RACINE COUNTY – An area bank is again offering free coin counting and exchange to help alleviate a nationwide coin shortage.
North Shore Bank announced this week that it will open free coin counting and exchange for dollars to individuals from Monday, May 10 through June 30. The Federal Reserve has called on all U.S. banks to be strategic in their coin requests this month. The agency reported that coin orders began to drastically increase last month, exceeding seasonal patterns and supply. As such, beginning in May, banks will receive only a limited amount of the coin requested from the Fed.
In summer 2020. there was also a coin shortage caused by lack of coin circulating. North Shore Bank successfully recirculated nearly $1 million for local business needs.
“Last year, we saw the community rally together to help recirculate coin, and we hope to see that again. We had customers and community members coming in to count coin that they’d held onto for 20+ years, and it made a huge difference,” Susan T. Doyle, North Shore’s senior vice president of retail banking said in a news release. “We are reinstating the program now to assist both individuals and local businesses that rely on coin to operate, and we are confident that we can continue to make sufficient supplies of coin available here in Wisconsin.”
All North Shore Bank lobbies and branches are open and offer coin counting. The free service will be provided to any individual who visits a branch and no appointment is necessary.
North Shore Bank’s Racine County branches are in Racine, Burlington, and Union Grove. The mutual savings bank has 45 offices throughout eastern Wisconsin and northern Illinois. To find a North Shore Bank location, visit: https://www.northshorebank.com/locations.aspx