With the end of over-the-counter sales of paper savings bonds only two weeks away, credit unions are encouraged to continue preparing employees and members for the upcoming transition to electronic savings bonds. Savings bonds are popular gifts so credit unions may see an increase in inquiries during the holiday season.
As a reminder, financial institutions must stop accepting applications for paper bonds after December 31, 2011, but are encouraged to continue redeeming paper bonds for members.
The U.S. Department of the Treasury is offering new resources and materials to help financial institutions address customer inquiries and manage internal processes, including:
Download these resources at http://treasurydirect.gov/instit/savbond/otc/otcendtoolkit.htm.
Also, please remind members that they can go to www.treasurydirect.gov where they can buy, manage and redeem electronic savings bonds and other Treasury securities online, 24/7.