Effective January 15, 2026, we are limiting penny deposits to a maximum of $5.00 per transaction. This change follows the U.S. government's decision to discontinue penny production in February 2025 and is subject to change. Below, you'll find answers to common questions and how this update affects deposits, withdrawals, and check cashing.

Frequently Asked Questions

Why is the bank eliminating pennies?

In February 2025, the U.S. Government discontinued the production of pennies. As a result, Buckeye State Bank is updating its procedures for handling cash transactions.

Will prices be rounded?

No. Account balances and transactions remain accurate to the cent. Only cash handling is affected.

What happens when I cash a check as a member?

You'll receive cash for the full amount minus pennies, and the pennies will be deposited into your checking or savings account.

What if I don't have a checking or savings account?

Loan-only or CD-only members will still be treated as members; however, pennies in the transaction (1-4¢) will be charged as a small handling fee.

What about non-members?

Non-members cashing checks will receive cash minus pennies. The standard 1% fee (up to $10) applies, and pennies will be added to the fee.

Can I still use pennies to make deposits?

Yes, effective January 15, 2026, we are limiting penny deposits to a maximum of $5.00 per transaction.

Will the bank give out pennies?

No pennies will no longer be ordered or distributed in any denomination.

How does this affect loan payments?

Cash loan payments will be accepted minus pennies. Members may add a nickel, and any overpayment will be applied to the principal.