The coin counting machine at Northwest Federal Credit Union branch in Herndon, Va., got a workout last month. George Shoemaker, a member for nearly 20 years, took to heart Benjamin Franklin's advice: A penny saved is a penny earned.
For 20 years, Shoemaker has been saving his pocket change and his pennies, nickels, dimes and quarters have added up. By the time he brought the coins to Northwest Federal for deposit, they took over two hours in the coin counter, and totaled $7,124.
"I decided back around 1990 to start saving my loose change. I work at a grocery store as a meat cutter and had access to those old barrel style pickle jars to store my change. Today, I had more than 20 big pickle jars full of pennies and coins," said Shoemaker.
Shoemaker said he plans to use the money for his retirement.
This is the largest, single deposit of coins counted at Northwest Federal, which offers its members free access to coin counting machines.
"Some may see pocket change as a small or unimportant amount of money," said Northwest Federal President/CEO Gerrianne Burks. "George's experience illustrates how saving small quantities can really add up. We are pleased he has chosen to make this deposit with Northwest Federal, where it can now grow even more."
Established in 1947, Northwest Federal currently serves more than 111,000 members and has assets of $2 billion.
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