Over-the Counter Sales
of Paper Savings Bonds Ending in 2011

The U.S. Department of Treasury will end over-the-counter sales of paper savings bonds on December 31, 2011, including sales through financial institutions and applications mailed directly to the Federal Reserve Bank by customers. This move is expected to save taxpayers an estimated $70 million over the next five years.

Although paper bonds are being discontinued, electronic Series EE and Series I Savings Bonds will remain available for purchase online at www.treasurydirect.gov. This secure, web-based system, operated by the Bureau of Public Debt, has been used by investors since 2002 to purchase savings bonds online.

Existing paper bonds will continue to be redeemable at Baylake Bank and other local financial institutions.