The Cash Visibility Initiative Impacts the Entire Cash Supply Chain: Is Your CIT Partner Ready for the Changes?
November 18, 2021
About one year ago, the Federal Reserve completed its first test of the e-Manifest. In this test, the Federal Reserve electronically accepted a deposit from a financial institution that was then delivered by a Cash-in-Transit (CIT) carrier. The success of this test led to the creation of e-Manifest Readiness Program (ERP). As part of this program, the Federal Reserve and its Cash Visibility team help others in the industry reach this step.
Customer Close-Up: GreenState Credit Union
September 9, 2021
“Rochester has been an ongoing part of our operations,” said Jennifer Grecian, Senior Accounting Specialist with GreenState Credit Union. “Anytime we add a branch or ATM, it’s so easy to get a hold of the Rochester team and add it to the services we already receive.” Today, Rochester services 24 branches and approximately 40 ATMs and 10 ITMs. Grecian said GreenState is always open to hearing about additional services that Rochester offers because she knows those services have the potential to improve operations, which then creates a better experience for credit union members.
Is Your ATM Fleet in the Right Hands?
August 9, 2021
The right CIT carrier should be able to help the FI manage cash replenishments, deposit pulls, balancing, cassette reconciliation and customized reporting. However, many FIs should consider a CIT carrier that could offer more advanced services like 1st Line Maintenance of machines, lock installations and support.
The Federal Reserve Shares the Latest on Cash
July 7, 2021
“Regardless of how the payments landscape evolves it is important to note that consumers continue to use cash, though at a lower rate, even amid a pandemic.”
Service, Solutions, And Savvy: The Three S’s of An Effective CIT Partner
July 1, 2021
Having an effective cash-in-transit (CIT) partner is a must for both financial institutions (FIs) and retailers. With the right partner, FIs and businesses can redirect employees to focus on customers and growing the business.
So how do you know you have the right partner? Look for the three S’s of an effective CIT partner: Service, Solutions, and Savvy
Customer Close-Up: Great Western Bank
May 11, 2021
The partnership between Rochester and Great Western isn’t a new one. It goes back decades and as the bank expanded its services and locations, Rochester was there to provide the services GWB needed. Today Rochester provides armored transportation and cash vault services for approximately 140 branches and more than 100 ATMs/ITMS. Amber Mayer, ATM/ITM Product Specialist with GWB, said that she and her team rely on Rochester’s knowledge of ATMs and ITMs, which is in her opinion unsurpassed.
Protect Cash, Support the Payment Choice Act
January 21, 2021
This past summer, Senators Kevin Cramer (R-ND) and Robert Menendez (D-NJ) introduced the Payment Choice Act (H.R. 2650 / S.4145). The purpose of this bill is simple – it protects cash and coin.
Adding ITMs To Your Footprint? Here’s How It Impacts Your CIT Partner
December 3, 2020
For optimal success in launching ITMs, Rochester Armored Car recommends that FIs include its CIT partner early in the conversation. This provides the CIT carrier with a chance to help design solutions and suggest additional services that complement ITMs.
Three Steps To Outsourcing Cash Vault Management
October 21, 2020
Deciding whether to outsource your cash vault management can be overwhelming, but it doesn’t have to be with the right Cash-In-Transit partner. Check out this helpful guide to get started.
Is Your CIT Ready for Your ITM Program? Three Questions to Ask
October 7, 2020
Many financial institutions are beginning the process of implementing ITMs or increasing the number of units in their markets. As FIs embark upon this complex and expensive task, how do they know their CIT is ready to accompany them? Find out by asking these three questions.
CIT Services Shape How Banks Move Forward
August 31, 2020
In addition to implementing tactics like employee health-screenings and appointment-based banking that keep employees and customers safe, banks also need to consider how, where and when to reach customers both today and post-pandemic. A strong partnership with a cash-in-transit (CIT) carrier is at the very core of a financial institution (FI) successfully navigating the now while also making long-term, post-pandemic changes.
Rochester Opens New Branch in Corpus Christi, Texas
August 27, 2020
Rochester opened the doors to a new office in Corpus Christi, Texas. This is Rochester’s 33rd armored car terminal. Operations started in spring and the branch is seeing substantial growth.
