The Credit Union offers Series EE and Series I savings bonds. Series EE bonds are purchased for half of the face value and have a variable interest rate. Series I bonds are purchased for the full face value and have a combination of a fixed and variable rate and a semiannually adjustable inflation rate. To learn more about U.S. Savings bonds, visit www.savingsbonds.gov or come in to the Credit Union.

U.S. Savings Bonds and College Savings

Series EE bonds purchased after 1989 and Series I bonds purchased anytime have a tax-savings college education feature. If you meet the conditions, you may be able to exclude some or all of a bond's interest from your federal income tax when you use the bond to pay qualified higher education expenses.

Qualified higher education expenses are tuition and fees paid to an eligible postsecondary educational institution. Contributions to state-sponsored 529 college savings programs and contributions to an education savings account also are qualified higher education expenses.

The expenses may be for the benefit of you, your spouse, or a dependent for whom you claim an exemption on your federal tax return. To qualify for the exclusion, you must meet the specified conditions. For specifics, visit the government Web site.

To purchase a U.S. Savings Bond, call or come by any branch.