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Knowledge Base Article

Savings Bond FAQs

Does Delta Community sell savings bonds?

Delta Community at this time does not sell savings bonds. They can be purchased conveniently at www.savingsbonds.gov.

Where can I cash my savings bond?

As a Delta Community member, you may bring your savings bond to any Delta Community branch office to be redeemed. Savings bonds are to be redeemed by the payee and valid identification must be presented at the time of transaction. We are able to redeem Series E, EE and I savings bonds as long as they are redeemed by the owner of the bond, the POD of the bond (must provide a certified copy of the death certificate), or the parent of the minor child with whom the child resides. Any transactions outside these guidelines will have to be directed to the Federal Reserve for assistance.

Can I deposit my savings bonds at an ATM or night drop?

Any transaction involving a savings bond, whether you are depositing or cashing, must be done in person. The endorsing of the bond must be witnessed by the teller processing the transaction and the appropriate identification must be presented. Should a bond need to be sent to the Federal Reserve Bank for processing, the endorsement must be witnessed with a Signature/Medallion Guarantee Stamp prior to sending.

Can I be sure my bond will reach face value?

Yes. Series EE bonds are purchased at half their face value or denomination. Because EE bond interest is pegged to market rates that change every six months, there is no way to predict when a bond will reach its face value. In the unlikely event that rates are so low that a bond doesn't reach face value by the time it is 17 years old, the Treasury will make a one-time adjustment to increase the bond's value to face value at that time. See your bonds current value.

My father/mother recently passed away and we discovered that he/she owned several bonds. What can I do with these bonds?

If only one person is named on a savings bond, and that person is deceased, his or her bond is the property of his or her estate. "Estate" as used here means any belongings or other property left by the person who is deceased.

If both people named on a bond are deceased, the bond is the property of the estate of the person who died last. Once the bonds become the property of the estate, a court order dated within the last 12 months must be presented by the executor before they can be redeemed.

If one of two people named on a bond is deceased, the surviving person is automatically the owner just as if that survivor had been the sole owner from the time the bond was issued.

Once you have defined who the bond is being cashed for, it will be necessary to go to the bond web site to obtain a form to be completed and sent to the government for cashing. We are unable to cash these bonds at the credit union. For additional information on bonds and access to the necessary forms go to www.savingsbonds.gov.