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Home » Treasury should raise awareness of coin slowdown to help circulation
Policy & Issues

Treasury should raise awareness of coin slowdown to help circulation

March 21, 2022
How Coinstar Can Benefit Your Credit Union

CUNA and other organizations wrote to Treasury Secretary Janet Yellen Monday to request Treasury’s assistance to reinvigorate coin circulation within the U.S. The pandemic has led to decreased circulation of coins over the past two years, and the U.S. Mint says it does not have the capacity to make up for the circulation slowdown.

“The consequences of a coin circulation slowdown fall hardest on consumers that do not have the ability to pay electronically. If retailers are not able to offer change for cash purchases consumers who rely on cash will be vulnerable,” the letter reads.

“We ask that you and the Department of the Treasury use your platform and your voice to raise public awareness of this coin circulation slowdown and the need to get coin moving in the economy,” it adds. “By amplifying the [U.S. Coin Task Force’s] messaging through your public engagements and Treasury’s many communication channels, you can help the most coin-dependent of consumers and the financial institutions and retailers that serve them.”

CUNA is a member of the U.S. Coin Task Force—a group of industry leaders convened by the Federal Reserve in July 2020 working together to identify, implement and promote actions to reduce the COVID-19 related disruptions to normal coin circulation.

Credit Union Magazine: Spring 2022

Spring 2022

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Credit Union National Association is the most influential financial services trade association and the only national association that advocates on behalf of all of America's credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

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