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Church, Foundation team up to spur local economy with COVID Cash
McCOOK, Neb. -- Every dollar counts. Every dollar which is spent locally. Every dollar which flows into a local business. Every dollar which a local consumer can use to buy groceries or a pair of shoes.
All those dollars add up and will make the difference in how a community continues through this crisis and then rebounds afterward.
McCook has a new stimulus spending program to help those dollars not only stay here but also stretch a bit farther and benefit local businesses and individuals.
The McCook Community Foundation Fund provided a $10,000 grant to McCook Christian Church to create McCook’s Stimulus Spending Program. The funds are from MCFF’s new COVID-19 Response Account, created to specifically address issue related to the pandemic.
Grant funds will be used for a bonus when purchasing certificates -- COVID Cash. The COVID Cash certificates will then be spent at local businesses, more than 100 as of today and counting.
Essentially, this is how the program will work:
A person 18 or older will spend a minimum of $100 with a maximum of $500. In return, they will receive a $20 bonus for every $100 spent - $120. The COVID Cash certificates will be issued in $10 increments which can then be used at dozens and dozens of local businesses just like cash. A list of businesses will be provided when the certificates are purchased.
Certificates can be purchased with credit card or cash. No checks will be accepted.
The first date to purchase the COVID Cash certificates will be April 20, and they must be spent by Sept. 1, 2020.
The certificates will be available through a newly-created office at the Keystone Business Center on Norris Avenue. Thanks to the Norris Institute which rents the space, the public will stop by the Norris Alley office on the first floor of the Keystone, entering through the lobby doors and going to the right, allowing people to stay 6-feet apart and out of the elements in case of bad weather.
Volunteers from McCook Christian Church will have the Norris Alley office 11-1 and 4-7 Monday through Friday.
The McCook Stimulus Spending Program was created to benefit both individuals and businesses in McCook and Southwest Nebraska, encouraging consumers to shop locally.
By shopping locally, consumers are making a huge difference in creating local jobs and local wealth.
And with the federal stimulus checks arriving soon, consumers have the potential to make a huge impact. If the public takes advantage of the $10,000 in bonus funds combined with $50,000 from individuals, $60,000 in spending will be put into the local economy over the next three to four months thanks to the COVID Cash certificates.
"COVID Cash will aid in stimulating the area economy while offering a financial benefit for both shoppers and local businesses,” MCFF Chairperson Cindy Huff said. “The McCook Community Foundation Fund endeavors to aid both area consumers and area businesses through the creation of this program."
MCFF has approved more than $62,000 in funds from the COVID-19 Response Account including grants to McCook Public Schools and the Community Action Partnership.
For more information about the new COVID-19 Response Account, please visit mccookfoundation.org. MCFF is an affiliated fund of the Nebraska Community Foundation.