THE END OF THE PENNY AND WHAT IT MEANS FOR PCSB CUSTOMERS
The U.S. Department of Treasury will no longer be minting pennies by the end of this year. Although pennies will no longer be produced, they will remain in circulation as legal tender at the present time. Digital payments remain unaffected by this and will continue to process to the exact cent.
PCSB is no longer able to order pennies from the Federal Reserve, which may limit our ability to fulfill change orders for pennies going forward. In order to ensure that we can serve our customer coin needs, we will implement the following procedures effective October 20, 2025:
Penny orders are limited to $5 to business and consumer customers only (as supplies allow)
We will no longer supply boxes or bags of pennies to customers
TIPS FOR CONSUMERS
Rounding - When paying with cash at a business, you may begin to notice transactions being rounded to the nearest nickel
Deposits - If you have coins saved up, this is a good time to use our QuickChange Machine to deposit loose change into your PCSB account
TIPS FOR BUSINESSES
Change orders - Prepare now for low penny availability by managing your current inventory and reviewing our updated change order limits
Deposits - PCSB will accept pennies for deposit at the current time
Rounding - Review your cash handling procedures and be ready to adjust as needed
If you have questions about how this may affect your business or daily banking, please give us a call at (800) 432-0387 or stop by your local branch. We’re here to serve you!
Serving Southwest Iowa Since 1866
And still going strong. We may have grown over the years, but our commitment remains the same.
