Some branches of Navy Federal Credit Union may have coin machines that allow you to deposit loose change directly into your account . However, reports suggest that some Navy Federal branches may no longer offer coin machines and instead require coins to be rolled for deposit.
If a coin machine is available at your Navy Federal branch, here’s how you might use it based on general knowledge about coin machines at credit unions and a specific YouTube video about using a coin machine at a credit union:
- Open the door of the machine.
- Pour your loose change into the designated opening.
- The machine automatically sorts the coins.
- After pouring all the change, close the door.
- Confirm on the screen that you are done.
- The machine will count the coins and print a receipt showing the total value.
- Check the rejected coin slot for any coins that the machine didn’t accept.
- Take the receipt to the teller counter for the cash equivalent or deposit it into your account.
- Roll your coins: If your branch does not have a coin machine, you may be required to roll your coins before depositing them. Navy Federal provides free coin wrappers.
- Coinstar kiosks: Coinstar kiosks at supermarkets allow you to exchange coins for cash (with a fee) or gift cards/donations (often fee-free).
- Use them at self-checkout: Some individuals opt to use their accumulated change to pay for purchases at self-checkout registers at retailers to reduce the amount of loose coins they have.
- Availability: Coin machine availability can vary by branch, so it’s always best to contact your local Navy Federal branch to confirm if they have one before visiting.
- Fees: Some credit unions may charge a fee for using their coin machines, particularly for non-members.
- ATM deposits: Navy Federal ATMs can accept cash deposits, and the funds are typically available immediately for cash withdrawals. However, coins cannot be deposited through Navy Federal ATMs.
It’s recommended to call your local branch to inquire about their specific policies regarding coin counting and deposits.
Do any banks have free coin-counting machines?
I can help with that. Key Takeaways. Your local bank branch is a good place to exchange coins. The branch will typically give you coin wrappers for free. Credit unions or community banks are more likely to have free coin-counting machines for members.
Does Navy Federal charge for currency exchange?
Great question! What are the rates and fees? Any time you use your Navy Federal Debit Card, CUCARD or Navy Federal Business Debit Card overseas, you’ll be charged a 1% International Service Assessment (ISA) fee on the transaction amount, which helps cover the cost of currency conversion.
Why are banks getting rid of coin machines?
Good point! It’s kind of expensive to operate. Lots of banks realized it was a costly item that did not bring in a ton of customers. There are some banks that still operate coin counting machines; they may charge a fee for this, similar to Coin Star.
How to use a coin machine at Credit Union?
And it’s going to automatically sort everything for you. So just keep on throwing your change in until you’re complete. And when it’s all done you want to shut the door.