In October 2020, Casey's General Stores formed a treasury function for the first time. The chain of around 2,650 convenience stores primarily serves smaller, rural communities. "We were founded in Boone, Iowa, in 1968, and we are proud to be a critical resource for the communities we serve," explains Eric Larsen, Casey's treasurer. "In many of those communities, we are the only local source for groceries and fuel."
This business model means Casey's does a lot of business in cash. By the time the company wound up its treasury department, its scale had made management of bills and coins a significant business challenge.
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Meg Waters
Meg Waters is the editor in chief of Treasury & Risk. She is the former editor in chief of BPM Magazine and the former managing editor of Business Finance.
