The Next Phase for Pennies

What the removal of pennies from circulation means for you.

What This Means For You

The U.S. Treasury discontinued production of the penny in 2025

Pennies will remain in circulation for the near future throughout the U.S., but over time, banks, businesses and customers will need to phase out the use of pennies.

Penny supplies are becoming extremely limited, and the Federal Reserve and coin terminal suppliers are halting orders for pennies for U.S. financial institutions.

While we begin making changes to our penny policy and planning for a future without pennies, we’ll give you the chance to help clean up your jars, piggy banks, cupholders and couch cushions. With any deposit made including your spare pennies (minimum of $1.00 in pennies) and you’ll receive a free gift from your local Idaho First Bank branch.

Thank you for your understanding. 

Penny orders for businesses will be limited to a maximum of $5.00 in pennies per week. 

Checks cashed for customers will be rounded up to the nearest nickel amount, to a sum ending in -5 or -0.

When we’re unable to make a cash payout in exact change, we’ll give you the option of an electronic debit or credit to the exact penny.

Any cash deposits made will be credited to the exact amount.

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Right Down the Road

Find your nearest Idaho First Bank location today and speak to an associate for convenient, personalized service.

You can also give us a call at (866) 634-2760 or click the link below to reach us online.