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Featured News
Information about the Penny Shortage
As you may have heard, the U.S. Mint has officially ended the production of new 1-cent coins (pennies) for circulation after more than two centuries.
Here’s what that means for you and for us at All One Credit Union:
1. Pennies remain legal tender.
All existing pennies still count. You can continue to use them the same way you always have.
2. You may see fewer pennies in circulation.
Because no new ones are being minted, over time you may notice that fewer pennies show up in day-to-day cash change or at registers. This doesn’t mean you’ll be short-changed it just means the coin will gradually become less visible.
3. What this means for cash transactions at branches and vendors.
We’ll continue to accept and dispense pennies normally at our branches, to the extent possible.
Some businesses may begin to round cash totals to the nearest five cents or ask for exact change more often. That said, this is optional and will evolve gradually.
4. What you can do to help.
If you have jars of pennies, consider bringing them into your branch for coin counting or deposit. The following locations have convenient coin counting machines: 20 Adams Street, Leominster, 159 Mechanic Street, Clinton and 910 West Boylston Street, Worcester.
When using cash, you might want to keep an eye on whether you have enough small coins (nickels, dimes) for smooth transactions.
5. Why is this happening?
Over recent years the cost to produce a penny has exceeded its 1-cent value. The U.S. Treasury determined that continuing full production was no longer fiscally sustainable.
6. Bottom line for you: No action required.
Everything you do today with your cash and account holds. We simply believe in keeping you informed, so you’re comfortable with any subtle changes you may notice. If you have any questions or want to roll coins in for deposit, we’re here to help.
Additional information can be found here:
Thank you!
THE COMMONWEALTH OF MASSACHUSETTS Division of Banks
ALL ONE CREDIT UNION (Credit Union), Leominster, Massachusetts has petitioned the Commissioner of Banks for permission to amend its by-laws pursuant to Massachusetts General Laws chapter 171, section 10 to expand the associations which qualify persons for membership. The amendment relative to membership eligibility proposes to add membership eligibility for family members of existing members, as well as for members of religious, civic, or charitable organizations having their principal place of business within the Credit Union’s existing geographic field of membership. Any objections or comments relative to this proposal must be communicated in writing to the Commissioner of Banks, One Federal Street, Suite 710, Boston, Massachusetts 02110 or via electronic mail to dob.comments@mass.gov no later than March 21, 2025. A public hearing may be held if the response is considered significant or circumstances warrant such a hearing, as determined by the Commissioner. The petitioner’s application and all communications relative to this application are available from the Division by request at dob.rao@mass.gov.
MARY L. GALLAGHER
Commissioner of Banks
Exciting Announcement
Dear Member,
As we reflect upon the success and growth Leominster Credit Union (LCU) has achieved over the past 70 years and think about the years to come, we think about our unwavering commitment to our members and the continuous development of the communities we serve. We are grateful to those leaders who laid our foundation, honored to further our mission, and build on the credit union philosophy of People Helping People. The trust and faith you, our members, have put in LCU is valued and appreciated, and our priority is addressing your needs.
We consistently strive to stay progressive and competitive, and work toward helping our members achieve their financial goals. We accomplish this by living our core values, continuing to build on our products and services, enhancing efficiencies, improving technology to better serve you, all while positioning the institution for future success.
We are excited to announce Leominster Credit Union will be repositioning our brand and changing our name to be announced and unveiled this fall. It is important we present ourselves in a way that reflects our commitment to our members and our communities, embodies our values, encompasses everything we stand for and is inclusive to all. As we evolve, it is important our brand evolves, and we prepare the credit union for future generations, while delivering a message that is welcoming and meaningful across the six counties we serve.
This initiative will have minimal impact on your membership. To help you understand what this means, we have developed a Q & A that addresses common questions. We are grateful for your ongoing commitment to Leominster Credit Union and look forward to strengthening our relationships and growing within the communities we serve.
Barbara A. Mahoney
President & CEO Leominster Credit Union
