CU Resources Spotlight
Counting Money to Launch Marketing Campaigns and Streamline Operations
By: Doug Tangwall, Product Manager CUNA Strategic Services
While counting coins may not seem like rocket science, a recent white paper examines how extensive research and development by De La Rue Cash Systems led to an innovative “launching pad” for credit union marketers. The New Marketing Launching Pad: QuickChange™ Member Self-Service Coin Counting explores the need for coin-counting machines at credit unions and how offering this service can bring members back into the branch. Specifically, the QuickChange™ Self-Service Coin Deposit Center from De La Rue Cash Systems is discussed, including how the functionality of the machine was influenced through interviews with credit union members and staff and advice on implementing member self-service coin counting.
Just three years ago, a CUNA survey of 2,000 credit unions documented the need for automated coin counting services, finding only 25% of U.S. credit unions offered the service—in the back-office or self-service (see Credit Union Coin Counting Services: Changing Attitudes About Change). At that time, credit unions in the Northeast were least likely to offer automated coin counting services; only about 1 in 10 did so.
The current study incorporates case studies from four credit unions that were early adopters of the technology and includes their reasons for offering this service, operational considerations, marketing strategies, fee philosophies, and more. Wes Millar, senior vice president of CUNA Strategic Services, says "We are pleased to co-sponsor this white paper of best practices to improve credit union operations, marketing and cross-sell opportunities."
Another recent release by De La Rue is the new EV line of note counters, featuring revolutionary new technologies: Ultra Feed™ and Mechanical Doubles Detection™. Bob Allexon, Director of Sales for De La Rue Cash Systems says, “These technologies provide such a high level of accuracy by actually measuring the thickness of bills to exact precision and ensuring that banknotes are fed and counted consistently irrespective of their condition, thereby minimizing interruptions for credit union staff.”
To view a free copy of the white paper, visit cuna.org and click on “Strategic Services”. The whitepaper is located at the top of the De La Rue Money Handling Equipment page. To request contact from a De La Rue sales representative, contact CUNA Member Services at 800-356-8010, and press 3.
More information on the company and their
services.
April, 2008
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