Cummins Allison Explains How Credit Unions Can Leverage Self-Service Coin Counters to Support a Foundation of Quality Service
MISSISSAUGA, Ontario--(BUSINESS WIRE)--Credit unions have long differentiated themselves by offering personalized financial services to members of their local communities. This foundation of customer-centricity has served credit unions well; Canadian members consistently rank their credit unions first in overall customer service excellence among all financial institutions.1 Members feel that credit unions excel specifically in the categories of providing excellent branch service and valuing members’ business.2
“Member service was the number one driver behind the decision to install coin counting technology in our branches. Rolling coin and then bringing it into our facility is tedious and time-consuming. We wanted to make things as convenient as possible for our members.”
To retain current members, attract new ones and maintain high member satisfaction credit unions must constantly strive to offer value-added services that enhance the member experience. Cummins Allison, the leading innovator and provider of cheque, currency and coin handling solutions explains how self-service coin counters can help credit unions build on their foundation of quality service.
Self-Service Coin Machines Are a Service Members Can Count On
Successful credit unions have realized that self-service coin counters are a cost-effective way to improve customer service and member satisfaction. In fact, in a recent survey, 89 percent of credit unions cited adding a value-added service to their branches as the top reason they offer self-service coin redemption.3
Amy Landis, teller supervisor, Hopewell Federal Credit Union explains, “Member service was the number one driver behind the decision to install coin counting technology in our branches. Rolling coin and then bringing it into our facility is tedious and time-consuming. We wanted to make things as convenient as possible for our members.”
Offering a self-service coin option in the lobby eliminates the need for members to count and wrap their coins; they can avoid long teller lines while holding heavy coin containers and they can have a faster, more meaningful exchange with the teller when cashing in their coin redemption receipt.
In addition, self-service coin redemption is a service that members want. In fact, 80 percent of members surveyed reported they would switch from a teller to a self-service coin machine and they believe their satisfaction would measurably increase as result; with many indicating they would use the machine “all the time”.4
Engaging Customers with Personalized Services
Credit unions can also leverage self-service coin machines to build on their dedication to providing personalized financial services to their members, which can translate into member loyalty. Many of today’s machines can be customized with features that make them more engaging. For example, onscreen advertising features can serve as a simple, yet effective marketing tool that helps members learn about new programs and services. Members then have the opportunity to ask tellers for more information about a promotion, leading to an increase in high-quality teller interaction.
For more information on how your credit union can leverage self-service coin counters to achieve customer service goals, enhance the member experience and build member loyalty, visit: www.cumminsallison.com/go/traffic.
1,2 Ipsos Customer Service Index: 2013 Best Banking Awards, August, 2013
3 Coin Counting Practices within the Credit Union Industry; BranMark Strategy Group, 2013
4 Assessing the Opportunities for SSC Machines in the Financial Segment: BranMark Strategy Group, 2011
About Cummins Allison
Cummins Allison is the leading innovator and provider of cheque, currency and coin handling solutions. Our world-class sales and service network includes hundreds of local representatives in more than 50 offices in North America, 6 wholly-owned subsidiaries and is represented in more than 70 countries around the world. For more information about our award-winning solutions, visit www.cumminsallison.ca.