Are Pennies Being Phased Out? Here's What You Need to Know

The U.S. Mint has officially stopped producing pennies. This marks a nationwide shift in coinage policy aimed at improving cost-efficiency and modernizing currency usage.

What You Need to Know:

• No More Penny Orders
  Shore United Bank will no longer receive new penny shipments. Once our current inventory is depleted, pennies will no longer be available in change.
• Deposits Still Accepted
  You may continue to deposit pennies—rolled or loose—at any branch.
• Rounding for Cash Transactions
  When necessary, cash transactions will be rounded to the nearest five cents.

Frequently Asked Questions:

Why are pennies being phased out?
The U.S. Mint has ended penny production due to rising costs and declining usage. Many countries have already retired their lowest denomination coins for similar reasons.

Can I still use pennies?
Yes, you can still spend pennies at retailers and deposit them at our branches.

Will I get pennies back in change?
Once our supply runs out, we will no longer provide pennies in change.

Is this permanent?
Yes. This is part of a national transition away from pennies.

Questions?

Our branch team is here to help. Please speak with an associate for more information. 

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Thank you for your understanding and support as we adapt to this national change.