Phasing out pennies - Monday, February 11, 2013

On February 4, 2013, the Royal Canadian Mint ceased distribution of the penny to financial institutions. In keeping with the government’s decision to phase out the coin, Alterna will no longer be issuing pennies as of February 11, 2013.

Pennies will still be accepted for cash deposits or transactions and will be counted to the cent, as will electronic transactions. Cash back transactions will be rounded up to the nearest nickel.

We intend to make this transition as easy as possible for our members. For more information about this change, please visit mint.ca.