Casey’s General Stores was named the winner of the Association for Financial Professionals' (AFP) 2023 Pinnacle Awards Grand Prize for excellence in treasury and finance. The Pinnacle Awards Grand Prize, sponsored by U.S. Bank, was presented during the AFP 2023 conference in San Diego. The Grand Prize was chosen through a vote by treasury and finance professionals.
Casey’s General Stores’ submission centered on improving its antiquated branch banking model, which was consuming valuable resources and having a profound impact on both store operations and the Store Support Center, the company said.
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.
“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.”
U.S. Bank donated $10,000 to the charity of Casey’s General Stores’ choice, the Nebraska and Iowa Chapter for the Juvenile Diabetes Research Foundation, an organization harnessing the power of research, advocacy and community engagement to advance life-changing breakthroughs for type 1 diabetes.
“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 & 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 runners-up for the Grand Prize were Delta Air Lines Inc. and Ultradent Products Inc. Along with Casey’s General Stores, these organizations were selected as finalists for their ability to demonstrate innovative solutions that advance both their organizations and the treasury and finance profession.
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.