Press Releases

Mansfield, PA (November 2025) In February 2025, President Trump directed the U.S. Treasury to stop producing new pennies as part of his effort to reduce unnecessary government spending. According to the United States Mint, it costs nearly 4 cents to create and distribute each penny. This decision trails other countries, including Canada and Australia, which have completely stopped producing pennies.

Since President Trump's announcement, bills to stop the production of the penny have been introduced in both chambers of Congress. Even after production stops, pennies remain legal tender, and consumers can still use pennies in transactions.

FCCB, in coordination with the American Bankers Association, is working with the federal government and other stakeholders to address these challenges. Banks continue to work in partnership with the Federal Reserve, Treasury, and other key stakeholders to track coin circulation trends and support efforts to ensure a smooth transition to the phasing out of the penny.

There are an estimated 250 billion pennies currently in circulation, and banks will continue accepting and processing pennies as long as they remain legal tender. However, merchants and banks across the United States are beginning to notice a slowdown in the circulation and availability of pennies. As a result of the reduced availability, some banks and merchants may run low or run out of pennies, which could affect cash transactions that rely on exact change. FCCB is taking proactive steps to continue serving our customers, with a focus on fairness and a seamless banking experience.

Please be assured that FCCB and the banking industry are monitoring the situation closely and working to manage supply as efficiently as possible.  We will continue to educate our customers and community as updates occur. Below are some best practices to avoid the friction of the penny shortage:

• Businesses may need to adjust their cash-handling practices.
• Electronic payments are unaffected by the phasing out of the penny. Credit and debit card transactions will continue to be processed at exact amounts, with no rounding.
• You can bring in your saved pennies to exchange or deposit at our branches to help maintain circulation.

Based in Mansfield, Pennsylvania, FCCB operates 39 community offices strategically positioned across Pennsylvania, New York, Delaware, and New Jersey. From ambitious financial goals to everyday banking support, FCCB is always ready to assist. Contact them at (800) 326-9486, explore myfccb.com, or engage on Facebook, Instagram, and LinkedIn to discover a different banking experience.

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