Community State Bank Reaches Coin Limit Through Coin Buy Back Program
Last week Community State Bank (CSB) launched a coin buy-back program to assist local businesses being affected by the United States coin shortage. After only a week of the program, CSB is announcing that they’ve reached all of their current program goals. The coin buy-back program will be suspended at the end of the business day on Tuesday, July 21st, 2020.
“The response has been tremendous,” said Bank President and CEO, Scott Huedepohl. “We’ve had people contacting us not only from our community, but all over United States. Our goal was to generate enough coin inventory to help our local businesses. We’ve met and far exceeded our goals.”
The program, which launched on July 14th, offered a $5 bonus for every $100 worth of coin turned in to any Community State Bank location. CSB customers and non-bank customers were able to benefit from the program for up to a max coin bonus of $500.
The program began getting local attention late last week, and gained national notoriety after a local report by Evan Peterson (Fox 6 Milwaukee), was picked up by Fox affiliates all over the country. That also led to a weekend story that was published by Alaa Elassar of CNN International.
“We received an abundance of coin in a short amount of time,” said AVP Retail Operations Director, Katie Stolp. “I’ve never seen anything like it. We’re very fortunate that we have the tools and ability to process all of the coins. That coin is now being put to good use and helping local business owners all over Southeast Wisconsin.”
“Thank you,” said Huedepohl. “Thank you to everyone who came in and dropped off coin. Once again, our local communities delivered, and we’re so grateful.”
Community State Bank plans to monitor inventory, and has indicated that if the need arises, could re-start the program.
For more information or updates regarding the program, please continue to visit Community State Bank online at CSB.bank.