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Change is Good — Even When It's Gone!


In 2025, the U.S. Department of the Treasury stopped the production of pennies, with the nickel expected to follow suit. As a result, St. Cloud Financial Credit Union is making a small but important change to how loose coin is handled in our branches starting April 13.

We’re not removing access to coin but adjusting our process to align with the changes already happening nationally. This slight change is being made with our members in mind — and SCFCU’s commitment to fairness, transparency and member value remains the same it’s always been.

Here’s what you need to know:

 

What's Changing

Starting April 13, SCFCU will no longer process loose coin transactions at the teller line.

  • This applies to both members and non-members
  • Rolled coin will still be available for purchase — except for pennies
  • Coin access is not going away — only the way loose coin is handled is changing

    • What's Staying the Same

    While the process is changing, the value is not.

  • Members still receive 100% of their money
  • There are no fees for members
  • Coin machines will still be available to count and deposit loose change
  • Rolled coin remains available for members and businesses (excluding pennies)

    • Why We're Making This Change

    This update helps us prepare for changes already happening nationally.

  • The penny is being phased out across the country
  • The nickel is expected to follow
  • Rather than making multiple adjustments over time, we’re implementing one long-term solution now so it will be easier in the future.

    • How This Works for Members

    For SCFCU members, the experience is simple and straightforward:

  • Loose coin desposits will be run through our coin machines
  • The full amount will be deposited directly into your account
  • There is:
    • No rounding
    • No loss of value
  • Check cashing will be round down to the nearest whole dollar
  • Members may choose to: The most important thing to know:
    No money will be lost. Change is deposited, not taken away.

    • How This Works for Non-Members

    For non-members:

  • Non-members may choose to:
  • Youth are never charged a fee for cashing coin or checks

    •  

    Our Commitment to You

    We are changing the process with loose coin — not the value — but won’t change is our commitment to our members and putting you at the forefront of everything we do.

    Your experience, service and value you receive from your local credit union will remain the same. Now and into the future.

    If you have any questions, please give us a call at 320-252-2634, chat with us online at www.scfcu.org or visit your local SCFCU branch.

     

    Frequently Asked Questions

    Are you getting rid of coin?
    No. We are only eliminating loose coin transactions at the teller line. Rolled coin is still available, and members continue to receive full value for their change.

    Why now?
    With the penny being phased out and additional changes expected, this allows us to make one thoughtful update instead of multiple future changes.

    Am I losing money?
    No. Members receive the exact value of their loose coin through a deposit into their account.

    Why April 1?
    This gives members time to learn about the change, ask questions, and prepare for a smooth transition.

    NewsMitchell Hansen