Posted on 07/25/2023 11:58:48 AM PDT by lowbridge
The 102-year-old Infinity Credit Union will stop handling coins at its five Maine locations on Sept. 1 as part of its merger with Deere Employees Credit Union in Illinois, becoming the first financial institution in the state to do so.
The coins curtailment by Maine’s oldest credit union does not appear related to the shortage of them during the height of the COVID-19 pandemic, when business and bank closures slowed circulation. Deere said the change is to keep all of its credit unions, including the Infinity ones in Maine, under the same system focused on digital transactions.
Infinity is the only Maine credit union to institute a no-coins policy, Jen Burke, spokesperson for the Maine Credit Union League, said. It could be among the first in the U.S., but part of a long-term trend. A 2021 Brookings Institution study predicted cash will soon become obsolete worldwide, with payments made with smartphones or cards becoming the norm.
Deere, which started in 1934 to serve employees of the John Deere company, merged with Infinity two years ago. It has 24 branches in Deere locations and others throughout the U.S. The two credit unions are changing their names to Empeople Credit Union.
Signs notifying customers of the coming change worried some patrons, including Andrew Melrose, owner of contractor Melrose Electric in Westbrook. He asked a bank employee whether he still would be able to deposit rolled coins, and the answer was no.
He was told he could deposit a check written for an uneven amount, but if he wanted the change back, the bank would have to write him a check.
“But I can’t cash the check there,” he said. “It’s really ridiculous. It makes it incredibly hard for me to operate.”
(Excerpt) Read more at bangordailynews.com ...
The credit union is disparaging the US currency.
I don’t see how they can refuse legal tender.
A credit union is not a bank. Don’t expect it to be.
They aren’t buying or selling anything. It’s a money holding place basically.
Volume
So much for hope and change.
Digital transactions
What money you have no stinking money in this bank.
My bank has gotten rid of its coin machine and now requires that you roll your coins.
COVID scam = the opening salvo in the worldwide war against personal freedom (Globalist agenda)
as we enjoy the convenience of digital currency and an all electric AI computer controlled world that can AND WILL be flipped off and on with the flick of a switch for political reasons.
That has to be illegal
"Maine’s oldest credit union will stop taking coins"
FR: Never Accept the Premise of Your Opponent’s Argument
This credit union policy won't be the end of this story imo. This is because when the states drafted the Constitution they obligated themselves to use nothing but gold and silver coin as tender for debt.
"Article I, Section 10, Clause 1: No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts [emphases added]; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility."
This is why Democratic and Republican Trump supporters need to primary as many state and federal incumbent lawmakers and executives as they can in 2024.
More specifically, regardless that our beloved career lawmakers and executives have sworn to protect and defend the Constitution, none of them are doing so imo.
The definition of insanity is reelecting your beloved career state and federal lawmakers and executives over and over again, expecting those same politicians to find remedies for unconstitutional government policies every time.
Patriots, let's not allow ourselves to be fooled for a third time in 2024.
My apartment laundry room recently switched from major credit cards to an exclusive cell phone payment system.
Obviously, the owners of my building are getting a sweet kick back deal from this PayPal style clone.
This payment company - that NO one has ever heard of before - demands that we submit our checking account info or major credit card info to fund our new laundry accounts.
Sorry, kids - that is NOT going to happen!
All of the elderly folks in my building are boycotting the new payment system.
Instead, all of us are standing in line at the bank every month or two to buy our quota of quarters!
All financial institutions that accept federal tax deposits are Required by LAW to accept ALL forms of currency, including change.
Tell the bank or credit union to GFY and find another institution to do business with.
the obvious solution is for under-served clients to simply unbank with Infinity Credit Union and rebank with a some full-service bank ...
if enough folks do that, ICU will go revoke or go broke ...
Instead, all of us are standing in line at the bank every month or two to buy our quota of quarters!
bet the quarter slots vanish soon.
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