WASHINGTON (9/8/11)—On the heels of its recent announcement that over-the-counter (OTC) sales of paper U.S. Savings Bonds will end on Dec. 31, the U.S. Treasury Department has unveiled a free toolkit to help financial institutions communicate the change to members or customers. While paper bonds will no longer be sold at credit unions and other financial institutions, electronic savings bonds will remain available for purchase through TreasuryDirect.gov, a secure web-based system operated by the Bureau of the Public Debt. The Treasury’s toolkit for financial institutions includes:
* Fliers for consumers; * Short messages for account statements; * Frequently asked questions (FAQ) for employees; * Web banners; and * An article for employee newsletters or Intranet posting;
Treasury is encouraging financial institutions to help educate consumers about the changes to the delievery system for savings bonds and to continue redeeming the more than 670 million paper savings bonds worth $181 billion that are currently in the hands of the public. Treasury has said that discontinuing paper savings bond sales is expected to save taxpayers an estimated $70 million over the next five years. For more information, use the resource link below.