Treasury Will No Longer Sell Savings Bonds At CUs

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WASHINGTON – The Treasury Department announced this morning that as of Jan. 1 paper savings bonds will no longer be sold at credit unions and banks, but only at the Treasury’s website.

Electronic savings bonds in Series EE and I will remain available through purchase in TreasuryDirect, a secure, web-based system operated by the Treasury’s Bureau of Public Debt – where investors have been purchasing savings bonds, available 24/7, since 2002.

"Savings bonds are very much a part of this country's history and culture, and will remain a part of America's future – but in electronic form," said Van Zeck commissioner of Public Debt. "It's time for us to take a 1935 model and make it a 21st century investment tool."

This action, which supports the U.S. Department of the Treasury's goal to increase the number of electronic transactions with citizens and businesses, will save American taxpayers approximately $70 million over the first five years.

 

Those currently holding paper savings bonds can continue to redeem them at financial institutions. Bonds, which have not matured, but were lost, stolen or destroyed, can be reissued in paper or electronic form.

 

 

Those currently holding paper savings bonds can continue to redeem them at financial institutions. Bonds, which have not matured, but were lost, stolen or destroyed, can be reissued in paper or electronic form.Those currently holding paper savings bonds can continue to redeem them at credit unions. Bonds, which have not matured, but were lost, stolen or destroyed, can be reissued in paper or electronic form. 

 

 

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