The NCUA is reminding credit unions that the U.S. Treasury Department is eliminating over-the-counter sales of U.S. Savings Bonds at the end of the year.
The Dec. 31 cutoff will end a tradition of the paper bonds that began in 1935, but bonds can still be purchased in electronic form from the TreasuryDirect website operated by the Bureau of Public Debt.
When it announced the change in July, the Treasury Department said it expected to save $120 million over the next five years. It also said there were 672 million paper bonds worth $181 billion outstanding as of June 30.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
