West Coast Bank is the First Northwest Bank to Offer New Coinstar Coin Counting Machines for Financial Institutions
05 April 2007 - 3:00PM
Business Wire
Coinstar, Inc. (NASDAQ:CSTR) today announced that West Coast Bank
(NASDAQ:WCBO), a leading Pacific Northwest community bank, will be
the first in the region and one of the first in the country to
offer the new Madison coin-counting kiosk from Coinstar. The
service will be free of charge to bank customers in 10 Oregon and
Washington branch locations. �We are pleased to be the first
Pacific Northwest bank to offer our customers this valuable
coin-counting service free of charge. And, since the Coinstar
program is completely turnkey, we can offer it without increasing
our staff workload,� said West Coast Bank President and CEO Robert
D. Sznewajs. The Madison coin-counting kiosk, introduced late last
year, is now available for banks and credit unions to install. The
Madison kiosk is simple to use for customers and easy to deploy and
maintain for financial institutions. Coinstar�s turnkey,
owner-operator model significantly decreases costs and hassles for
financial institutions. �West Coast Bank is a forward-thinking,
customer-oriented bank, and we�re very pleased that they will be
offering our Madison kiosk,� said Alex Camara, senior vice
president and general manager of worldwide coin at Coinstar, Inc.
�By offering our coin-counting service at no charge to its
customers, West Coast Bank not only increases traffic into the
branch, but has the ability to attract new customers, enhance
existing relationships and build loyalty among its customer base.�
The Coinstar� coin counting kiosks that will be installed at West
Coast Bank this month will offer a Coins to Cash� feature, Coin to
eCertificate, as well as the ability to accept donated change for
designated non-profit organizations. For Coins to Cash
transactions, customers simply pour their loose, unsorted change
into the machine, then once counted, the machine will dispense a
voucher that may be brought to the teller window to receive the
full coin value in the form of currency or deposit into their
account (non-customers pay a service fee of 7.9 percent). To
receive an eCertificate from national retailers such as Amazon.com,
iTunes, and Eddie Bauer, users go through the same process as Coins
to Cash, with the exception of going to the teller window. A
redemption code printed on the voucher makes it possible to make
purchases online. For charity donations, the customer receives a
tax-deductible receipt. About Coinstar, Inc. Coinstar, Inc.
(Nasdaq: CSTR) is a multi-national company offering a range of 4th
Wall� solutions for the retailers� front of store consisting of
self-service coin counting, electronic payment solutions,
entertainment services and self-service DVD rental. The company�s
products and services can be found at more than 60,000 retail
locations including supermarkets, banks, drug stores, mass
merchants, convenience stores, and restaurants. For more
information, visit www.coinstar.com. About West Coast Bancorp West
Coast Bancorp (NASDAQ:WCBO), one of Oregon Business Magazine�s 100
Best Companies to Work For, is a Northwest bank holding company
with $2.5 billion in assets, operating 59 offices in Oregon and
Washington. The company combines the sophisticated products and
expertise of larger banks with the local decision making, market
knowledge and customer service of a community bank. For more
information, visit the Company web site at www.wcb.com. Certain
statements in this press release are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. The words "believe," "estimate," "expect," "intend,"
"anticipate," "goals," variations of such words, and similar
expressions identify forward-looking statements, but their absence
does not mean that the statement is not forward-looking. The
forward-looking statements in this release include statements
regarding the benefits and future availability of the Madison
coin-counting kiosk. Forward-looking statements are not guarantees
of future performance and actual results may vary materially from
the results expressed or implied in such statements. Differences
may result from actions taken by Coinstar, Inc., as well as from
risks and uncertainties beyond Coinstar, Inc.'s control. Such risks
and uncertainties include, but are not limited to, the effect of
and financing of recent acquisitions, the ability to successfully
integrate acquired businesses, the ability to bring new and repeat
customers to Coinstar� machines, the ability to obtain new
agreements with potential retailers for the installation of
Coinstar machines and the retention of the current agreements with
our existing retailers on terms that are not materially adverse to
Coinstar, Inc., and legal or governmental regulatory action and
uncertainties relating to the ultimate success of new business
initiatives. The foregoing list of risks and uncertainties is
illustrative, but by no means exhaustive. For more information on
factors that may affect future performance, please review "Risk
Factors" described in Item 1A of Part I of our most recent Annual
Report on Form 10-K filed with the Securities and Exchange
Commission. These forward-looking statements reflect Coinstar,
Inc.'s expectations as of the date of this release. Coinstar, Inc.
undertakes no obligation to update the information provided herein.
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