In recent years, Navy Federal Credit Union has phased out its coin-counting machines in branches due to maintenance and reliability issues.
Instead, Navy Federal provides free coin wrappers at its branches, and you will need to roll your coins before depositing them.
If you are looking for alternatives to convert your coins to cash, you can consider these options:
- Other financial institutions: Some local community banks and credit unions still offer coin counting services, though they may charge a fee for non-members.
- Coinstar kiosks: These kiosks are widely available at grocery stores and retailers. They charge a fee for converting coins to cash but may offer fee-free options for gift cards or charitable donations.
- Retailers: Some retailers and self-checkout stations accept coins for purchases, which can be a way to use your change without incurring fees.
If you plan to roll your coins, remember that banks generally provide free wrappers. Each wrapper holds a specific amount: 50 pennies ($0.50), 40 nickels ($2.00), 50 dimes ($5.00), or 40 quarters ($10.00). You can then deposit the rolled coins at a Navy Federal branch.
Where is there a free coin machine?
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.
Why are banks getting rid of coin machines?
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.