Bankers encourage consumers to use spare change

The demand for coins at local businesses has increased but a large amount of them remain with consumers.

Posted: Jul 23, 2020 8:23 AM
Updated: Aug 3, 2020 11:00 AM

SALEM, Ore. -- The Oregon Bankers Association is encouraging Oregonians to deposit and use their spare change. 

The association reports that the rate of coin recirculation slowed significantly after retailers started to close. Consumers migrated to online shopping and the use of debit and credit cards to avoid close contact with cash.

As businesses have reopened, the demand for coins has increased, but a large portion of coins remain with consumers.

“In a normal period of time, more than 4 billion coins are deposited — or recirculated — each month,” said Linda Navarro, OBA president and CEO. She said beginning in April fewer than two billion coins were being recirculated.

Navarro also said there is an adequate amount of coins in the economy right now but the slow circulation means a sufficient amount of coins will not be available when needed.

Oregon Coronavirus Cases

Data is updated nightly.

Cases: 70832

Reported Deaths: 885
CountyCasesDeaths
Multnomah15875232
Washington997499
Marion9017137
Clackamas585377
Umatilla430149
Lane420241
Jackson364428
Malheur237942
Deschutes222814
Yamhill164816
Linn138522
Polk116816
Douglas91217
Jefferson80811
Union7715
Benton7667
Klamath7604
Morrow6517
Lincoln61315
Wasco51919
Josephine5104
Columbia4783
Coos4182
Hood River3941
Clatsop3510
Baker2723
Crook2176
Grant1341
Curry1292
Tillamook1230
Lake1171
Harney961
Wallowa713
Sherman230
Gilliam220
Wheeler30
Unassigned00
Eugene
Broken Clouds
44° wxIcon
Hi: 52° Lo: 31°
Feels Like: 44°
Corvallis
Overcast
40° wxIcon
Hi: 47° Lo: 32°
Feels Like: 40°
Roseburg
Overcast
39° wxIcon
Hi: 52° Lo: 32°
Feels Like: 39°
North Bend
Clear
46° wxIcon
Hi: 55° Lo: 37°
Feels Like: 46°
KEZI Radar
KEZI Temperatures
KEZI Planner

LATEST FORECAST

Community Events