Sponsored by United Community Bank
If you’ve visited your local branch or placed a change order recently, you’ve probably heard that pennies are no longer available. The U.S. Mint and Federal Reserve have determined that producing pennies is no longer practical due to rising production costs and limited circulation. As a result, banks are no longer able to order pennies, and existing supplies will gradually phase out until inventories are depleted. If your business accepts cash, you’ll need to adjust how you handle change once the penny supplies are exhausted. Since this is a nationwide change impacting all financial institutions, you’ll want to let your customers know that pennies are no longer being distributed by the Federal Reserve. Our team is here to support you every step of the way. If you have questions or want help finding the best solution for your business, reach out to your local branch or contact us online.
