the end of the penny
The end of the penny: what you need to know
The U.S Department of the Treasury has announced that it will no longer be minting the U.S. Penny. Although pennies will no longer be produced, they will remain in circulation and considered as legal tender at the present time.
West Michigan Community Bank is no longer able to order pennies from the Federal Reserve, which may limit our ability to fulfill change order requests for pennies going forward.
To ensure that we can serve our customer coin needs, we will be implementing the following guidelines effective January 1, 2026.
Consumer and Business Customer Helpful Tips:
- Check Cashing – when exact change cannot be provided, we may ask that the change from the check be deposited, with the remaining amount of the check being cashed.
- Deposits – if you have pennies saved up, this a good time to bring your loose or rolled pennies into West Michigan Community Bank.
- Change Orders – Penny orders are limited to a daily limit of 100 pennies (2 rolls) for business and consumer customers only.
- Rounding – when paying with cash at a business, you may notice transactions being rounded to the nearest nickel.
- Non-Customer Check Cashing – when exact change cannot be provided, we may round the change to the nearest nickel. We will be charging a $2.00 check cashing fee for non-customers cashing WMCB checks.
Digital payments remain unaffected by this and will continue to process normally.
Questions?
If you have any questions about how this may affect your daily banking, please give us a call at 616.664.1778 or stop by your local WMCB branch.