ARLINGTON, Va.—October is the U.S. Mint’s #GetCoinMoving month – a month-long campaign created to encourage consumers to redeem their spare coins.
According to the Mint, new tailored resources and recommendations issued as part of the campaign for financial institutions can be found on the U.S. Coin Task Force website.
Throughout October, credit unions are being urged to encourage their members to “get coin moving” through themed weekly activities, which include:
- Gather your coin
- Discover your coin
- Make a difference, turn in your coin
- Find your spare change
On the website, the task force has provided social media graphics, facts about coins, potential promotion incentives, an employee coin drive toolkit, and “sample social media captions to garner interest” and participation from credit union members. Those resources can be viewed here.
Strategies for FIs
In addition, the task force explained how depository institutions can enhance their coin acceptance capabilities and encourage members to deposit their coins.
These suggestions include:
- Renting equipment to count coins
- Creating a socially-distanced system where members are encouraged to drop off coins to be counted
- Offering for the funds to be deposited into an account, given via a cash redemption voucher, or loaded onto a loyalty card
- Keeping an open line of communication with an armored carrier company
- Making coin wrap kits available to members.
To help promote awareness and understanding of the coin circulation issue, the task force is encouraging use of the #GetCoinMoving and #EveryCoinCounts hashtags on social media posts and make use of the task force’s resources to encourage members to participate.