Making "Cents" of the End of the Penny

The U.S. Treasury has stopped production of the penny. Let's make cents of that change together. 

Why
The U.S. Treasury recently determined that the cost of producing the penny exceeds the value of the coin. As a result, penny production has been discontinued.

What to expect at GSCU:

• GSCU will continue to accept pennies from all members.
• GSCU will no longer provide penny rolls or boxes.
• GSCU will keep members informed of updates and guidelines as they become available.

What this means for you:

• Be aware as access becomes more difficult retailers may round cash totals to the nearest five cents, in place of the exact change total. (For example, $5.02 would be $5.00, or $5.03 would be $5.05). This will not impact digital payments.
• Deposit or spend your pennies soon. For deposits, self-serve coin machines are available in all GSCU branch lobbies.
• Card and digital payment use is not affected and should be used when convenient.

Frequently Asked Questions

• What should I do with the pennies I have?
  
  • Use them in cash transactions while they are still common and in circulation.
  • Deposit them into your account.
  • Keep as mementos but be aware future cash needs and future value cannot be predicted.
• How will this affect cash purchases?
  

  If pennies are not available, retailers may round to the nearest five cents. 

  • $X.01 - $X.02 will round down to $X.00
  • $X.03 - $X.04 will round up to $X.05
• Will GSCU stop accepting pennies?
  

  No. GSCU continues to accept pennies through in-branch transactions and coin machines.

• Does this affect my accounts or balances?
  

  No. The end of the penny only affects physical coin circulation and not your account balances. 

• Can I still order penny rolls or boxes?
  

  At this time we have stopped accepting orders for rolls and boxes of pennies.

• How does this affect card and digital transactions?
  

  This does not affect digital and card payments. These will continue to be the exact amount.