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Penny Production Ending – What It Means for You (and Why It’s Business as Usual at Greater Nevada Credit Union)
We’ve heard chatter recently about the end of production of the U.S. one-cent coin, so we want to share what this means — and what it doesn’t — for GNCU members.
What’s happening:
- The U.S. Mint has ended production of new pennies for circulation.
- Existing pennies remain in use and are fully legal tender.
- Banks and credit unions will continue to accept and process pennies.
What this means for you:
- No changes to GNCU policies.
- You may continue using pennies for deposits and transactions.
- We will continue to monitor the coin supply through our distribution partners.
Why you’re not seeing disruption:
- There are still billions of pennies in circulation.
- The shift is gradual and expected to be smooth.
Bottom line:
Your banking experience with GNCU remains unchanged. Should operational needs shift in the future, we will notify members directly.
Are pennies still accepted at GNCU?
Are my deposits or transactions with GNCU affected by the end of the production of pennies?
Is GNCU implementing rounding with the end of the production of pennies?
Could penny supply affect change or coin availability?
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