Financial institutions can increase business activity and leave a positive impression on the local community by letting nonprofit organizations access coin counting machines. Most consumers don't like to hold on to large quantities of loose change on a regular basis. That's why many charitable groups and public entities often conduct coin drives to reach fundraising goals in small, individual increments. Over time, these totals can add up and create complications for the employees and volunteers responsible for counting the money and turning it into cash.
This style of fundraising continues to be popular throughout the U.S. According to The Daily Herald, a newspaper covering Everett County and Snohomish County in Washington state, local retailers recently decided to donate the money received in their coin boxes at checkout counters to the Red Cross ever since a mudslide destroyed homes in Oso, Wash. in late March. Public school systems also frequently hold coin fundraisers to finance their own programs. The Minnesota-based St. Cloud Times newspaper reported that Westwood Elementary School students collected more than $200 in pennies, as well as $226.10 in nickels during a Coin Wars donation campaign. The money will be used to support field trips and other activities for students.
Consumers enjoy the ability to donate their loose change to a good cause. However, the frequent success of these initiatives often presents the receiving organizations with logistical challenges associated with counting individual coins and finding a convenient way to turn the money into ready-to-spend capital. Local bank branches can offer access to self-service coin counters to make this process run as quickly and efficiently as possible. This resources makes it possible for charities and other organizations to reap the benefits of donations without worrying about complex practical details.
April 2, 2014