At first they let me have 10 rolls of each and now they say it is breaking some kind of rule to let me have any rolls. So yesterday i walked in and the head teller met me at counter to tell me they would no longer be able to give me any rolls of coins. I told her that I knew that and asked if they were also not taking deposits? Then I started shoving 500 dollars worth of coins through the little hole in the plexiglass....
Too bad. I've had no problem with my CU. If I bring in 25 rolls (I do need to re-roll them), they really don't have a problem giving me 25 in trade, if they have 25 that I haven't looked at yet (I put a large "X" on every roll I've checked, and they know). They've even ordered a box of halves for me. Even a local bank where I'm not a member will trade rolls for rolls or loose coins they have in the teller drawers.
These changes to banking policies have been a long time coming. For years and years, people that do not have a commercial account, needing the rolls of coins for a business, have been inundating the banks with orders just so they could search for silver, errors and varieties only to return the unwanted coins to get more - ad infinitum - ad nauseum! Most of these people don't care that it costs the bank money to provide services for counting, rolling, boxing and delivery. I don't give a damn if someone has the gall to say that they deposit thousands of dollars weekly or monthly. Do you really think the bank will be able to remain solvent on your "chump change"? ~Chris
I could respect that if they had had that conversation with me, but they acted like it was no problem and I only go every couple of weeks. I make every effort to make this as easy and convenient as possible Then they just do an about face, I'm as easy going a person as you could meet. I limited what I asked for and was told from the start that it was no problem. I roll everything and write the account number on each roll to make it as easy as possible. I use 2 other regular local banks and neither treat me like I am trying to rob the place like this credit union does. 35 years of business with them ought to count for something. I had no idea this would be this big a issue.
The "Banks" are regulated by the Federal Reserve, the credit unions by the" NCUA " as I remember. The credit unions (seems) to have a more worrisome set of rules and higher charges. Banks can borrow the coins and return damaged coins for credit, not the credit union. The bookkeeping and the problems do not make it such that they would break even so why? So yes they have different rules. Next time you are in there ( I certainly hope you have an account there), ask if they have a brochure. Most people think CU can do all of the things Banks can, but not so. IMO, Jim
It can be frustrating however I get the bigger picture. Find a different bank is what it will boil down to. There are many that will give out coins.
Credit unions are the worst when it comes to exchanging denominations or asking for rolled coins. I haven't been in one in years as they always ask if I have an account. It doesn't matter if I've been in California, Oklahoma or Maine. I recall in Maine in 2013 I wanted to do a modest denomination exchange of some notes on my birthday and I was still soundly rejected. The tellers directed me to a nearby bank in town wherein there was no problem handling my request. In summation, I don't necessarily blame the tellers at credit unions for being stubborn; I blame the management or whomever makes their unappealing decrees and policies. What I would do if I was MRC1963 is either come up with an agreement with the credit union wherein they will exchange your rolls for different ones or make them into a permanent dumping location. Regardless of your 35-year history with the credit union, if neither of these work out I'd close out your account(s) and go elsewhere.