The Penny Is Going Away: What You Need to Know
posted
November 14, 2025
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Member Alert
The U.S. Mint has stopped producing pennies in early November 2025 after the final batch of blanks was used. While pennies will remain legal tender, they’ll gradually disappear from circulation. This change is happening because it costs nearly 4 cents to make a 1-cent coin—resulting in millions of dollars in annual losses.
What Does This Mean for You?
Pennies are still legal tender and can be used for purchases, deposits, and coin machine transactions.
Over time, pennies will become less available. GICU is unable to order pennies for branches or businesses, so existing supply will phase out naturally.
- For cash transactions only, totals will round to the nearest 5 cents:
- 1¢, 2¢ → round down
- 3¢, 4¢ → round up
- 6¢, 7¢ → round down
- 8¢, 9¢ → round up
- Digital payments (cards, mobile, etc.) are not affected—they’ll still process exact amounts.
Our Approach at GICU
We’ll continue accepting pennies for deposits and coin machine use while they remain in circulation. Our systems and cash handling procedures will support rounded cash transactions. We’ll keep members informed as the transition progresses.
Guidance for Businesses
If you own or manage a business, here’s how to prepare:
- Review pricing strategies to avoid penny-based totals.
- Train staff on rounding procedures for cash payments.
- Communicate changes clearly to customers—consider signage at checkout.
- Encourage electronic payments to avoid rounding altogether.
Frequently Asked Questions
Will other coins be phased out?
No. Only the penny is being discontinued at this time.
Can I still deposit pennies at GICU?
Yes! We’ll accept them while they remain in circulation.