Important Update on Penny Usage
Effective Friday, January 16, all coin machines at The County FCU will reject pennies.
As part of the U.S. Treasury’s decision to retire the penny, we are updating how pennies are handled in our branches and for cash transactions. In specific circumstances, we will incorporate rounding as outlined below, as pennies will no longer be negotiated at the teller line or drive-thru.
How Rounding Works at The County
The following will apply to cash transactions that include pennies:
For Members & Shared Branching Guest Members
- The exact amount of the check will be deposited into your account
- You may choose to withdraw available cash rounded to the nearest available nickel ($0.05)
For Non-Members Cashing Checks Drawn on The County FCU Checking Accounts
- The check will clear our member’s account for the exact amount
- The recipient will receive funds rounded down to the nearest nickel
Frequently Asked Questions
Why is the U.S. penny being phased out?
The U.S. Treasury has announced the retirement of the penny due to production costs exceeding its face value. With cash transactions becoming less common, the penny’s role in daily commerce has diminished. This change is expected to reduce waste, conserve taxpayer funds, and streamline cash handling.
Will this affect my account balances or transactions?
No. The penny phase-out only affects physical penny circulation, not your account balances or electronic transactions.
Will my deposits, card, digital, or ACH payments be rounded?
No.
- Deposits, card, mobile wallet, digital, and ACH transactions will continue to process to the exact cent.
- Only cash payouts may be affected.
When will my local branch begin rounding for cash payouts?
The County FCU will discontinue using pennies on Friday, January 16, 2026.
What should I do with the pennies I have?
- Use Them – Spend them in cash transactions while still accepted
- Keep Them – Save a few as keepsakes, but don’t rely on them for cash value
Does The County FCU provide paper penny rolls?
Yes! Free paper penny rolls are available to members at all branches while supplies last.
How does this affect my everyday purchases?
- Cash purchases at retailers may be rounded to the nearest nickel, depending on the business’s policy
- Card, mobile wallet, and online payments will continue to process to the exact cent
- Rounding policies may vary among businesses and financial institutions
