out a new rental program that makes it easier for financial institutions to add self-service coin redemption services at their branch locations.

Though most financial institutions choose to buy self-service coin machines outright, some prefer the flexibility to rent their machines and preserve the capital, a press release said. Cummins Allison offers both options, as well as management of coin pickup and processing.

"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," Cummins Allison Vice President Jim Weaks said in the release. "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, the release said.