The Bureau of Public Debt has announced that as of January 1, 2012, paper savings bonds will no longer be sold at financial institutions. This action, which supports the U.S. 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.
Electronic savings bonds in Series EE and I are available through purchase in TreasuryDirect, a secure web-based system operated by Public Debt.
Opening a TreasuryDirect account is free, and once it's established, you can:
- Buy, manage and redeem Series EE and I electronic savings bonds
- Convert Series EE and I paper savings bonds to electronic through the SmartExchange feature
- Purchase electronic savings bonds as a gift
- Enroll in a payroll savings plan for purchasing electronic bonds
- Invest in other Treasury securities such as bills, notes, bonds, and TIPS (Treasury Inflation-Protected Securities)
NOTE: If you currently hold paper savings bonds, you can continue to redeem them at MCCU. Bonds, which have not matured, but were lost, stolen, or destroyed, can be reissued in paper or electronic form.