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Resources to help you navigate the changing regulatory landscape

U.S. coin pennies.

Fed Accepting Pennies at Coin Distribution Centers

Starting Jan. 14, the Federal Reserve will resume accepting pennies from credit unions and other financial institutions at commercial coin distribution locations that were previously suspended.

Thursday’s announcement follows continuous advocacy from California’s Credit Unions, Nevada’s Credit Unions, America’s Credit Unions, the American Association of Credit Union Leagues (AACUL), and all state leagues after penny production ended late last year.

The organizations wrote to Federal Reserve Governor Christopher Waller and members of Congress last month to address the uncertainty that has followed the end of penny production.

According to the Fed, it will monitor the flow of penny deposits from financial institutions as these changes take effect, and will determine whether subsequent expansion of ordering options for pennies is feasible.

The California and Nevada leagues, America’s Credit Unions, and AACUL continue to seek clarity on the end of penny production, including a uniform national rounding standard.

For More Information

For more information, email Lisa Quaranta.

Access the ‘Compliance Hotline’

Your League-member benefits include the Compliance Hotline — providing exclusive access to dedicated compliance experts:

Using the above phone number and email address, you can gain access to a knowledgeable team that’s ready to address all your credit union’s compliance inquiries — promptly and efficiently. With the Compliance Hotline, you can proactively respond to impromptu questions and issues by getting clarity and insight on technical topics that normally slow you down. We want to help you unlock the full potential of your League membership by leveraging the resources and support you need to navigate the complex world of compliance effortlessly. We’re ALWAYS just a phone call or email away!

Additionally, other League-member compliance resources include:

  • ViClarity
  • CU PolicyPro
  • ComplySight
  • InfoSight
  • CU Store
  • Record Retention Guide
  • GRC Technology Solutions

For more information, email Lisa Quaranta.

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