I didn't see this posted anywhere...
getting some bank exposure...
Machines Available to Financial Institutions
Commercial banks, credit unions, savings and loans and check
cashing centers in regions all over the country are beginning to see
the value of offering a uniquely convenient service to their customers,
the Coinstar machine.
The Coinstar machine accepts a customer's accumulation of
unsorted coins, quickly counting and sorting them at a rate of up to
600 coins a minute. The customer is then issued a voucher which is
good for cash or deposit at the teller window. Currently, the Coinstar
network consists of more than 3,000 machines located primarily at
supermarkets throughout the country.
"With growing demand from the financial services industry, we felt it
was time to develop a division of the company that will focus on
addressing the desire of bank management to find a better way to
deal with their customers' coins," said Jens Molbak, president and
CEO of Coinstar Inc. "The Coinstar machine turns an operating
hassle into a customer service opportunity."
The Coinstar service can now be found at commercial banks in New
Orleans, Louisville and Cincinnati; credit unions in Tampa and
Dayton; savings and loan branches in Los Angeles and check
cashing centers in San Diego and Seattle.
"One of the advantages of our system revolves around its network
capabilities." said Rod Brooks, vice president of sales and
marketing for Coinstar. "The network keeps track of machine
capacity, operating efficiency, promotional messages and numerous
operating statistics. On a continual basis, information from every
machine across the country is sent to headquarters - we have total
knowledge about the status of each individual machine in our
network."
The Coinstar machine will be on display at the BAI Retail Delivery
Conference in New Orleans, December 1-5, 1997.
The Coinstar coin counting service requires little support or
maintenance from branch personnel. Coinstar employs a nationwide
team of field service engineers to regularly maintain the network and
respond to any problems.
"Coinstar provides a valuable service to banks while at the same
time reducing operating costs." said Marlane Wolf, national director
of financial services for Coinstar. "Americans are tired of the hassle
involved in converting loose coins into spendable cash and financial
institutions are tired of the hassle associated with counting and
handling them. With the Coinstar service, the hassle is eliminated for
everyone."
The Coinstar machine can also be utilized as a marketing vehicle for
other bank services. Its on-screen display is capable of delivering
messages and graphics specific to the banking partner. The cash
voucher may also contain customized text and graphics.
The self-service machine is highly reliable as well. It has been
designed to withstand some of the "non-coin" items that exist in
people's jars. Paper clips, thumb tacks, slugs, teeth, golf tees and
lint are but a few items commonly trapped by the Coinstar machine.
Coinstar Inc. was founded in 1991 and is headquartered in Bellevue,
Wash. For more information call 800-928-CASH.
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