The penny is retiring: Here's what Member's should know

On November 12, 2025, the United States Mint hosted a ceremonial strike event where the last penny was produced for circulation, officially closing the book on the penny's 232-year run as a circulating coin. Although no new pennies will be made for general circulation, they remain legal tender, and you can continue spending them as usual. 

The decision to retire the penny comes as production costs have grown far beyond the coin's face value, combined with the contined decline in cash usage. According to the United States Mint, the cost to produce a single penny has increased from 1.42 cents to 3.69 cents over the past decade¹. 

You may find yourself wonderinig, "What does this mean for me?" Don't worry, the impact is minimal. Here is how our penny policy will work until our supply runs out:
 

1. Deposits - We will continue to accept pennies for deposit. 
2. Withdrawls - Pennies will not be available for large withdrawls; however we will still provide them to Members when a check is cashed with penny amounts. For example, if you cash a $50.19 check, we will hand out a $50 bill, a dime, a nickel, and four pennies in this transaction. 
3. Rounding - We are not implementing rounding at this time. 
4. Business Accounts - Rolled pennies will remain available to businesses that hold an account with us. 

There are still billions of pennies in circulation, so any changes in day-to-day life will happen gradually. In the meantime, our team is here to make the transition smooth, simple and stress free.