Financial institutions, along with the rest of the world, are looking to increase the sustainability of their business. One of the easiest ways to start is by reimagining coin management. In this article, we’ll dive deeper into what sustainability means for financial institutions and the sustainable benefits of automated coin management.
What is sustainability?
Sustainability is the conscious effort to reduce human environmental impact through any means possible, including avoiding the use of plastic packaging, adopting recycling programs, and modifying consumption patterns. A simple way to start working towards sustainability is to implement an automated coin solution in your organization, whether inside your branch, off-site, or both.
A Greener Way to Coin
Back in 2018, BlackRock Chairman and CEO Larry Fink said that “To prosper over time, every company must not only deliver financial performance but also show how it makes a positive contribution to society.” This statement still rings true today as financial institutions continue to look for more ways to be sustainable. Here are three ways that Coinstar for Financial provides you a greener way to coin:
Mining materials for new coin, transporting materials and coin, and manufacturing operations consume a significant amount of natural resources and energy. It costs 95% less to recycle coin than it does to mint new, and 86% of the copper minted for consumer products is for the penny. Coinstar’s turnkey coin programs recycle existing coin and get it circulating in the economy, which reduces the need for new coin to be minted (while also helping alleviate the ongoing coin shortage). When you encourage coin recycling, you help reduce the carbon emissions of coin, all while expanding your reach and driving better results if you use our fully-managed, turnkey programs.
When we think of sustainability, the first thing to come to mind is often recycling plastic, paper, and aluminum. While other in-branch coin machines require bags to collect, transport, and drop off coins, Coinstar for Financial doesn’t require them, eliminating a crucial source of waste. Instead of hauling coin out of your branch in bags, we utilize reusable bins, entirely removing disposable materials from the equation. Not only are Coinstar programs fully managed, allowing your team to focus on more important transactions, but they also allow you to save on plastic and other materials, contributing to a more sustainable ecosystem.
Sustainability: Start Smart with Coin
Advancing sustainability efforts can help your organization win green-conscious customers and build trust in the marketplace. By implementing a sustainable coin solution in your institution like ours, you can make a positive impact on both your institution and the environment. To learn more about how coin recycling can help support your sustainability goals, follow Coinstar for Financial on LinkedIn and explore our coin management solutions, including Retail Remote Deposit.