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Credit Unions on Edge of Innovation Can Rely on Coin-Counting Machines

Credit Unions on Edge of Innovation Can Rely on Coin-Counting Machines

Credit unions have a good mix of technologies at their disposal in modern times, not only coin-counting machines that enhance efficiency, but also mobile tools increasingly popular with members and potent tools for engagement. The mobile revolution has been fully underway for some time, and online financial services are gaining traction after software has been able to guarantee a private and secured mobile banking connection. Credit unions in Canada are ahead of the game in many respects to this innovation.

Coin-Counting Machines a Steadying Presence

Online lending is a big trend in the overall move toward digital banking. And according to a press release, Northern Credit Union recently became the first credit union in Canada to utilize an automated loan decisioning tool and a comprehensive and responsive online account opening service, which it plans in the future to use as the No. 1 destination (supplanting branches) for account openings with the union. The offering, the company said, has streamlined internal processes while adding to the member experience. The new developments build off the introduction of its ASAPP banking software in late 2014, as core banking services have now been integrated.

"We spent the past two years focused on building a robust platform to solve what we believed to be the core challenge for credit unions in Canada: how to find new ways to grow their membership and reduce the average age of the member," says JR Pierman, President, ASAPP Online Solutions Inc.

Credit unions on the cutting edge of mobile can still rest assured knowing they can depend on stalwart technology like coin-counting machines. Beyond the efficiency and effectiveness of such equipment, they further fit the mission of credit unions empowering their members with tolls to their own finances.

May 8, 2017