What's New At Mid American
U.S. savings bonds going paperless
Starting Jan. 1, 2012, U.S. savings bonds will no longer be sold through financial institutions or by mail. Instead, all purchases of Series EE and I Savings Bonds will be done online through www.treasurydirect.gov.
Ending paper savings bonds sales is expected to save taxpayers an estimated $70 million over the next five years. Another advantage with electronic bonds is that they can’t be lost or misplaced.
Financial institutions will continue to redeem paper bonds. Existing paper bonds will earn interest for 30 years from the issue date or until redeemed.
You can convert your paper savings bond to electronic savings bonds at no charge. No earned interest will be lost and the bonds will keep their original issue dates and current interest rate terms.
To use the online services of TreasuryDirect, you will need to have an account at a financial institution to receive direct deposit payments and to use as a payment source for purchases.
An email address is necessary to receive important messages about your TreasuryDirect account.