National coin shortage
Break open your piggy bank!
BANGOR, Maine (WABI) -
The federal reserve is reporting a shortage of coins across the country.
Be aware some local businesses may need exact change or electronic payments.
COVID-19 has disrupted coin production and circulation.
The Federal Reserve is asking institutions only order enough coins to meet demand.
Bangor Savings Bank Director of Consumer Banking Operations Melissa Marcurelle says they asked employees and customers to bring in their coins over the past month.
“We’ve been leveraging social media to get the word out, asking folks to come in and use our coin machines and bring their coins in, and it’s been wildly successful, and honestly has been what’s gotten us through the last four weeks.”
Jen Burke, Public Affairs and Communications Manager for Maine Credit Union, says they’ve seen a big uptick in electronic transactions.
“People want to be cashless right now, and to be honest, we have been encouraging our members to use mobile banking and online digital tools.”
If you’re looking to put your piggy bank back in circulation, check to see if your local bank or credit union has an open lobby with a coin sorter.
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