All employees of WWU may elect to voluntarily participate in an automated US savings bond purchase program in coordination with the Whatcom Educational Credit Union.

 Series EE US Savings Bond

·       EE US Savings Bonds are an accrual-type security (interest is paid when the bond is cased). 

·         Interest is added monthly and is compounded semiannually.

·         EE bonds are sold at 50% of the face value of the bond.

·         EE bonds earn interest for up to 30 years.

 

Purchase Denominations

Employees may purchase monthly or semi-monthly Series EE US Savings Bonds through payroll deduction in the denominations and at the purchase prices shown below.

 

Denomination	Purchase Price
$      50.00	$    25.00
$      75.00	$    37.50
$    100.00	$    50.00
$    200.00	$  100.00
$    500.00	$  250.00
$  1,000.00	$  500.00
$  5,000.00	$2,500.00
$10,000.00	$5,000.00

 

Authorized Registrations

Employees may register savings bonds in the names of individuals in their own right in one of three ways:

 

Single Ownership	Only the registered owner may redeem the bond.  At the death of the owner, the bond becomes the property of the bond-owner’s estate.
Co-ownership (Two persons as co-owners)	Either may cash the bond without the knowledge or approval of the other.  At the death of one co-owner, the surviving co-owner becomes the sole owner of the bond.
Beneficiary (One owner and one beneficiary)	The bond is redeemable only at the request of the registered owner.  The beneficiary becomes the sole owner of the bond at the death of the owner.

 

Enrollment

Enrollment forms are available at:

·         Whatcom Educational Credit Union, Main Branch, 600 E. Holly, Bellingham

 

Special Note:  Although this payroll deduction purchase program is only available for members of the Whatcom Educational Credit Union, non-members may purchase a US savings bond on the internet at www.savingsbonds.gov or at any participating bank branch.