Cold Cash: Turn $80 into $100

 RED OAK — The Red Oak Chamber and Industry Association Cold Cash program is back for the second year with an extra $20,000. 

The program allows customers to purchase $100 vouchers redeemable at any Association-investor business at a 20 percent discount.

After a huge success last year, selling all $30,000 worth of vouchers in just over an hour, Association Assistant Director Jodie Smith said they decided to increase the limit to $50,000 this year. 

“The Red Oak Chamber and Industry Association is pleased to be able to offer a great program like the Red Oak Cold Cash,” Smith said. “Programs such as these, encourage people to shop locally during the holiday season … and assist our smaller local merchants in reminding us just what is available right here in the community of Red Oak.”

Cold Cash is sold only in $100 quantities, which costs the customer $80. The 20 percent discount applies only at the time of purchase, not when spent at individual retailers. 

Retailers are then reimbursed for the dollar amount purchased with Cold Cash through the Association’s Local Option Sales Tax fund. 

Cold Cash will be on sale Saturday, Nov. 16 only on a first-come first-purchase basis beginning at 8 a.m. 

Each household can only purchase up to five $100 packs. Cold Cash must be spent by Jan. 15, 2014. 

Last year, Smith said a total of 42 local businesses received Cold Cash.  

With $7,650, Fareway saw the most Cold Cash last year. 

Fareway manager Kerry Carlson said the program is beneficial in boosting business and the local economy. 

“It’s a great way to get people excited about shopping in Red Oak for the holidays and we’re excited to be involved again this year,” he said. “Anything that benefits the customers and the community as a whole is just a win-win.”  

Mark Jackson of Hardware Hank, who received more than $2,000 in business last year through the program, echoed Carlson on the benefits of such  a program.

“It’s a great opportunity for people to save and gives an additional reason why shopping local makes sense,” Jackson said. “Every time you spend a dollar locally it helps your friends and neighbors and allows us to keep running so people don’t have to travel to the city for everything.”

For more information on the Cold Cash program, contact Smith at the Association office, 623-4821.