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U.S. Savings Bonds are going paperless. Paper Series EE and I Savings Bonds will no longer be sold through any financial institutions or by mail beginning December 22 ,2011.
Customers may still purchase savings bonds through the online website Treasury Direct at www.treasurydirect.gov. Existing paper savings bonds are valid issues of the Treasury Department and will earn interest for 30 years from the issue date or until redeemed.
You can still redeem any papers bonds with South Ottumwa Savings Bank. You can also convert your paper savings bonds to electronic savings bonds in Treasury Direct using a program called SmartExchange. There’s no charge to convert paper bonds. No earned interest will be lost, and the bonds will keep their original issue dates and current interest rate terms. Bond interest rates are determined by the U.S. Treasury Department. For more information please check out www.treasurydirect.gov for rate and bond value information.