The United States Treasury has officially produced the final penny, marking the end of the coin and the beginning of the penny phase-out. As pennies begin to slow in circulation and become increasingly harder to find, we want to make this transition as smooth as possible for our customers.
At Walpole Co-operative Bank, we are committed to serving our customers and offering them solutions during this transition. For our business customers, we will do our best to accommodate coin requests, but may not be able to provide pennies, or may restrict the amount requested.
How can you help?
If you have any pennies saved up at home, now is the perfect time to bring them in.
With pennies no longer being produced, it’s important to keep them in circulation. The circulation will allow businesses to continue accepting cash payments without having to change their prices. Plus, depositing your coins ensures that no coin goes to waste as the phase-out begins.
Coin counting is free for customers, and we invite you to visit our office to work with a member of our team.
While we understand it is tempting to save your pennies for the future, the Bank remains the safest place for your money as it is insured by the Federal Deposit Insurance Corporation (FDIC) and the Depositor Insurance Fund (DIF).
If you have any questions about the penny phase-out or how to deposit your coins, please call (508) 668-1080 or stop by our office.