Update: US Savings Bonds
Erie FCU Members may redeem Series EE Savings Bonds or IBonds at Erie FCU office locations.
- Series EE/E Bonds – The Series EE Savings Bond is a security that accrues interest (that is, increases in value) until it is cashed or reaches final maturity in 30 years. The EE Bond is the successor to the Series E Bond (also an accrual Bond). Series EE bonds must be held for one year from the date of purchase before they can be redeemed. If redemption takes place within the first five years, there is a three-month interest penalty.
- IBonds – IBonds are based on a straightforward idea. They are sold at face value and grow with inflation-indexed earnings for up to 30 years. IBonds are affordable and you can invest as little as $50.00 or as much as $10,000.00 per year. They are U.S. Treasury securities backed by the full faith and credit of the United States Government. You can defer Federal taxes on earnings for up to 30 years and IBonds are exempt from state and local income taxes. The best part is you don’t need to do anything to get these benefits – they’re built right into the IBonds. IBonds are liquid and can be turned into cash at any time after one year from the date of purchase. If redemption takes place within the first five years, there is a three-month interest penalty. The interest is added to the bond monthly, and paid when you redeem the bond.
Series HH/H Bonds and Series E Bonds are no longer available for purchase but can be redeemed at the Erie FCU.