Maine’s Oldest Credit Union will be the First to Say Goodbye to Coins
How many of you still keep a change jar?
The one in my house is actually a basket, but serves the same purpose. On the rare occasions I do use cash, I keep around the change for later. Sometimes I bring it to work for the vending machine, and other times I grab a handful for tolls. And other times I dip into it to do the camp's initial laundry pile to get opened up.
But more often than not, it just sits in its little basket on the table. When I was a kid, change was pretty much the only money I could get my hands on. I'd either find it stashed about, or search through the couch or whatnot. It was the closest I'd ever come to earning my own money for several more years.
Maine's oldest credit union is going to do away with coins altogether.
On the other hand, how many of us have complained over the years when handed a bunch of change, how great it would be if there was just no more change. Like, could it just go away instead of being used in a grown-up piggy bank? Maine's oldest credit union, Infinity Credit Union, will be the first to make the bold move across the state, according to the BDN.
At all five of it's locations, Infinity will stop giving and taking change as of September 1st. With more and more people just using their debit cards or even phones to make their transactions, change is going by the wayside.
However, some businesses depend on coins like restaurants and laundromats. Those customers of Infinity will have to make other arrangements. And even though there don't seem to be any immediate plans by other financial institutions to make the same switch, they probably won't be the last. We'll just have to see how ling it takes.