Many of our business members conduct a large portion of their transactions in cash, which is why Salal Credit Union offers a wide variety of solutions to meet your cash needs.
To serve our business members thoroughly, we contract with cash logistics providers who can provide armored cars and smart, safe services. “We select the cash logistics partner based on the member’s location, and the setup process may vary depending on the chosen provider,” said Elizabeth Winters, Salal Treasury Management Sales Officer.
Cash courier services provide enhanced safety and convenience for businesses, allowing our members to avoid carrying large amounts of cash outside their premises. “Couriers work with your schedule, whether weekly, on-call, or other,” added Alice Brown, Treasury and Cash Management Specialist. “With cash courier services, you can deposit and have change delivered to your business.”
One of our key cash courier providers is Empyreal Logistics. “If this service is desired, the Treasury Management Sales team will introduce the member to Empyreal’s Business Development team, who will provide a personalized quote based on their location,” Elizabeth relayed. “After receiving the quote, the member will complete a client information sheet, which Empyreal forwards to us for final verification and approval of the pickup address.”
The process is different for another key provider, Axiom Armored Transport. “The Treasury Management Sales team collects all required setup information from the member directly,” Elizabeth said. “Treasury Management Sales shares this information with our Treasury Management Support team, who secures the agreement from the member and submits the setup request to Axiom using their designated form.”
Alice is one member of that Support team and can help connect you with any of our cash logistics providers. “Our procedures differ depending on which courier the member gets set up with, but it can include us reaching out to the member to get paperwork signed and to gather information about pickup schedules, the best contact information from the business to provide to the cash couriers, and the need for change orders,” she said. “We send that information to the courier so they can set up a deposit profile for the member. Once confirmed, the member is ready to start sending and ordering cash through the cash courier.”
Alice and others on the team will ask a variety of questions, and the answers for your business may change over time:
- Does your business receive cash deposits every day or nearly every day?
- Which is a better fit to handle these deposits: a smart safe or a traditional cash pickup?
- On what frequency would you prefer to have your cash picked up?
- Do you need the ability to have change delivered to you?
We ask these questions to help you launch your business with speed and accuracy. “Our goal is to make the setup process seamless, ensuring that the member can start benefiting from secure cash logistics services as quickly as possible,” Elizabeth said.
We also listen to our members’ apprehensions about cash handling. “Empyreal addresses this by focusing on advanced safety measures and secure operational processes, providing peace of mind for our members,” shared Elizabeth.
Cost is also essential to our business members. “Empyreal’s growth has allowed them to offer competitive pricing,” Elizabeth explained, “making secure cash pickup services more affordable.”
A few of our tenured members may recall that our branches handled cash processing before the Covid-19 pandemic. “Members that have been with us for that long may still be under the impression that branch deposits are more acceptable,” Alice said. “The reality is we’ve grown our cash courier network since the pandemic, and ultimately, the goal is to minimize business deposits or withdrawals through our branches as much as possible.”
Cash storage space is limited because Salal’s physical branch locations are designed for consumers rather than businesses. “Our branches also don’t have a lot of extra cash on hand for requests like withdrawals for change orders,” Alice elaborated, “and this is for security reasons.”
For those business members who previously banked elsewhere and may have been accustomed to visiting a branch location, we aim to customize a solution that suits your business. “When I talk to members who express interest in going to our branches for cash transactions, I look to see if they’re already set up with one of our cash courier services,” Alice recounted. “If they are, I suggest they contact the courier first, and I help facilitate that when needed.”
But sometimes, our business members aren’t yet connected to a cash logistics provider. “First, I let the member know that their cash request needs to be sent to our branches to see if they can accommodate it,” Alice said. “Then, I will refer their request to their Business Officer and the Treasury Management Sales team to connect with them about their cash courier options.”
Once your business has established its cash logistics service, regularly monitoring your cash activity is essential. “Keep reconciliations of cash transactions,” Alice recommended. “If available, access the client portal to review deposit and change order information.”
Most of all, we encourage our members to keep in touch. “To ensure members are optimizing their cash services, they must maintain open communication with both their logistics provider and the Treasury Management team,” Elizabeth advised. “Regular updates allow for addressing concerns, monitoring performance, and identifying opportunities to enhance efficiency and value.”
We’re Here to Help
Do you have questions about cash logistics services? Please get in touch with your Business Officer or Business Services at 206.298.9398 or BusinessServices@SalalCU.org, and we’ll be happy to help!
