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US Savings Bonds

If you have payroll deduction for U.S. Savings Bonds, the following correspondence will be sent to you shortly:

Our records indicate that you purchase U.S. Savings Bonds through a payroll deduction. Effective Dec. 31, the U.S. Dept. of Treasury will no longer offer traditional paper U.S. Savings Bonds through employer payroll deductions.

As a result, your final savings bond deduction through payroll deductions will be in your Oct. 28 or Oct. 29 paycheck. You will be notified in the upcoming weeks on how remaining balances will be reimbursed through payroll.

While paper savings bonds will no longer be available through payroll deductions, the U.S. Department of Treasury offers a program to automatically save and redeem electronic savings bonds through Direct Deposit using TreasuryDirect. This free online service allows you to purchase, manage, and redeem electronic (paperless) savings bonds 24/7. You can also purchase Treasury marketable securities (bills, notes, bonds, and Treasury Inflation Protected Securities) to expand your savings portfolio.
In addition, you can convert the paper savings bonds you already own to electronic versions using a feature called SmartExchange. This government program is an excellent example of the Network Effect in action.

To enroll in TreasuryDirect go to the TreasuryDirect website ( to create an account. You will be e-mailed your TreasuryDirect account number. Within two weeks you will receive an “access” card from TreasuryDirect. You will then have everything you need to set up future electronic savings bond purchases.