Federal Reserve Limits Coin Orders The Federal Reserve once again has begun to limit coin orders for depository institutions in an effort to meet increased demand for coins fairly and equitably across all DI customers. On May 3, Federal Reserve banks began to allocate orders for dimes and quarters Additionally, the Fed – which is the U.S. Mint’s lone customer for coins to be released into general circulation from the Philadelphia and Denver Mints’ production – is monitoring its inventories to determine whether order limits will be extended to pennies and nickels as well. The Federal Reserve fi ..read more

PPP Application Deadline Extended With President Biden’s recent signing of the PPP Extension Act of 2021 into law, the Paycheck Protection Program application deadline formally changed from March 31 to May 31. The act also provides an additional 30 days for the Small Business Administration to finish processing applications received by May 31. “President Biden sent another strong message to America’s more than 30 million small-business owners negatively impacted by the pandemic: help is here,” said Isabella Casillas Guzman, head of the U.S. Small Business Administration. “By signing the PPP Ex ..read more

No one gets in the laundromat business for the love of doing other people’s laundry so the motivation comes in pursuit of giving great service while turning maximum profits.  Let’s look at the money-making secrets of the best laundromat owners: Be the Best Digital Marketer – Potential laundromat customers consult their smart phones first. Make sure your Google My Business listing is perfect so those looking for laundry services find you first.  CLA’s AMP Digital Marketing Service brings you the best solutions at the best price: Click here to learn more about AMP Negotiate the Best U ..read more

Brian Wallace, president and CEO of the Coin Laundry Association, presents a quick update on the laundromat industry and the CLA. Click to begin playing the video. COVID-19 Crisis The CLA has been advocating strongly for the vaccination of laundromat employees as essential workers. It’s important to let local authorities know that these workers need to be vaccinated as soon as possible. Last week, the CLA published some helpful resources, including a press release and a letter template you can use to send to local government and health officials. Download the press release Download the lette ..read more

Federal Reserve Lifts Quarter Allocation Cap Laundromat owners will soon or may already be seeing an easing in the nationwide shortage of quarters, which was created by the COVID-19 pandemic. On November 16, the Federal Reserve removed the coin order cap for quarters, thanks to steady deposits from financial institutions and stable U.S. Mint production. As a result, financial institutions now can place orders for quarters without limitations. Although the situation is not yet fully resolved, coin circulation is improving. Efforts to boost coin circulation have enabled the Federal Reserve to in ..read more

Lawmakers Introduce Coin Composition Legislation U.S. Senators Mike Enzi (R-Wyo.) and Maggie Hassan (D-N.H.) have introduced bipartisan legislation to allow the U.S. Mint to adjust the metal content of circulating coins in an effort to save taxpayer dollars. The Mint estimates that, by adjusting the metal content of coins, the federal government could save between $10 million and $17 million a year. “By tweaking the metal composition of our coins, the U.S. Mint could, in the short term, create more coins amid a temporary shortage and, in the long term, save millions of dollars every year witho ..read more

Brian Wallace, President/CEO of the Coin Laundry Association presents a laundry industry update in this brief video. COVID-19 We would love to hear from you about your policies and procedures regarding your store operations amid the coronavirus pandemic. In talking with our members and industry peers, we have reports that some stores have been lax in employing best practices. We encourage CLA members and store owners in general to continue to adhere to the guidelines including social distancing and of the CDC and other authorities. Keep in mind that the designation of laundromats being essent ..read more

The Coin Laundry Association brings a Laundromat Business Update recorded Sep. 8, 2020. Brian Wallace, President/CEO of the CLA, created the following video to bring you up-to-speed on the latest happenings within the self-service laundry industry. COVID-19 Update The CLA wishes to thank all of the store owners and operators who continue to lookout for the welfare of their communities and to keep laundromats open as an essential service. Laundry owners reported earlier in the 2nd quarter reductions in business on average of around 30% lower than normal. However, the 3rd quarter so far appears ..read more

The Coin Laundry Association introduces some exciting changes coming to the CLA Connect Community (commonly known as the Open Forum) in August 2020. Watch this brief video from CLA President/CEO Brian Wallace: Based on your feedback, CLA will be launching a new and improved forum with some of the improvements below: A new, modern design with easier navigation and functionality. Increased privacy from the public, which allows discussions exclusive to laundry professionals. Two new communities for CLA Premier Laundry Owner members and women in vended laundry. Addition of ribbons to recognize a ..read more

PPP Loan Program Extended President Trump recently signed a bill to extend the deadline to apply for forgivable small-business aid through a key coronavirus relief program. The legislation extends the deadline to request Paycheck Protection Program loans to August 8, from June 30. Congress created the program as part of the $2 trillion pandemic rescue package passed in March. It aims to help small businesses keep employees on payroll during closures designed to slow the outbreak. The Trump administration has yet to distribute $130 billion in loan funds set aside for the program. Considered a l ..read more