Financial cooperatives, owned and operated by their members, sometimes offer automated machines that sort and total loose change. This service provides a convenient way for members to convert their coins into usable funds, often without fees for members.
Providing this technology offers several advantages. It streamlines transactions, reduces manual handling of currency, and enhances member satisfaction. Historically, such services were often associated with large retail banks, but their increasing presence in member-owned institutions reflects a growing focus on member service and convenience within the cooperative finance sector. This can attract new members and strengthen existing relationships by offering a tangible, practical benefit. Furthermore, it can reduce the logistical and security challenges associated with handling large volumes of coins.