To our valued customers:

We want to inform you about an important change affecting coin transactions at SouthEast Bank.  The U.S. Department of the Treasury has announced the end of penny production, and the Federal Reserve has stopped fulfilling penny orders at several of their locations.  As a result, our ability to provide pennies for coin orders and cash transactions is limited and will diminish over time. 

What you need to know:

• Deposits: Pennies will continue to be accepted for deposits.
• Withdrawals: We will dispense pennies for withdrawals and change requests while our inventory remains available. Limits may apply. We appreciate your understanding when we are unable to fulfill large or specific requests for pennies. 
• Cash transactions: After the Bank’s penny supply is depleted, cash transactions will be rounded to the nearest five cents. Any difference will be credited to your account by depositing the check into your account first. Example: Cashing a $35.02 check would result in $35.00 in cash, with the remaining $0.02 deposited into your account.
• Check Cashing for Non-Customers: The Bank will follow the symmetric rounding rule when cashing checks drawn on SouthEast Bank accounts for non-customers. The “symmetric” rounding rule implies that if the final digit of the check ends in 3, 4, 8 or 9 cents, the total will be rounded up; if it ends in 1, 2, 6 or 7 cents, it will be rounded down.
• Electronic payments.  Transactions made by debit card, credit card, or digital wallet will continue to process to the exact cent with no changes. 
• Retail adjustments: As the circulation of pennies declines, some businesses may begin rounding cash totals to the nearest five cents or accepting exact change only.  This adjustment is becoming common nationwide.

We understand this transition may cause some inconvenience and sincerely appreciate your patience and cooperation. We encourage customers to bring in and deposit any spare pennies to help maintain local coin availability in the community.   

Our goal remains to serve our customers with the highest level of service. For questions, please contact our Client Care Center at 1-844-732-2657 or visit your local SouthEast Bank branch.