First Trust & Savings Bank of Oneida announced Wednesday a campaign aimed at encouraging consumers to shop locally.
In a letter to Scott County business leaders, FTSB president Jim Johnson said that the bank is "putting some money" behind its belief that shopping locally can help stimulate the local economy.
"In our role as (an) independent, local community bank, First Trust & Savings Bank knows the importance of keeping locally-earned dollars actively at work right here at home," Johnson said. "We also recognize and support area residents dining and shopping with independent/local businesses and restaurants."
As part of FTSB's "Go Local" campaign, which will run through Nov. 30, the bank will offer monthly cash prizes for local shoppers.
According to Johnson, every person age 18 or older who spends $50 or more with a "small local business or restaurant in Scott County" and submits their receipt at a FTSB location will be entered for a $100 cash drawing each month. Additionally, a $500 grand prize winner will be drawn from all receipts on Dec. 5, 2013, Johnson said.
Receipt boxes will be located at FTBS's locations in Oneida, Huntsville and Jacksboro.
"It is our hope that our Go Local campaign will result in increased sales for area businesses, and also to serve as a reminder of the importance of shopping, dining and banking locally — keeping local dollars working in our communities," Johnson said. "In addition, we hope that many new relationships will be established between business owners and new customers, many of whom will be quickly reminded of the higher level of service and responsiveness a small local business provides."
Scott County Chamber of Commerce executive director Stacey Kidd applauded the Go Local campaign.
"Shopping local has been a major point of emphasis for the Chamber of Commerce over the past couple of years through our Shop Scott campaign," Kidd said. "Many studies have shown that every dollar that is spent in the local community helps provide a boost to that community's economy. We are thrilled that First Trust & Savings Bank hasn't only bought in to the concept of shopping local but that they're working actively to promote it."
The FTSB Go Local campaign is not affiliated with the Chamber of Commerce's Shop Scott efforts, Kidd said. But, she added, it is an example of a business making a commitment to improving the local community.
Official rules of the Go Local prize drawings are available at each of FTSB's locations.