As of April 11, the U.S. Treasury Department said it will cease paying fees to credit unions, banks and savings bond agents for redeeming savings bonds.

Bonds must be received by the Treasury Retail Securities site at the Federal Reserve Bank of Minneapolis by 12:30 p.m. CT on April 10 in order to receive an EZ Clear redemption fee.

This change coincides with the move of redeemed bond processing from EZ Clear to image-enabled bond processing, which will occur on April 16, according to Treasury. The EZ Clear program will be decommissioned following the transition.

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:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
NOT FOR REPRINT

© 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.

Regulatory & Compliance