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Calling All Coins!

North Shore Bank - Brookfield, Wisconsin

2021 Community Commitment Awards Submission

  • Entry Category: Community and Economic Development
  • Asset Size: Small

From laundromats to grocery stores, the COVID-19 pandemic caused a nationwide coin shortage for struggling businesses across the country, in some cases halting business that relied on cash. Recognizing the immense challenge this caused for its business customers and the community, North Shore Bank came up with a solution to enlist the public in assisting businesses. The bank, across its 45 branches in Wisconsin and N. Illinois, offered its coin counting services for free – a task for which non-customers would normally pay a 5% fee and a service many banks no longer offer. Customers could bring in spare change in exchange for bills, and North Shore Bank could then re-circulate coins through the Federal Reserve and in some cases re-distribute the coins to businesses that relied on them. The program collected nearly a million dollars in coin to recirculate to businesses in need as well as created strong positive national, regional and local attention for the community bank.