Midwestern Bank Comes Up With An Idea To Collect Change For Coin Shortage
Written by Site Hub on July 20, 2020
A bank in Wisconsin is trying to combat the nationwide shortage of coins by creating a program that gives a $5 bonus for every $100 with of coins that gets turned in.
Anyone who brings in coins to one of the 7 locations in the state can get a maximum of $500 with the deal.
Community State Bank Vice President Neil Buchannan said:
“We knew we needed to figure something out. We hate the idea of telling our customers, ‘No, we can’t give you one of the services we’re proud to provide,’ so we came up with a creative way to get things done. Just because this hasn’t been done before doesn’t mean it isn’t going to work — and it has already made a huge difference.”
So far, hundreds of people have shown up and dropped off their spare change. Now local businesses aren’t struggling as much from the shortage.
Customers are NOT being charged for any coin counting transactions and some are just dropping off spare coins without participating in the program.
Source:
CNN
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