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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!
Exciting News – Main Branch Opening Date!
Dear Member:
We have some exciting news to share with you! The renovation at our Main Branch (20 Adams Street, Leominster) is nearing completion and will be opening on Monday, September 9, 2024! We are very thankful for our loyal members and employees for sticking with us over the last year as we faced many hurdles due to the devastating flood in Leominster. We cannot wait to welcome you back to our new and improved space!
To complete the transition and testing of all equipment, our Main Branch will be closed on Friday, September 6th, and Saturday September 7th. Please visit any of our additional branch locations during this time or utilize our 24/7 online and mobile banking.
We also wanted to make you aware that we will be transitioning from offering drive-up teller services to drive-up ATM only at our detached drive-up building at 26 Adams Street, Leominster. While drive-up teller services will no longer be available at this location, our team will continue to play a crucial role in providing exceptional service. Our Main Office Team is ready to assist members with any questions or issues.
Frequently Asked Questions
- When is our Main Branch re-opening?
Our Main Branch (20 Adams Street, Leominster) is reopening on Monday, September 9, 2024, for regular business hours. Our Temporary location in our Headquarters Building will no longer be available.
- Will the Branch look different when it opens on September 9?
Yes! We will be unveiling our new name in the beginning of October but when you enter the Branch not only will the space look different, but you will also notice an entire new color scheme! Stay tuned for more information about our unveiling and official grand opening!
- Why is the credit union transitioning away from teller drive-up service at the HQ location?
We are evolving to better serve our members’ needs by offering more convenient and efficient banking options. We plan to add an additional ATM lane in the Spring of 2025.
- What services will be available at the ATM lanes?
Our ATM lane offers a wide range of services, including cash withdrawals, deposits, account transfers, and more.
- How do I make deposits without a teller?
Deposits can be made through the ATM lanes by inserting cash or checks directly into the machine. Our ATMs are equipped with advanced technology to securely process deposits.
- Are there any changes to fees or account access with this transition?
There are no changes to fees or account access. Members can still access their accounts as usual through the ATMs, online banking, mobile app, or in-branch.
- Will there be longer wait times at the ATM lanes compared to teller service?
Our goal is to provide quick and efficient service at the ATM lanes. While wait times may vary depending on demand, we’re committed to minimizing any inconvenience to our members.
- Can I still access other banking services inside the branch?
Yes, our branch will still be open for all other banking needs, including loan applications, account openings, and in-person assistance from our staff.
- Does LCU have other locations with Drive-Up Teller Services:
Yes, we have 6 additional Branch locations with Drive-Up Teller Services and ATMs. See locations here Also, remember we have 24/7 online and mobile banking!
We understand that this transition may require some adjustment, but we are here to answer any questions, and help you achieve your financial goals.
Again, we thank you for your loyalty, commitment and cooperation and we look forward to welcoming you back into the Branch on Monday, September 9!
Thank you,
All One Credit Union
Important Information re: Debit Cards
We are aware that our local area has had a variety of debit cards compromised. We are taking all appropriate steps in investigating the situation and are actively looking into any compromise that may involve All One Credit Union (LCU) members.
Please always remember to:
- Monitor your accounts
- Never share personal information, passwords or PIN
- Set alerts
Please contact us directly with any questions or concerns at 800-649-4646
View the final stages of our Main Branch – 20 Adams Street renovations
Dear Members,
Our Main Branch, located at 20 Adams Street, Leominster, is approaching the final stages of our full renovation and we look forward to welcoming you back to a new and improved space late this summer! A big shout out to our amazing members and employees for sticking with us through the hurdles we faced over the past year.
We truly appreciate your cooperation during our renovation period and wanted to give you a sneak peek of the construction progress.
A few reminders:
- Our Temporary Branch located at 18 Adams Street, Leominster is available.
- Both our Walk-Up ATM and Drive-Up ATM are available.
- To access your safe deposit box, at our Leominster location, please call 800-649-4646 to make an appointment.
- We have 24/7 online and mobile banking.
We thank you again for your patience and we look forward to welcoming you back to our beautiful new branch. We will update you on a specific opening date very soon.
If you have any questions, please call our Member Service Center at 800-649-4646.
Fitchburg Youth Baseball Donation
Check donation to Fitchburg Youth Baseball for $500. The funds were collected during Jeans Days, where employees can wear Jeans on Fridays for a small fee and all funds are donated to a local non-profit.
