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Coin-counting machines can help credit unions increase awareness

Coin-counting machines can help credit unions increase awareness

When credit unions look to up their profile among the community to gain new members, coin-counting machines are often considered. Installing such transaction-processing equipment improves branch efficiency and empowers members to participate in their own personal finances. To that end, coin-counting machines work as a fairly effective advertisement for credit unions, who were afforded another outlet for raising awareness after federal legislators announced the creation of an all-parties caucus designed to advocate credit unions.

Credit unions in national focus, can depend on coin-counting machines

According to a press release from the Canadian Credit Union Association, government and opposition MPs from the Liberal, Conservative, Green and New Democrat parties have banded together in a multipartisan caucus. They will interact directly with credit union industry representatives and work with other lawmakers to achieve growth and innovation for locations across the country.

"We are encouraged by the real interest among MPs to work closer with credit/ unions and with each other to better understand how our co-operative structure leads to good public policy outcomes for their constituents," said Martha Durdin, president and CEO of the CCUA. "We see this approach at work every day in strong support for small businesses and in tackling issues like financial literacy."

The CCUA press release noted that while caucuses have been formed for industries before, this is the first known instance of one dedicated to advancing credit union goals.

With a new line into government policy-making, credit unions may see their status and influence as an industry grow. If it does, it'll mean more members, and it will also mean for credit union more need for efficiency and effectiveness in transaction handling, two benefits a coin-counting machine can grant.

April 19, 2017