US Coin Task Force Issues a Public Statement on the Coin Circulation Issue
July 24, 2020
“Coin circulation has emerged as a new disruption caused by the COVID-19 pandemic. Many have referred to this as a shortage; however it is not. There is approximately $48 billion in coin already in circulation, most of which is sitting dormant inside America’s 128 million households. As people have changed their spending habits, and coin-intensive businesses and financial institution lobbies have been less accessible, the nation’s coin is pooling in change jars, in car cup holders and in shuttered businesses, making it difficult for the businesses of this country to get the coin that they need to support cash transactions.”
Read the complete statement here: US Coin Task Force Public Statement 07-24-2020
CITs Role in the Coin Circulation Disruption
July 10, 2020
Rochester, along with other Cash-In-Transit (CIT) carriers, has played a role in helping the Federal Reserve implement changes to improve the circulation of coin. Rochester worked to communicate possible solutions to customers that supported the Federal Reserve’s efforts and helped banks and retailers combat the circulation issue, including creating maximum order strategies for their own branches and customers as well as depositing loose coin within the branches.
The Missing Link Between Operations and Customer Service
July 6, 2020
Banks and credit unions are continuously striving to improve both of these areas. In fact, many within the industry are now using this time to reevaluate both operations and customer service and the link between the two. The tricky part is how to do both at the same time. How do banks make operations more efficient and reduce costs while simultaneously investing in key personnel to be more available to better serve customers?
The Importance of Cash (and why it’s not going away)
June 12, 2020
The notion of the United States becoming a cashless society has been a hot topic for years. It has become an even more relevant one during the pandemic. Worry over whether currency was a vehicle for transferring the virus fueled the debate.
Outsourcing cash vault management on the rise
June 3, 2020
As banks and credit unions reevaluate how to move forward, the trend of outsourcing cash vault management continues. Once the logistics of cash management is eliminated, the bank is once again able to focus on its customers.
May 27, 2020
In early May, ATM Marketplace posed a very interesting question in its blog Post Covid-19: A Wake Up Call for Financial Institutions and Credit Unions. “It’s becoming clearer that social distancing could be a matter of life and death, but how can an institution still be customer friendly while keeping staff and customers safe?”
An Agile CIT Partner Is Essential During a Crisis Like COVID-19
May 21, 2020
It’s been nearly three months since COVID-19 forced United States banks to quickly implement their business continuity plans. Almost overnight banks were forced to operate differently and to rethink how they interact with customers.
Rochester’s President Provides Update for Employees and Customers
March 20, 2020
Read it here: Minimize Risk of Coronavirus
Article to Read: World Health Organization: We Did Not Say That Cash Was Transmitting Coronavirus
March 10, 2020
As a member of the Federal Reserve’s Cash Advisory Council, Rochester wanted to share this news story of WHO clarifying media reports about COVID-19 and banknotes: World Health Organization: We Did Not Say That Cash Was Transmitting Coronavirus
Rochester Implements Mandatory Self-Screening Statement for all Visitors and Vendors
March 10, 2020
Effective today, Rochester implemented a self-screening statement for all visitors and vendors who need access to an office or terminal. The screening asks if the individual has traveled to certain areas impacted by the Coronavirus (COVID-19) or been in close contact with someone who has traveled to those areas. Additionally, it asks the individual if they have had a temperature or any acute respiratory illness symptoms. At this point, any individual answering yes to any one of those questions will not be given access to the office or terminal and alternate meeting arrangements will be made.
Rochester Takes Steps to Prepare For Coronavirus Disease 2019 (COVID-19)
March 3, 2020
As we all know the Coronavirus Disease 2019 (COVID-19) remains a concern all over the globe.
Rochester is committed that in the event of pandemic we will fulfill the critical vendor role our company plays in protecting our employees’ health and safety as well as limiting the negative impact to our customers. With this in mind,our business continuity plan is in place and we have adopted the ‘Business Pandemic Influenza Planning Checklist’ developed by Department of Health and Human Services (HHS) and Centers for Disease Control and Prevention (CDC). Our plan includes strategies at the branch and corporate level.
We continue to follow the CDC closely and suggest our employees and customers also follow the rapidly evolving situation at www.cdc.gov.
Should we be notified of a confirmed case of Coronavirus (employee or customer) we will track the necessary monitoring and support contingency emergency action as set in our emergency plan.
Rochester is included in all notices and conference calls with the Cash Product Office of the Federal Reserve in reference to this important topic as well. So far, we have experienced no impact from this virus.