Newsroom
CUs: A penny for your thoughts?
Amid the coronavirus pandemic, consumers are using physical currency less frequently, which has resulted in fewer coins moving through the supply chain. NAFCU member credit unions are encouraged to submit responses to this month's Economic & CU Monitor survey by Friday and share their recent experiences related to coin circulation and member coin deposits.
Last month, the United States Mint encouraged consumers to pay for things with exact change and return any spare change to circulation as part of its effort to offset the current disruption to supply channels. As part of the U.S. Coin Task Force, NAFCU has been working with the Federal Reserve, the U.S Mint and other industry stakeholders to address the problem and outline ways consumers can help.
Credit unions are encouraged to help promote awareness and understanding of the coin circulation issue by using #GetCoinMoving on social media posts.
Reponses to the Monitor survey are due this Friday, Aug. 14; the survey can be filled out online.
NAFCU relies on survey responses to provide its members a glimpse into the trends affecting the credit union industry as a whole. The association also uses survey responses to inform its advocacy efforts on Capitol Hill and with regulatory agencies such as the NCUA, the Bureau of Consumer Financial Protection and the Federal Reserve.
For more from NAFCU's award-winning research team, check out the association's Macro Data Flash reports for insights into interest rates, auto sales, the housing market, and more.