Penny Availability

In February 2025, the U.S. Treasury was directed to stop producing new pennies as part of an effort to reduce unnecessary government spending. According to the government, it costs nearly 4 cents to produce and distribute each penny. Other countries, including Canada and Australia, have completely stopped producing pennies, so we aren’t the first country to take this step.

Recently, the Federal Reserve has stopped distributing pennies.

What It Means:

• We can no longer order pennies. The Federal Reserve has stopped supplying them to banks.
• Rolled penny availability may be limited. Supplies are not being replenished. No new pennies will be made.
• We will distribute pennies until the branch supply runs out. Once gone, pennies will no longer be available.
• Cash transactions may be rounded to the nearest 5 cents.

What Stays the Same:

• You can continue to use your pennies, they are still a legal tender.
• Deposits and electronic transactions, including debit cards, will still be processed to the exact cent.
• Katahdin Trust will continue to accept and use pennies (until further notice).

We are monitoring the situation closely and working to manage supply as efficiently as possible.