For more than two centuries, the penny has been a familiar part of American life, tucked into change jars, saved in piggy banks, and pressed into souvenirs at landmarks across the country. But in today’s fast-paced, mostly digital world, the one-cent coin has lost much of its usefulness.
The U.S. Mint has announced that production of new pennies will officially end in 2026. Although that might sound far away, the shift is already taking effect. The vaults we use to stock our branches are nearly out of pennies, and no new shipments are being produced. Once our supply runs out, we’ll no longer be able to offer pennies for transactions or roll exchanges.
We know this change feels sudden, but don’t worry! You won’t lose anything with us.
The main reason comes down to cost and efficiency. It currently costs the government almost four cents to make a single penny. That adds up to more than $50 million in taxpayer money every year just to keep a coin in circulation that many people don’t even use.
The government placed its final order for penny materials in May 2025, meaning the very last batch of pennies will be minted in early 2026. With an estimated 114 billion pennies already in circulation, roughly 700 per person, it will still take years before they are fully removed from day-to-day use.
Other countries, such as Canada and Australia, have already eliminated their smallest coins with minimal disruption. The U.S. is just following suit.
Your pennies are still legal tender, and you have several good options for using them:
If you own or manage a business, this transition may require small but important adjustments. Here are a few steps to help make it smooth for your team and customers:
The penny may be retiring, but your money and your trust remain safe at Latah Credit Union. We’ll continue ensuring every cent is accounted for, whether in cash, electronically, or anywhere in between.
This small change marks the end of a familiar coin, but not the end of cash or community banking. As always, we’re here to help you navigate each transition with clarity, confidence, and care.
Questions? Get in touch!
For more than two centuries, the penny has been a familiar part of American life, tucked into change jars, saved in piggy banks, and pressed into souvenirs at landmarks across the country. But in today’s fast-paced, mostly digital world, the one-cent coin has lost much of its usefulness.
The U.S. Mint has announced that production of new pennies will officially end in 2026. Although that might sound far away, the shift is already taking effect. The vaults we use to stock our branches are nearly out of pennies, and no new shipments are being produced. Once our supply runs out, we’ll no longer be able to offer pennies for transactions or roll exchanges.
We know this change feels sudden, but don’t worry! You won’t lose anything with us.
The main reason comes down to cost and efficiency. It currently costs the government almost four cents to make a single penny. That adds up to more than $50 million in taxpayer money every year just to keep a coin in circulation that many people don’t even use.
The government placed its final order for penny materials in May 2025, meaning the very last batch of pennies will be minted in early 2026. With an estimated 114 billion pennies already in circulation, roughly 700 per person, it will still take years before they are fully removed from day-to-day use.
Other countries, such as Canada and Australia, have already eliminated their smallest coins with minimal disruption. The U.S. is just following suit.
Your pennies are still legal tender, and you have several good options for using them:
If you own or manage a business, this transition may require small but important adjustments. Here are a few steps to help make it smooth for your team and customers:
The penny may be retiring, but your money and your trust remain safe at Latah Credit Union. We’ll continue ensuring every cent is accounted for, whether in cash, electronically, or anywhere in between.
This small change marks the end of a familiar coin, but not the end of cash or community banking. As always, we’re here to help you navigate each transition with clarity, confidence, and care.
Questions? Get in touch!
To apply, please submit your resume to info@latahcu.coop
