CALLING ALL COINS: North Shore Bank Reactivates Free Coin Counting and Exchange Based on U.S. Coin Task Force Plea to #GetCoinMoving in October

Coin disruption related to COVID-19 shutdowns still a crucial challenge, causing consumer and business impacts

10/5/2022 11:50:00 AM
BROOKFIELD, Wis. – The challenge of recirculating coin throughout America continues to negatively impact consumers, businesses, and the public. Accordingly, the U.S. Coin Task Force this week issued a plea for the public to #GetCoinMoving during the month of October. To assist, beginning today, North Shore Bank will be offering all individuals free coin counting and exchange at all of its 43 branches to help increase local supply.

According to the Federal Reserve, an estimated 15 billion coins are lying dormant with consumers. As a result, the agency is rationing coin orders and banks are receiving only a limited amount of coin requested from the Federal Reserve.  The U.S. Coin Task Force, created in 2020, is comprised of representatives from U.S. Mint, Federal Reserve, American Bankers’ Association and more, to address COVID-19-related disruptions to normal coin circulation.

Beginning in 2020, there was also a coin shortage caused by lack of coin circulating, and North Shore Bank successfully recirculated over $1 million for local business needs. The current free coin counting and exchange for dollars is open to individuals again who visit a North Shore Bank branch and will run through October 31.

“While North Shore Bank hasn’t faced any disruptions, the national coin circulation interruptions continue and can be an issue that impacts local businesses and consumers as well. It’s our hope that those who previously didn’t take advantage of the free coin counting, or have accumulated more coin, will bring it in so that together, we can assist local businesses that rely on coin to operate,” said Susan T. Doyle, senior vice president of retail banking at North Shore Bank.

Individuals in the community and personal banking customers interested in having their coins counted and exchanged can visit any North Shore Bank branch where each office offers coin counting. Through the end of October, the free service will be provided to any individual who visits a branch and no appointment is necessary. While this is not complimentary for commercial businesses, local business will benefit from the replenishing of coins, and we are happy to be able to help increase those supplies.

Founded in 1923 and headquartered in Brookfield, Wisconsin, North Shore Bank is a mutual savings bank with assets of over $2.5 billion and 43 offices throughout eastern Wisconsin and northern Illinois. Wisconsin locations are in metro Milwaukee, Germantown, Ozaukee County, Racine, Kenosha, Appleton, Menasha, Green Bay and surrounding areas, Burlington, Union Grove, Muskego, and Door County. Locate a North Shore Bank office. You can also connect with the bank on LinkedIn, Facebook, Twitter, Pinterest, Instagram, and YouTube.

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