Casey’s Revamped Banking Saves Millions in Labor

The improved banking model also saved the company $2 million in bank fees.

October 24, 2023

Due to a revamp of its financial system, Casey's received the Association for Financial Professionals (AFP) 2023 Pinnacle Awards Grand Prize for excellence in treasury and finance.

According to a press release from AFP, Casey’s implemented a new banking system to improve its “branch banking model, which was consuming valuable resources and having a profound impact on both store operations and the Store Support Center.”

According to the release, “Casey's implemented a smart safe program in all of its 2,550 stores across 16 states. The fully scalable, bank-agnostic solution uses just one platform partner and enables a standard, consistent process. As a result of this solution, Casey's has seen store labor reduction of six hours per store per week, annual labor savings of approximately $10.4 million, and $2 million in annual bank fees saved.”

The Pinnacle Awards Grand Prize, sponsored by U.S. Bank, was presented during AFP 2023 in San Diego, California. The Grand Prize was chosen through a vote by treasury and finance professionals.

"AFP is proud to recognize Casey's General Stores with the 2023 Pinnacle Awards Grand Prize,” said Jim Kaitz, president and CEO of AFP. "Their forward-looking solution demonstrates how a treasury transformation can deliver significant time, labor and cost savings."

"We congratulate Casey's General Stores, the third-largest convenience store chain in the United States, for winning the AFP 2023 Pinnacle Awards," said Martin Nonna, national head of global treasury management sales and consulting for U.S. Bank. "As a sponsor of the Pinnacle Award, U.S. Bank is happy to help Casey's General Stores celebrate the innovation and efficiencies that the company brings to its customers through its 2,550 stores in 16 states.”

The fifth-largest pizza chain in the United States, Casey’s recently trademarked itself as The Official Pizza and Beer Headquarters.