REDUCED PENNY SUPPLY NATIONWIDE

NATIONWIDE PHASE-OUT OF PENNY PRODUCTION

The U.S. Department of the Treasury has announced plans to discontinue new penny production. Rising manufacturing costs have made penny production more expensive than its face value, and the Mint has placed its final order of penny blanks. Once those supplies are used, no new pennies will be produced. 

What this means for you.

• Pennies remain legal tender: You can continue to deposit and use pennies at any BankPlus location, and we will process them as usual.
• Reduced availability: Over the coming months, we may not be able to fully meet all penny orders as the national supply decreases.
• Transaction adjustments: Businesses and individuals should begin planning for cash transactions that minimize or eliminate penny use.
• Express penny orders discontinued: Expedited penny order services are no longer offered.

Our commitment to you.

We’re here to support you through this nationwide transition. If you have questions or need guidance on handling cash transactions without pennies, please reach out to the BankPlus officer on your account or our customer service team.