News

Ohio CU reaps $30K annual savings on coin counting with Cummins Allison

February 7, 2019

Miamisburg, Ohio-based River Valley Credit Union has purchased three Money Machine 2 self-service coin counters from Cummins Allison, realizing an annual savings of nearly $30,000 on the cost of its previous coin-counting equipment.

River Valley had been renting refurbished coin counting machines from another provider, but encountered issues with service and response time. 

"All too often, a machine would cease working, leading to headaches for branch managers and inconvenience for our members," James McConnell, branch operations manager for River Valley CU, said in the release. "[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." 

River Valley branches are seeing an increase in the number of coins being processed, McConnell said. 

"I'm sure that has a lot to do with the coin machines being newer, nicer and faster," he said. "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."