(COLDWATER) – A Michigan based bank is offering a new in-CENT-ive to exchange your change for cash.

With the Federal Reserve's nationwide coin shortage, Quinn White, Vice President and Head of Marketing for Southern Michigan Bank & Trust says they are encouraging everyone to exchange their coins for cash to help circulate extra coins back into the community.

White says any individual that exchanges coins at Southern Michigan's Coldwater main office, or their branches in Three Rivers, Hillsdale or Portage until July 31, will be entered in a drawing for a chance to win a $50 gift card. Customers and non customers are welcome and the fee will be waived for non customers.

White says the coin shortage, which is a result of the COVID-19 pandemic, can be mitigated by exchanging coins for cash, and by using electronic payment methods such as debit cards, gift cards and mobile wallet like Google Pay and iPay, whenever possible.