New $10 Roll Out Slated for March

WASHINGTON-March 2 is when credit unions and other financial institutions can expect to begin receiving shipments of the newly redesigned $10 bill. Following the domestic roll out, the new bills will be released internationally. The new $10 includes a number of revamped security features from color-shifting ink to a watermark to a security thread. The old and new bills will circulate concurrently. The joint announcement from the Treasury Department and the Federal Reserve Board was intended to alert businesses, such as credit unions, to train cash-handling employees on the updated security features, designed to stay ahead of high-tech counterfeiters and make any technical adjustments necessary for ATM, vending and other machines. Training materials are available at www.moneyfactory.gov/newmoney. “We expect to update currency every seven to ten years in order to stay ahead of the latest digital technology available to would-be counterfeiters,” Bureau of Engraving and Printing Director Tom Ferguson commented. “Each time we introduce a redesigned note into circulation, our objective is its seamless transition into daily commerce, both in the United States and around the world.” Updated $50 and $20 bills have already been introduced in this cycle. A redesigned $100 bill is next. At this time, the government has no plans to redesign the $5 note, and the $1 and $2 notes will not be redesigned either.